Clipping of news on Brazilian Culture, Law and Citizenship
01.28.2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Overdraft rate reached 287% per year in December, up 2.1 percentage points compared to November
The Revolving interest rates credit card and overdraft ended 2015 on a high, according to Central Bank (BC), released on Wednesday (27). The credit card Revolving interest rate increased 16.1 percentage points from November to December, when it reached 431.4% per year. Compared to December 2014, the increase is 99.8 percentage points. This is the highest rate ever recorded in the historical series of BC, started in March 2011.
Revolving credit card interest rates are prohibitive
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The revolving credit is taken by the consumer when you pay less than the full value of the card bill. This is the mode with the highest interest rate in BC research.
The average rate on interest-bearing installment purchases, the credit card invoice and installment of installments withdrawals rose 1.4 percentage point from November to December, when it stood at 136.2% per year.
Overdraft ends year at 287%
The overdraft rate reached 287% per year in December, up 2.1 percentage points compared to November. Compared to December 2014, the increase reached 86 percentage points.
The payroll loan rate (Discount payroll) rose 0.4 percentage points to 28.8% per year, from November to December.
The personal loan rate fell 2.8 percentage points to 117.6% a year.
The average interest rate charged households fell by 1.1 percentage point from November to December, when it stood at 63.7% per annum.
Source: IG
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This article was translated by an automatic translation system, and was therefore not reviewed by people.