In March 2009, the average interest rate on loans over $650,000, stood at 9.75%, changing to 9.29% in December 2010 and in March of this year is was 8.43%, showing a downward trend.
"Loans of less than $650,000 and higher than $23,000 show the same characteristic. In 2009 the rate was 13.91%, the following year it was 13.75% and in March 2011 it fell 13.23%. "
In the case of microcredits, the trend is upward.
"Loans of $23,000 and less, intended for microcredit consumers, continue to increase. In the first case, the weighted average interest rate in March 2009 was 24.18%. The following year it was 26.46%, while in March this year it reached 26.65%", reported an article in Sigloxxi.com.gt
Source: sigloxxi.com
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March 2011
The average interest rate charged by banks to corporate customers has fallen more than 10% over the last 2 years.
In December 2008, the average rate for corporate loans over $ 650.000 was about 9.72%, dropping to 8.55% in February 2011.
Luis Lara, CEO of Industrial Bank, stated that they have not seen such low rates in the country for a long time, which is good because "it allows for meaningful projects to get done."
July 2008
Managers of small business firms in Honduras are complaining about the difficulty of getting credit at reasonable rates. Financial organizations say the credit is there and the process isn't onerous.
However, interest rates for this sector are between 19 and 36 percent per year. Some financial institutions charge interest according to the outstanding balance, but in other cases rates are fixed.
January 2011
Over the last ten years interest rates for loans has shown a downward trend.
According to information from the Panama Superintendence of Banks, the interest rates for commercial loans decreased from 10.5% to 7.5% and for consumer loans the reduction in rates was 2.8 percentage points from 12.7% to 9.9%.
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."
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