The Financial Superintendence certified the effective annual Current Banking Interest for the type of consumer and ordinary credit at 21.28%an increase of 88 basic points (0.88 percentage points) compared to the previous certification of June (20.40%).
(Read: Increases in gas cylinders are coming due to the end of the subsidy).
Additionally, it certified the effective annual Current Banking Interest for the microcredit modality in 39.47%, which represents an increase of 150 basic points (1.50 percentage points) in relation to the previous certification (37.97%).
The entity said that the remuneration and default interest may not exceed 1.5 times the Current Bank Interest, that is, 31.92% annual effective for the modality of consumer and ordinary credit and 59.21% annual cash for microcredit.
He recalled that for the purposes of the norm on usury, this crime can be incurred by anyone who receives or collects, directly or indirectly, in exchange for a loan of money or for the sale of goods or services for a term, utility or advantage that exceeds half of Current Bank Interest that the banks are charging for the corresponding periods.
For the modality of consumer and ordinary credit, it stands at 31.92% annual effective, a result that represents an increase of 132 basic points (1.32 percentage points) with respect to the previous period.
For the mode of microcredit is 59.21% annual cash, an increase of 225 basis points (2.25 percentage points) compared to the previous period.
(Also: Banco de la República increases interest rate to 7.5%).
The Superfinanciera also certified the Current Banking Interest for the credit modalitylow consumption rate of 30.35% from October 1, 2021 to September 30, 2022.
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