With the increase in rates that in September 2021 began to make the Banco de la República to try to control inflationthe cost of credits in financial institutions also began to react.
According to the statistics of the Financial Superintendencyat the end of last year the banks charged their clients on average the 16.48% interest rates for consumer loans, although not including credit cards.
The number is equal to 59 basis points (bp) or 0.59 percentage points above the rate that for the same type of credit they charged a year before, when the average rate was 15.89%, based on statistics.
According to figures from the Superfinanciera, the average rates for credit cards for natural persons, at the end of last December, were 23.30%.
The rate of bank overdrafts fell between 2020 and 2021 from 24.29% to 24.19%
A year ago, in December 2020, the average cost of credit cards for natural persons they reached 22.70%.
On the other hand, the cost of microcredits As of December 2021, the rate charged by Colombian banks was 33.50%, that is, 86 basis points (0.86 percentage points) above the rate of December 2020, when it reached 29.64%.
Ordinary credit registered an average rate of 12.26% as of last December, 84 bp (0.84 percentage points above December 2020 when said rate was 11.42%).
However, according to the statistics presented by the Financial Superintendence, the overdrafts banking was the only modality that as of December of last year recorded a decreasesince the average charged by banking entities was 24.19%, while for December 2020 the figure was 24.29%, this is 10 basis points lower or 0.10 percentage points lower between 2021 and 2020 .
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