November 26, 2022

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Two banks start charging more interest on personal loans

Two banks start charging more interest on personal loans

Check out the two institutions that have increased interest on personal loans!

Photo: Monster Ztudio / Shutterstock.com

Estimated reading time: 3 Minutes

According to a survey conducted by Procon-SP, interest paid by a person in loan Employees become more expensive in two Banks This is June. Therefore, the average interest for loan Individuals at 120.59% per year.

With higher interest rates, this type of credit line credit It became 0.74% more expensive per month. The average rate of surveyed financial institutions was 6.82% per month, an increase of 0.05 percentage points compared to the median rate in May (6.77%).

Banks that started charging more interest on personal loans

Increases occurred in Bradescowhich changed the interest from 8.43% to 8.55% per month, and in Bank of Brazilwhich adjusted its rate from 6.17% to 6.32% per month.

The Procon-SP study also determined the fees paid in the overdraft and it was not possible to indicate any changes in the six institutions surveyed. In this way, the rate remains 7.96% per month, with no change in value since February 2021. Annual rate is 150.56%.

The institution with the lowest personal loan rates are Federal Savings BankAt a rate of 4.05% per month. Bradesco stands out at 8.55% per month.

Additionally, for overdrafts, Banco do Brasil charges the lowest fee, around 7.73%. All other banks surveyed by Procon-SP charge 8% per month.

Personal Loans and Overdrafts: Charged Rates

Check out the full table of banks, personal loan rates and overdrafts.

Bank Personal Loan (Monthly) Overdraft (monthly)
Bank of Brazil 6.32% 7.73%
Bradesco 8.55% 8%
Federal Savings Bank 4.05% 8%
Itaú Unibanco 8.18% 8%
crop 5.90% 8%
Santander 7.89% 8%
Source: Procon-SP

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Photo: Monster Ztudio / Shutterstock.com