Due to the decision of various banking entities to lower their interest rates In some of their credit products, these same companies accompany these discounts with other services, in order to give the implicit message of encouraging consumption in the market.
This situation can be seen represented in the interest rates of various services that entities can offer in different areas, taking into account the strong competition that exists in the banking sector due to these initiatives, as explained Edgar Jiménez Méndez, professor and director of the Financial Laboratory of the Jorge Tadeo Lozano University of Bogotá.
(Why if card interest fell, the usury rate rose).
“It is possible, and if it does happen, it would be in the short term. Also to the extent that macroeconomic conditions allow it and that inflation, at least, stabilizes around where it is.”, he explained.
The expert also assured that the safest thing is that the services in which these new rates are seen are those that are focused on the sector of real estatemore specifically in the mortgages.
(The Bank of the Republic raised interest rates to 13%).
“It is possible that there is some type of promotion or offer on the side of the mortgage loan or on the housing side. It is very interesting since the rates have risen significantly and there may be more possibilities”, he added.
(The risks of Colombian companies when requesting loans).
He also assured that the offer can be extended to other sectors, taking into account the new number of interests of the Bank of the Republicentity that announced the rise of this figure to 13% during the last meeting of the board of directors.
(New upturn in remittances, up 23% in February).
“You have to be aware of those opportunities, offers or promotions, since the interest rate is the price of money. To the extent that the interest rate is a little lower, there will be more demand to buy the goods or services that have been postponed precisely because the rates are very high and because inflation does not help”, he emphasized.
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