Clipping of news on Brazilian Culture, Law and Citizenship
08.26.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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The revolving credit card interest rate reached 395.3% per year in July, a record index for the time series which started in March 2011. The figures were disclosed today (26) by the Central Bank (BC). Compared to June, the average rate increased 23.2 percentage points.
The revolving credit card is a transaction in which the customer finances the remaining outstanding balance after paying only part of the bill. Also considered as rotating the withdrawal on credit operations function.
The head of the Economic Department of the BC, Tulio Maciel, advises consumers to avoid the revolving credit (card and overdraft). "It's a very high cost. We have explained that the revolving credit should be taken promptly by a very short time. "
The rate of purchases in installments with interest credit card bill in installments and installments withdrawals rose 1.3 percentage point from June to July, and stood at 119.5% per year.
The overdraft interest rate also rose 5.6 percentage points from June to July and stood at 246.9% per year.
In the case of payroll loans (Discount payroll), interest rates rose 0.5 percentage point to 27.8% per annum.
Since the loan interest for the purchase of vehicles fell by 0.2 percentage point and stood at 24.5% per annum. The restructured loans rate also fell 0.7 percentage point to 45.7% per annum.
Source: Agency Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.