La The usury rate has become a key benchmark To understand how much banks and other financial institutions can charge for the loans they offer. Although it's often seen as a technical detail, in practice it determines how much a person ends up paying to finance a purchase or to defer debt payments.
In Colombia, at the beginning of 2026, there has been a downward adjustment in the usury rate applied to consumer and ordinary loanswhich provides a slight respite for those who use t or they resort to loans of this type. Even so, it is still a level that requires caution with borrowing.
What is the usury rate and who defines it?
In Colombian regulations, the The usury rate is the maximum legal interest rate. that a financial institution can charge for a loan, whether as compensatory interest (paid for the use of the money) or default interest (applied for late payments). Anything above that limit is considered usurious.
According to current regulations, Charging above the usury rate constitutes a punishable offense.since it could constitute the crime of usury. In these cases, the loan agreement may be affected, and the debtor would have the right, at a minimum, not to pay the interest considered illegal.
The calculation starts from the so-called Current Bank Interest Rate (IBC)This is the average of the rates actually charged by banks and other credit institutions for each type of loan. This value is the starting point for setting the maximum permitted limit.
La Financial Superintendence of Colombia It is the body responsible for collecting the information submitted by credit institutions, calculating the IBC (Base Contribution Index), and certifying it periodically through a resolution. This certification is carried out, depending on the type of credit, with different frequencies: monthly, quarterly, or annually.
For the operations of consumer and ordinary, microcredit and low-amount consumerThe Superintendency takes the financial and accounting data submitted by the banks and supervised entities and, based on that, publishes the rates that will serve as a reference for the entire system.
Calculation of the usury rate: the ratio 1,5 times the IBC
The Bank of the Republic explains that The usury rate is calculated as 1,5 times the current bank interest rate. for each option. That is, the IBC is multiplied by 1,5 and the result marks the maximum interest rate allowed.
For example, if the IBC for consumption and ordinary outside of 19,16% effective annualApplying the formula, we get: 19,16% x 1,5 = 28,74%. This 28,74% would then be the legal limit that no entity can exceed when charging interest on a loan of this type.
In practice, this means that The usury rate is not an arbitrary figure.But It moves according to real rates which the financial system is applying. If banks lower the average cost of their loans, the IBC falls and, consequently, the maximum legal limit is also reduced.
It is important to distinguish between compensatory interest and default interestThe first refers to the return or price agreed upon for lending capital for a specific period; the second is the compensation charged to the debtor for late fulfillment of their obligation according to the agreed term. Both are subject to the usury rate limit.
According to the central bank's explanation, The aim of this mechanism is to prevent users from paying disproportionate interest rates.while at the same time preventing financial institutions from receiving remuneration for the risk they assume when lending money.
Usury rate for January 2026: key figures
For the period between January 1 and 31, 2026The Financial Superintendency certified a further reduction in the reference interest rates for consumer and ordinary loans. Based on information reported by credit institutions between November 28 and December 19, 2025, Resolution 2288 of 2025 was issued.
In that resolution, the The current bank interest rate for consumer and ordinary loans was set at 16,24% effective annual rate.This figure represents a decrease of 44 basis points (0,44 percentage points) compared to the value in force in December 2025, when it stood at 16,68%.
Starting from that IBC, and applying the factor of 1,5 times, The usury rate for consumer and ordinary loans was set at 24,36% effective annual rate for January 2026This represents a decrease of 0,66 percentage points compared to December, a period in which the peak was at 25,02%.
The immediate consequence is that It lowers the maximum interest rate that banks and financial institutions can charge. for consumer and ordinary loans, including purchases made with credit cards that are paid in installments or deferred balances on these products.
According to the entities consulted in different economic media, Purchases financed during January will be somewhat less expensive in terms of interest. than those carried out in December, provided that similar terms and amount are maintained.
Impact on credit cards and users
The credit card is one of the products where The effect of the usury rate is more noticeableThis is because it typically applies one of the highest rates in the consumer loan category. Even a moderate reduction in the cap will affect the interest accrued on outstanding balances.
With the new usury rate of 24,36% effective annual, Financed purchases and deferred payments will see a slight reduction in the financial cost compared to the previous month. Even so, the interest rate level remains high, so heavy card use can still be expensive if outstanding balances accumulate.
Financial sector analysts insist that The real problem arises when the user falls into arrears.In the words of experts like Juan Pablo Vieira, the usury rate "only comes into play when there is a delay," and a delay of just 24 hours can already trigger the charging of the maximum permitted interest on the debt.
Given this situation, it is advisable Avoid financing high-value purchases with a credit card. when interest rates remain at high levels, as it is one of the most expensive forms of borrowing in the medium term.
