Clipping of news on Brazilian Culture, Law and Citizenship
08/28/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Use for 30 days can earn interest up to 9.91% per month
Consumers should seek the most advantageous form time to borrow money: the difference between the rate on the loan and the bank overdraft can reach 49.6%, as reported in the last survey conducted by Procon-SP Foundation.
The difference was found this month between the largest amount charged for a loan and overdraft fee more expensive. In the table below, find out how to pay for credit modality according to the financial institution.
In the case of a loan contracted for 12 months, the biggest monthly interest calculated was 6.62% at Itaú-Unibanco. And in the case of overdraft, for use in 30 days, the highest rate was found in Santander, from 9.91%.
If the credit contract comes in the form of loan, customers of Caixa Economica Federal has more advantage: the monthly rate is 3.88%.
The financial institution is also responsible for collecting the smallest interest in the use of overdraft: 4.27% per month.
The rates currently are the result of political overthrow of interest began in May when the major retail banks have reduced the amounts charged to encourage the hiring credit.
This was possible because the basic interest rate (Selic), set by the Monetary Policy Committee (Monetary Policy Committee) has suffered consecutive reductions and reached the lowest level in the history of 8% per annum.
However, the Foundation Procon-SP emphasizes that these reductions yet have little impact on the consumer's pocket. The recommendation, therefore, is to remain cautious.
- Consumers should avoid new loans, especially in overdraft mode, which is what is showing the highest rates. The time is right to prioritize the settlement of debts and avoid accumulating debt.
All fees calculated correspond to the maxima for non-preferred, ie worth talking to the bank manager to get lower interest rates.
Other side
As reported by the Caixa Economica Federal, the bank, responsible for lower rates among the institutions surveyed, is always looking to pass on to customers the best conditions.
Since the Bank of Brazil announced that "constantly assesses interest rates and the scenery."
HSBC ponders, also through advisory, which assigns rates depending on the relationship the customer has with the bank. Interest published are taken as reference and vary according to financial market developments.
The customer relationship is also the criterion for setting rates on Bradesco as advisory information.
The other banks - Itaú-Unibanco, Safra and Santander - declined to comment until the publication of this report.
New benchmark interest rate
On Wednesday (29), the Committee will decide the new basic interest rate (Selic), currently at 8% per annum.
The Selic is an instrument of the government to secure the supply of credit from banks, financial institutions and from the stores, ie to stimulate or restrain consumption and thus control the natural progression of prices.
When the base rate rises, the money becomes more expensive and less population takes loans - to buy from homes, cars and appliances to hire services, among others. Thus, the escalation of inflation decreases.
Source: The Day Online
Our news are removed entirely from the sites of our partners. For this reason, we can not change their content even in cases of typos.
This article was translated by an automatic translation system, and was therefore not reviewed by people.