Credit card use remains a headache for thousands of Colombians who are now more interested in comparing interest rates. Among the different banks in Colombia offering this product.
The usury rate, which is an indicator that determines the maximum interest that a bank or other organization can charge its customers for consumer products such as credit cards, according to the Financial Audit, is 25.62% per annum that will be valid for this month.
Banks that charge the most by credit card in Colombia (October 2021)
Based on those created by the regulatory agency, 5 entities closest to this maximum limit, and therefore they get the most interest:
- Scotiabank Colpatria (25.61%)
- Falabella Bank (25.61%)
- bbva (25.60%)
- Banco Popular (25.60%)
It should be noted that The usury rate is a monthly rotating indicator and remained stable for most months of the year, according to La República. The only periods when it fell were February and August, as that newspaper explained.
For several years the Superfinanciera persists and sends a warning message to the banks, because if they violate the usury rate norms, they may expose you to fines and other penalties.
“A person who receives or collects, directly or indirectly, profit or benefit exceeding half of the Current Bank Interest in return for borrowed money or the sale of goods or services at once, may be subject to this crime (usury). “We charge for relevant periods,” he said.