Economic growth

Measure anticipates part of the effects of the decision of the National Monetary Council (CMN)

Banco do Brasil announced on Tuesday (14) a further reduction in interest rates for the revolving credit card. In January, the bank had already lowered the fees charged on payment of the minimum amount of the invoice.

According to a statement from the institution, the measure anticipates part of the effects of the decision of the National Monetary Council (CMN), which limited the use of the credit card to 30 days.

In general, the fees charged for the bank cards now vary from 1.92% to 9.79% for the revolving credit card and 1.91% to 9.38% for the installment. Previously, the interest charged on the paper came to 12.28%.

The new rates come into effect from invoices due on April 3, the deadline for credit card operators to implement the changes defined by the CMN.

Court in the Selic

Shortly after the reduction of the basic interest rate to 12.25% per annum, Banco do Brasil reduced the rates charged on its credit lines, including the revolving credit, for both companies and corporations. Itaú Unibanco and Bradesco also implemented a cut in interest rates after the Selic rate fell.

Source: Portal Brasil, with information from Banco do Brasil