The cycle of high Selic (basic interest rates in the economy), which came to an end today (21), increased credit by 32% for individuals and 45% for companies, announced the National Association of Finance, Administration and Accounting Executives ( anefac). Although the most recent increases had little impact on financing and loans, the final balance is considerable after a year and a half of continuous readjustments.
From March 2021 to September this year, the Monetary Policy Committee (Copom) of the Central Bank raised the Selic rate from 2% to 13.75% per year. In some cases, the accumulated impact raised the final value of financing in amounts above R$ 10 thousand, according to the National Association of Finance, Administration and Accounting Executives (Anefac).
According to Anefac, the average interest rate for individuals rose from 92.59% at the beginning of 2021 to 122.65% per year now. For legal entities, the average rate went from 41.2% to 59.92% per year. This represents an increase of 32.44% in annual fees for individuals and 45.44% for companies.
simulations
Anefac carried out simulations to measure the impact of the Selic rise in a year and a half. When financing a refrigerator for R$ 1,500 in 12 installments, the buyer pays R$ 6.97 more per installment and R$ 83.67 more in the final amount at the current Selic rate. The customer who enters the overdraft in R$ 1 thousand for 20 days pays R$ 6.47 more.
When using R$ 3 thousand of the credit card revolving card for 30 days, the customer spends R$ 93.30 more. A personal loan of BRL 5,000 for 12 months charges BRL 29.69 more per installment and BRL 356.22 more after payment of the last installment.
A loan of BRL 500 in 12 months from a financial institution is BRL 3.70 more expensive per installment and BRL 44.42 more expensive in total. When financing a car worth R$ 40 thousand for 60 months, the buyer will pay R$ 218.46 more per installment and R$ 13,107.83 more in the total operation.
In relation to legal entities, companies pay BRL 1,437.03 more for a working capital loan of BRL 50,000 for 90 days, BRL 539.21 for a discount of BRL 20,000 in trade notes for 90 days and R$94.67 more for using an overdraft account worth R$10,000 for 20 days.
Savings
Anefac also produced a simulation on the impact of the new Selic rate on savings income. With a rate of 13.75% per year, the passbook only yields more than investment funds when the investment term is short and the administration fee charged by the funds is high.
According to the simulations, savings yield more than funds in just one scenario, with an investment of up to one year in relation to funds with a rate of 3% per year. When the fund has a management fee of 2.5% per year, the savings account only earns the same amount when the money is invested for up to six months.
The advantage of the funds occurs even with the collection of Income Tax and administration fee. This is because savings, despite being tax-exempt, yields only 6.17% per year (0.5% per month) plus the Reference Rate (TR), which increases when the Selic rate rises. This savings income is applied when the Selic rate is above 8.5% per year, which has been happening since December 2021.