The Financial Superintendency of Colombia (SFC) made a new adjustment to the usury rate, which will have a new low in January 2025which represents new news for credit users in the country.
(Read: Reasons why using a credit card this December can be cheaper).
According to the most recent certification, issued by the SFC, Since January, the usury rate that will govern the country at the beginning of the year will be 24.89 percent effective annually..
This new rate represents a drop of 1.50 points compared to the one that prevailed in December, which was 26.39%.
(Here: Petro defended adjustments to subsidies in 2025: ‘they are for poor children, women and the elderly’).
Besides, It constitutes a reduction of more than 10 percentage points than that reported in the same month of this year, Well, at that time, the usury rate was 34.98%.
It should be noted that the usury rate continues its downward trend, which began in May 2023.
(Besides: Unemployment falls, but informality remains: factors that would explain this phenomenon).
In its definition, The usury rate is the maximum interest that a financial institution can charge its clients for consumer and ordinary credit..
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