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Brazilians who took out high-interest loans now have a simpler alternative to try to reduce the value of the installments. This week the possibility of transferring debts between banks directly via cell phone began to take effect, without the need to go to a branch or negotiate in person with the originating institution.
New rule allows loans to be transferred between banks / Photo: Reproduction
Until then, the process required prior contact with the bank where the loan was taken out, presentation of documents and, in many cases, face-to-face assistance. This traditional model remains available, but now shares space with a completely digital option.
In it, the customer authorizes the secure sharing of their financial data between banking institutions. With this information, other banks can present proposals to assume the debt, offering different conditions, such as lower interest rates.
According to the Central Bank, in the case of unsecured personal loans, the variation in interest rates charged in the market is wide, ranging from 1% to 21% per month, depending on the institution. This difference makes portability a relevant alternative for those looking to reduce the cost of credit.
The Central Bank’s expectation is that the new tool will increase competition between banks, giving consumers more power of choice. With easy access to offers, the customer can compare conditions and decide which institution presents the most advantageous proposal.
With the digitalization of the process, loan transfer tends to become faster, more transparent and accessible, increasing consumers’ autonomy in managing their own finances.
With information from G1
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