The increase in the Selic rate (basic interest in the economy), decided today (2) by the Central Bank, will continue to make credit and installments more expensive, says the National Association of Finance, Administration and Accounting Executives (Anefac). Although the impact at the end is diluted because of the very large difference between the base rate and the longer-term effective interest, the borrower feels the effects of monetary tightening.
According to Anefac, the average interest for individuals goes from 110.17% to 113.03% per year. For legal entities, the average rate goes from 50.93% to 53.05% per year. The Selic increased from 9.25% to 10.75% per year.
When financing a refrigerator for R$ 1,500 in 12 installments, the buyer will pay R$ 13.79 more at the new Selic rate. The customer who enters the overdraft in R$ 1 thousand for 20 days will pay R$ 0.80 more.
When using R$ 3 thousand of the credit card revolving card for 30 days, the customer will spend R$ 3.60 more. A personal loan of BRL 5,000 for 12 months will charge BRL 44.20 more after the last installment is paid. If done in financial, the operation will be R$ 28.87 more expensive. When financing a car worth R$ 40 thousand for 60 months, the buyer will pay R$ 33.11 more per installment and R$ 1,986.41 more in the total operation.
As for legal entities, companies will pay BRL 185.81 more for a working capital loan of BRL 50,000 for 90 days, BRL 74.47 for a discount of BRL 20,000 in trade notes for 90 days and BRL 8 more for using a guaranteed account worth R$10,000 for 20 days.
Savings
Anefac also carried out simulations on the impact of the new Selic on savings income. With a rate of 10.25% 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 two scenarios. The first is for investments of up to one year in relation to funds with a rate of 2.5% per year. The second is for investments of up to two years in relation to funds with a management fee of 3% per year.
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.
