Reference photo.
Reference photo.
The Banco de la República maintained interest rates at 13.25 percent.
Find the validation of The Lie Buster at the end of the news.
He Bank of the Republic announced, this Friday, June 30, that it will lose interest rates at 13.25%. In addition, the Financial Superintendence of Colombia reported that it fell by 60 basis points (-0.60%), the usury rate which will be in force by July 2023.
You can also read: The unemployment rate for May 2023 was 10.5%
Thus, the usury rate for the seventh month of the year was 44.04% annual effective (EA).
In June the usury rate was 44.64%.
Between February and April, the usury rate in Colombia has decreased by 0.80 percent, according to records from the Financial Superintendence.
WEATHER / Courtesy
That same 44.04% also applies to remunerative interest and late payment.
On the other hand, the super financial certified the current bank interest for the consumer and ordinary credit modality at 29.36% EA, which represents a decrease of 40 basis points (-0.40%) compared to June 2023 (29.76%).
The Financial Superintendency recalled that “current bank interest is the basis for calculating the maximum value of remunerative and default interest defined in the Commercial Code (article 884) and to determine the effects of the usury rule defined in the Penal Code ( article 305)”.
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