Interest rates on loans remained stable in March, according to Anefac.

Interest rates on credit operations remained stable in March 2026, for both individuals and businesses, according to the ANEFAC Interest Rate Survey. According to Miguel José Ribeiro de Oliveira, executive director of ANEFAC, given that the Central Bank has already begun the process of reducing the Basic Interest Rate (Selic), this movement tends to contribute to a decrease in interest rates on credit operations in the coming months. "However, given the crisis in the Middle East and its impacts on the global economy, there is a risk that the Central Bank will choose to keep the basic interest rate (Selic) unchanged, which could delay a more consistent downward movement in interest rates charged on credit operations." :: Individuals Of the six credit lines surveyed, two maintained their interest rates for the month (retail interest and revolving credit card interest), one reduced its interest rate for the month (CDC – banks – vehicle financing), and two increased their interest rates for the month (personal loans – banks and personal loans – finance companies). The average overall interest rate for individuals showed a variation of 0.00 percentage point in the month (0.00 percentage point in the year), which corresponds to a variation of 0.00% in the month (0.00% in twelve months), remaining at 7.02% per month (125.72% per year) in February 2026, maintaining the same level in March 2026, this being the highest interest rate since October 2025. :: Legal Entity Of the three credit lines surveyed, one reduced its interest rate in the month (guaranteed account) and two increased their interest rates in the month (discounting of receivables and working capital). The average overall interest rate for legal entities showed a variation of 0.00 percentage point in the month (0.00 percentage point in the year), which corresponds to a variation of 0.00% in the month (0.00% in twelve months), going from 3.99% per month (59.92% per year) in February 2026 to 3.99% per month (59.92% per year) in March 2026, this being the highest interest rate since October 2025. :: Interest Rate vs. Selic Considering all the increases and reductions in the basic interest rate (Selic) promoted by the Central Bank since January 2021, it is observed that, in this period (January 2021 to March 2026), there was an increase in the Selic of 12.75 percentage points, which represents a growth of 637.50%, going from 2.00% per year in January 2021 to 14.75% per year in March 2026. During the same period, the average interest rate for individuals showed an increase of 33.13 percentage points (an increase of 35.78%), rising from 92.59% per year in January 2021 to 125.72% per year in March 2026. For credit operations for legal entities, there was an increase of 18.72 percentage points (a rise of 45.44%), rising from 41.20% per year in January 2021 to 59.92% per year in March 2026. 

This text was translated by machine from Brazilian Portuguese.