agrarian Bank it will lend money to the producers of the Colombian countryside at the lowest cost than any other financial entity in the country. To this end, it fixed its annual interest rate for small producers at 15.65 percent, this is an average monthly rate of 1.22 percent; 15.51 percent for rural women, and 15.62 percent for rural youth, according to what was announced to Hernando Chica Zuccardi, president of the entity.
(Also read: Bankers agree to help the most vulnerable with low rates)
This is the second reduction in the cost of its credits that the entity has made in less than three months and the decision joins the wave of rate cuts that Colombian banks have been carrying out since the previous week in an effort to alleviate the burdens on million debtors in a situation of high inflation, economic slowdown and high cost of credit.
The reduction in Banco Agrario’s rates also covers those that apply to the entity’s credit cards. Dynamics, for example, will now have a rate of 19.8 percent, while the agro-inputs, it dropped to 21.3 percent effective per year, one of the lowest rates in the market. This card is exempt from a handling fee, which makes it even more attractive for savings, since this represents between 6 and 8 percent additional per year compared to similar cards from other banks, the entity’s directives point out.
It may also interest you: Other banks in the country will join the lowering of rates on credit cards)
With this decrease in their interest rates, he points out Zuccardi Girl, The Bank aspires not only to continue promoting the agricultural sector, but also to improve the customer experience, while, with the financing of the lines of working capital and investment “we aim to motivate and encourage the acquisition of credit to our small producers and support the sustainability of the Colombian countryside, as well as the country’s food production,” said the manager.
He said the goal is disburse this year 4.2 trillion pesos among more than 412,000 clients, as follows: Rural Woman, 1.5 billion; Small Producer: 1.3 billion; Agrolisto: 799,594 million; Rural Youth: 449.861 million; and Green Credit: 194,806 million.
Chica Zuccardi said that this “plan to reduce interest rates is accompanied by a policy that we have been working on and that aims to increasingly improve the service to our clients, complemented by a powerful innovation and digitization strategy in all our operations. , in such a way that we have obtained important results in dematerialization of processes and reduction in credit approval times”, among other advances.
