The maximum rates applicable to personal credit will decrease in the fourth quarter of the year, which represents a change from the previous period. This decrease applies to both the annual effective cost rate (TAEG) and the annual nominal interest rate (TAN), which are the main indicators used to limit the costs of loans to consumers.
In the opposite direction, maximum rates for automobile credit will rise in the same period. This increase also affects the two reference indicators, TAEG and TAN, which establish the upper limits that financial institutions can charge for financing the purchase of vehicles.
The rates set today apply during the last three months of the year, that is, during the fourth quarter. These values are established by supervisory authorities and define the framework for credit operations granted to consumers during that period.
