04/01/2024 – 10:49
In the midst of the Selic falling process, the average interest rate on free credit showed a further reduction in November compared to October. The percentage went from 42.6% to 41.8% per year, the Central Bank reported this Thursday, 4th. In the penultimate month of 2022, the rate was 43.0%.
For individuals, the average interest rate on free credit fell from 56.1% to 54.9% per year from October to November.
In the corporate segment, the rate went from 22.8% to 22.2% between the two months.
Overdraft
Among the main free credit lines for individuals, special checks stand out, the rate of which increased between October and November, from 131.4% per year to 132.7% per year. In personal credit, the rate also rose, from 41.2% to 42.3% per year.
Since 2018, banks have been offering installments for overdraft debts. The option is valid for debts exceeding R$200. In January 2020, the BC began to apply a limitation on special check interest, at 8% per month (151.82% per year).
Vehicles
Data released this Thursday by the Central Bank also showed that, for the purchase of vehicles, interest rates went from 26.2% per year in October to 26.0% in November.
Interest on total credit
The average interest rate on total credit, which includes free and targeted operations (with resources from savings and BNDES), went from 30.0% per year in October to 29.5% per year in November.
In the penultimate month of 2022, it was at 31.0%.
ICC
The Credit Cost Indicator (ICC) remained stable in November compared to October, at 22.1% per year. The percentage reflects the volume of interest paid, in reais, by consumers and companies in the month, considering the entire stock of operations, divided by the stock itself.
In practice, the indicator reflects the average interest rate actually paid by Brazilians in credit operations contracted in the past and still in progress.
Spread
The spread in credit operations showed a further reduction in November. Data released by the Central Bank show that the average bank spread on free credit went from 31.1 percentage points in October to 30.8 percentage points in November.
In the individual segment, the spread increased from 44.4 to 43.7 percentage points between the two months. For legal entities, the average spread fluctuated from 11.6 to 11.4 percentage points from October to November.
The spread is calculated based on the difference between the cost of raising funds by banks and what is actually charged to end customers (families and companies) in credit operations.
The average targeted credit spread varied from 4.9 to 4.7 percentage points from October to November.
The average spread in total credit (free and earmarked) went from 20.6 to 20.4 percentage points between the two months.
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