According to monetary and credit statistics released by the Central Bank, in August, average interest rates charged by banks rose to families and companies.
Among the credit modalities for individuals, the main highlight was the revolving credit card, whose rate rose 5.3 percentage points and reached 451.5% per year, one of the highest on the market.
This modality is triggered when the customer does not pay the total amount of the card invoice and the rest comes as an automatic loan, valid for up to 30 days.
Even with the rule in force since January last year that limits the collection of interest on revolving credit, the fees are still high and there has been no significant reduction over the months. This is because the measure was designed to reduce excessive indebtedness, but does not interfere with the interest combined at the time of contracting the credit.
In the 12 months closed in August, the cost of the rotary for families increased by 24.6 percentage points, reflecting the continuity of pressure on who uses this line of credit.
