Bancredito bank in Costa Rica lowers interest rates

Starting February 15, a 2 percentage point decrease in the rates will come into effect for home and small and medium business loans with balances lower than $69,246."

Thursday, February 5, 2009


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Nacion.com says that "Said measure will last for 24 months, although it will be revised annually.

These measures are in response to the request from the Government that the banks reduce their rates in order to deal with the crisis.

More on this topic

Caps on Interest Rates in Costa Rica

August 2013

A bill proposes to limit interests on all forms of credit, prohibiting setting interest rates unilaterally.

A press release from the Ministry of Economy, Industry and Trade of Costa Rica reads:

The President of the Republic, Laura Chinchilla Miranda, Vice President Luis Liberman and the Minister of Economy, Industry and Trade, Mayi Antillon Guerrero, today introduced a bill that seeks to establish limits to define credit usury, through the establishment of economic indicators that would be adjusted periodically.

Costa Rica: National Bank lowers interest rates

February 2009

Effective February 15 the bank will reduce its interest rate for housing loans lower than $89.000 (¢50 million) by 2 percentage points.

Nacion.com reports on its website: "The Popular Bank also agreed to reduce its interest rates by 2 points starting on March 1.

These banks have joined the Bank of Costa Rica and the Bancredito Bank in reducing their rates at the request of the Government in order to deal with the economic crisis."

BCR lowers interest rates in Costa Rica

February 2009

The Bank of Costa Rica (BCR) lowered interest rates for loans for housing and small and medium businesses by two percentage points.

Nacion.com reports on its website: "The reduction in the interest rates is effective from Sunday February 1.

These measures are a part of the program presented yesterday by the BCR called: "A Hand in Support."

Costa Rica: Banks toughen access to credit for real estate

June 2008

Financial companies are trying to protect their capital against a possible further rise in interest rates.

Access to loans within the real estate sector will be more rigorous. The old refrain, "Better to prevent than lament" is being applied at some local banks, as one of the results of the sub-prime crisis in the United States.

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