Costa Rica: National Bank lowers interest rates

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

Friday, February 6, 2009 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."

More on this topic

Mortgage Interest Rates in Costa Rica Touch Floor

July 2013

From the 14% recorded last September, interest rates for housing loans in colones are down to 10%, a figure at which the indicator seems to have settled.

Several factors have influenced this behavior:
There have been no significant changes in the passive base rate, which many home loans are linked to.

BNCR Acquires 13,000 Payment Terminals

August 2010

Costa Rica's Banco Nacional has ordered more than 13,000 point of sale (POS) fixed and mobile terminals from Hypercom Corporation.

According to Hypercom, the multimillion dollar transaction will be rolled out over four years with countertop and mobile plastic card payment terminals supplied by one of the company's authorized distributors, Evertec Latin America.

Bancredito bank in Costa Rica lowers interest rates

February 2009

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." 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.

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. 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."

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