2024-05-05 06:32:25
The maximum interest rate for real estate loans rose to 11.5%, as of March 15, 2024. Starting in July, it will have monthly variations.
The maximum interest rate or interest ‘ceiling’ for real estate loans rose from 10.4% to 11.5% since March 15, 2024, according to resolution No. JPRF-F-2024-0104 of the Board of Financial Policy and Regulation.
The maximum ceiling for interest rates will remain at that value until June 30, 2024. And starting in July, the ceiling may have monthly variations, after a change in the calculation formula.
For the calculation, the effective reference active rate of the immediately preceding month will be taken into account, which corresponds to the average interest rate charged by financial entities in that month. The reference active rate for real estate credit is currently at 10.05%, that is, higher than in March 2023, when it was 9.6%, according to the Central Bank.
Ceilings by segment
This change in the calculation of interest rate ceilings already occurred in June 2023 with the corporate and business credit segments. And later, also for productive credit for small and medium-sized businesses (SMEs).
Interest rates for company loans had fixed maximum ceilings that did not change. But now they adjust each month, depending on market dynamics. As of March of this year, these are the maximum interest rates in the different credit segments:
By: PRIMICIAS