Given the prevailing situation of high inflation, which has led to rising interest rates and therefore to a possible increase in credit, the National Commission for the Protection and Defense of Users of Financial Services (Condusef), recommended that the population compare the conditions of this before contracting it, in addition to protecting savings against a possible loss of value, and investing them in instruments such as Treasury Certificates (Cetes).
In an analysis, the agency specified that the effect of this probable increase will not be the same for the different types of credit Much less will it be given at the same time, which is why he stressed that those interested in contracting financing should evaluate the offer more carefully, compare and analyze its terms and conditions, in order to avoid paying more not only based on the rate, but also by the commissions that are charged.
It revealed that about 71% of people who have credit or carddid not compare other similar products before hiring, a situation that can now have them paying much more for the same.
As an example, he mentioned that the difference of one percentage point in a mortgage loan of 1,200,000 pesos at 15 years, may imply paying 141,000 pesos more at its term.
The Condusef considered that credit products with variable interest rates or those denominated in a currency other than the peso, should be evaluated more carefully, since they will very possibly be the first to experience increases in the face of the inflationary pressures presented internationally.
On the other hand, those people who already have contracted credit products at a fixed rate will not see any affectation, as long as it is valid and they do not incur defaults.
In the case of credit cardwhose interest rate is variable and fluctuates from month to month, the commission recommended that cardholders pay more than the minimum required, and thereby avoid higher costs.
Also, he called for great care when consulting digital applications, since in some cases, he said, they do not clearly indicate the interest rates they charge and the commissions that may apply.
Consult catalog of financial products and services
Due to the above, the Condusef urged to compare very carefully what the market offers according to the type of credit that is intended to be contracted, for which the tools available to it can be used, such as the National Catalog of Financial Products and Servicesas well as simulators and comparators.
Similarly, pay more attention to debt levels and payment capacity, especially when credits have a variable interest rate; and if you have already decided to buy a car or a home, he pointed out that it is important to evaluate the operation in advance, to avoid a possible increase in credit and that the increase in prices reduces the money that is already set aside for it.
take care of savings
On the other hand, the Condusef He stressed that another effect of inflation is that money is enough for less, so actions must be taken to protect it and it can give a return, which is possible, he explained, if you take a few minutes to investigate options at your fingertips .
One of these, he said, is to invest Cetes from amounts of 100 pesos, or in Promissory Notes with Yield Settleable at Maturity (PRLV), from 10 thousand, in order to get more out of the money that is now inactive or in a traditional account.
rrg