Clipping of news on Brazilian Culture, Law and Citizenship
02/27/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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The Central Bank increased to 10.75 % per annum Selic , which was released on Wednesday ( 26 )
With new Selic rate at 10.75% , vehicle at $ 25,000 financed over 60 months can cost up to R $ 40,176.07
The new benchmark interest rate is 10.75% per annum . The new standard was announced on Wednesday ( 26 ) by the Central Bank after the end of the meeting of the Monetary Policy Committee ( Monetary Policy Committee ) . With the rise , the use of overdraft and automobile financing became more expensive .
In the case of purchasing a vehicle at R$ 25,000 paid in 60 months with the previous Selic at 10.5 % , the value of the parcel was R $ 666.25 . At the end of the period , the car would cost R $ 39,974.88 .
With the new benchmark interest rate , the financing of the car in 60 months out with monthly installments of R $ 669.60 and the cost reaches R $ 40,176.07 after payment of all benefits , a difference of R$ 201, 19.
Read Economics and adjust their accounts
The study is the Anefac ( National Association of Executives in Finance , Administration and Accounting ) . According to the organization , the effect of the rise in the basic rate of interest is very small in credit operations .
For example, who financed a refrigerator at R$ 1,500 in 12 times will increase by R $ 2.25 in the total amount of benefits paid to an end . In practice , what once would cost R $ 1,957.09 ( Selic 10.5% ) , now will cost R $ 1,959.34 ( Selic rate at 10.75 % ) .
The use of overdraft will also rise slightly . If the account holder to use the amount of R$ 1,000 per 20 days, interest will now pay R $ 53.67 , compared to R $ 53.53 with the previous 10.5% Selic .
Basic rate
The Selic base rate is called because it is the lowest of the economy and acts as a floor for the formation of other interest rates charged in the market which are also influenced by other factors such as the risk of those who took the money borrowed not pay the debt .
It is used in interbank loans ( from banks ) and applications that make the banks in government securities . It is from the Selic financial institutions also define how much to pay interest from the investments of their clients . Ie , the base rate is what banks pay to borrow money in the market and pass it on to businesses and consumers in the form of loans or financing at a much higher cost . Therefore , the interest that banks charge customers is higher than the Selic . The Selic only influences savings income when it is equal to or less than 8.5% per year.
Source : R7
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This article was translated by an automatic translation system, and was therefore not reviewed by people.