03/08/2023 – 15:43
After the Central Bank’s Copom (Monetary Policy Committee) decision to lower the Selic rate to 13.25% per year, Banco do Brasil and Caixa Econômica Federal announced a reduction in their interest rates. At BB, the reduction can reach 0.10 percentage points per month, in addition to changes in payroll loans; at Caixa, the forecast is for a drop in rates to from 1.70% per month.
+ Copom lowers Selic to 13.25% per annum; see what that means, according to economists
Over time, economic activity will tend to heat up with a possible rise in the level of consumption and investment in the country. “In addition, for debtors, it may ease the renegotiation of their obligations. It should be said that the effect of a fall produces a small impact; however, a greater beneficial effect for the economic environment is due to the expectation of a continuous reduction in interest rates”, explains Ricardo Macedo, economist and professor of Economics and Finance at Faculdades Integradas Hélio Alonso.
Considering the basic interest rate at 13.25%:
- For the financing of a R$ 50,000 vehicle, exemplifies the professor, there is a difference of R$ 11.64 per month; thus, the consumer stops paying R$ 698.40 at the end of the operation. In the case of a personal loan of BRL 10,000, paid in 12 months, the monthly difference is BRL 2.26, generating savings of BRL 27.12.
- “The benefit is smaller when financing the purchase of an appliance worth R$ 2 thousand, also in 12 months. Monthly, the difference will be R$0.45 and savings of R$5.40. However, it is worth remembering that each institution has its analysis of the risk of default, which can make it difficult to pass on the drop in interest rates to the final borrower, taking into account the volume and term of operations”, explains Macedo.
George Sales, finance professor at Ibmec, warns that the impact is small. “It started to reduce, but it is still high [a taxa]. What is expected is that the reductions happen more frequently by the BC in the next meetings. The news is good, but it is not what everyone needs, which is a greater reduction in interest rates and economic recovery”, he assesses.
- In a simulation of BRL 10,000 payroll loan at Banco do Brasil – without considering taxes and tariffs – with only the interest rate, over a period of 36 months, a monthly installment of R$ 380.46;
- With the new BB rate, the same payroll loan and with the same term will produce an installment of R$ 377.98 and a reduction of R$ 2.47 in the monthly installment. At the end of 36 months, we are talking about a reduction, in nominal terms, of R$ 89.05.
- At Savings Bank, a loan of the same amount, the payment would be R$ 376.13 – with the same term of 36 months; at the new rate, the same loan drops to R$373.72, with an accumulated reduction of R$88.48 at the end of the payment.
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