A blow to Colombians' wallets: usury rate for March rose and purchases will be more expensive
The usury rate is managed as a fundamental concept for anyone who manages a credit card or seeks a consumer loan, it represents the maximum interest a lender can legally charge for a credit.
TL;DR
- The usury rate for March 2026 has been set at 25.52% effective annual interest for consumer and ordinary credit.
- This represents an increase of 29 basis points compared to February's rate of 25.23%.
- The Current Banking Interest rate for this period was certified at 17.01%, leading to the new usury cap.
- Consumers with credit cards will experience higher costs for installment purchases and cash advances.
- The usury rate is defined as 1.5 times the Current Banking Interest rate.