the Interest rates Coverage for overdrafts by contracting companies increased at an annual average of 28% this week, putting that cost at its lowest level of the year.
This rate has reached its peak 190% nominal annual Just before the October elections, which equates to an effective rate of 433% annually.
Since the end of October, and once the elections ended, the cost of funds has taken a clear downward trend, which has deepened in recent days.
In fact, the average overdraft rate for the last 30 days was 61.8% nominally annually, according to central bank statistics. Central Bank.
Hope government Is that this cost will continue to fall in the coming weeks.
Low prices
Deposit rates have also been lowered in recent days: fixed terms now show a Performance ranges from 25% annually to 28% annually In leading private banks.
These are the rates that go along with Inflation expectations For the year 2026.
In turn, the so-called Tamarcorresponding to fixed wholesale terms (more than $1,000 million) already amounts to 28.9% per annum. This is the lowest level since July of this year.
Tamar, just a month ago, was about 40% annually.
What happens with the credits?
This reality goes hand in hand with Sudden change in expectations On the market since La Libertad Avanza won the October elections.
Exchange stability and shifting Political scene It has marked an improvement in the mood of operators and financiers, which in practice translates into a noticeable reduction in the cost of money.
From now on, there are various questions to be solved – and answered – which fundamentally affect the accumulation of reserves in the world Central Bank And the certainty that there will be dollars in the near future to meet the heavy maturities of public debt in hard currency.
This context of greater confidence in the world of finance also opened the doors to the reduction mentioned above Interest rates. What are we talking about? Banco Nación was at the forefront of the downward trend, as a reference entity for the rest of the financial system.
he Total financial cost The National Bank of Bahrain’s personal loan ratio decreased from 230% to 153% annually in recent days. This reduction translates to the following: On a $100,000 loan over 12 months, the monthly payment is reduced from $15,009 to $13,300. – 11% reduction in the fee amount.
Special case
he Bank of Galicia It also implemented a reduction in the cost of its depreciation lines.
In one of his lines Financing terrorism It increased from 213% annually to 165% annually. This means that on a $100,000 loan over 12 months, the monthly payment is reduced from $14,660 to $13,590.
The actual reduction in quotas is 7.3 percent.
Another case: case Payment market. The financial cost of its loans to total consumption decreased from 338% annually to 234% annually.
In this case, the fees increased from $16,973 to $15,090, which means a saving of 11.1% compared to what was paid.