Virtually all purchases made by the consumer have interest and tax. However, it is important to know when interest rates are abusive, which in this case would be values above the interest rate authorized by the Central Bank.
Source/Playback: original
With extremely high inflation, the value of gas, gasoline, food and others will be readjusted at all times, and this causes the Brazilian’s income to gradually decrease. The Tax on Financial Transactions (IOF), undergoes constant changes in value.
What this article covers:
How to identify abusive interest?
Beforehand, it is important to always pay attention to the amount of interest and these will be considered abusive from the moment they exceed the limits stipulated by the Central Bank. If abusive interest is detected, the consumer must request that the financing contract, for example, undergo a new reassessment.
Consumers should be aware of interest rates to avoid paying more than they should to the finance company hired for a specific service.
How to do a rate review?
The consumer, in this case, has full protection from the Consumer Defense Code, so in this way, he will have the possibility to reduce the installment values.
If the consumer considers it feasible, he can access the Central Bank website because there are margins that can be used. Note that it is necessary to compare contractual rates with the average market rate published by the Central Bank. This rate becomes abusive from the moment it exceeds the 50% limit.
That is, the interest rates that can be reduced are commission interest, interest on late payments above the recommended limit, in addition to the booklet issue rate, interest to open an account, etc.
It is essential that the consumer is always aware of the value of the fees, and if necessary, access the BC website to confirm that everything is in the standards to avoid problems.
Finally, if the finance company refuses to lower the interest rates, the consumer can go to the city’s Procon to be able to seek their rights and solve this problem.