Another common recommendation is Activate payment alerts and reminders offered by financial institutions, in order to reduce the risk of forgetting a payment and falling into arrears due to a simple oversight, which could trigger the application of the maximum usury interest rates.
Other rates linked to usury by type of credit
In addition to consumer and ordinary loans, the Financial Superintendency It certifies annual effective rates for different types of credit.These serve as the basis for determining their respective usury limits. Each segment reflects a different level of risk and, consequently, disparate interest rates.
In the productive sphere, the higher amount credit It stood at an effective annual rate of 26,80%, while the rural productive credit It was set at 18,65%, below the urban productive credit, which reached 38,49%.
In the popular segment, used by micro-businesses and smaller-scale activities, The rates are significantly higherRural productive popular credit stood at 50,88%, and urban productive popular credit stood at 59,83%, reflecting a greater risk perceived by the entities in these loans.
For other types of financing, the financial authorities have also published specific usury limitsFor example, low-value consumer credit—aimed at small but relatively high-risk transactions—has a legal maximum interest rate that is significantly higher than that of traditional consumer credit.
Taken together, these figures show that The cost of credit depends largely on the type of product and the associated risk profile.Although the usury rate acts as a general protection, users should pay attention to the specific rate that applies to the modality of the loan they take out.
The usury rate in December 2025: previous context
The downward movement observed in January 2026 comes after a period in which The usury rate had been registering relatively high levelsBy December 2025, the cap for consumer and ordinary loans was set at 25,02% effective annual interest.
That value was derived from a Current Bank Interest Rate of 16,68% For this type of loan, the rate increased compared to November, when the maximum rate was 24,99%. As a result, loans granted in December, especially those related to Christmas purchases, became slightly more expensive.
In that same month, the Financial Superintendency also announced the rates in force for other types of creditFor example, low-value consumer credit stood at 45,16% effective annual interest, while higher-value productive credit was set at around 27,32%.
In the rural and urban productive sectors, the figures were close to 18,62% and 38,85%In the popular segment, the caps were around 49,58% for rural credit and 59,94% for urban credit, respectively. This data serves as a reference point to understand the levels from which some of the currently certified rates have fallen.
In practical terms, Families and businesses that took on debt in December did so under somewhat less favorable conditions. than those in force in January 2026, if only the legal limit of interest allowed by the regulation is compared.
What happens if the usury rate is exceeded?
Colombian legislation is clear in stating that Charging interest above the usury rate is illegal behavior.The Penal Code classifies usury as a crime, so that the entity or person that applies an interest rate higher than permitted is exposed to criminal consequences.
Furthermore, from a civil point of view, Contracts that exceed the usury rate may be challenged. and the debtor would have the right, in many cases, to pay only the borrowed capital, excluding interest that is considered usurious.
The Financial Superintendency, as a supervisory body, monitors compliance with these limits by credit institutionsIf it detects irregularities, it can impose sanctions and order adjustments to contracts to bring them into compliance with regulations.
Therefore, it is recommended that users Review the effective annual interest rate in detail They can compare the fees they are being charged on their financial products with the published official limits. If they have any doubts, they can contact the financial institution for clarification or to file a complaint.
In cases of alleged usury, It is also possible to resort to financial consumer protection agencieswho can provide guidance on the steps to follow and, if necessary, accompany processes before supervisory or judicial authorities.
Tips to reduce the impact of a high usury rate
Although the recent decrease in the legal interest rate cap for January 2026 provides some relief, Rates remain relatively high compared to other times in the economic cycleTherefore, managing personal debt remains a key aspect.
One of the most repeated recommendations by experts is pay loan installments on timeand even anticipate the deadline when possible. By avoiding late payments, you reduce the risk of maximum interest rates being applied and the debt becoming expensive rapidly.
Another common suggestion is limit the use of credit cards to finance large purchasesEspecially during periods of high interest rates. Whenever possible, it's preferable to use credit options with lower rates or shorter repayment terms that allow you to settle the debt more quickly.
It is useful to take advantage of the Digital tools offered by banks, such as SMS alerts, email, or mobile applicationsThese reminders, which are reminders of payment due dates, can help prevent oversights that could lead to late fees and the application of the maximum permitted interest.
Finally, the experts recommend Compare offers from different providers Before taking out a loan, carefully review the terms and choose financing options that match your actual ability to pay, avoiding committing more income than is reasonable to maintain a healthy budget.
The new usury rate level for January 2026, with a cap of 24,36% for consumer and ordinary loans and specific references for other types of loans, It marks a somewhat more favorable scenario than that of the end of 2025However, it still requires caution. Understanding how this limit is calculated, its legal implications, and how it affects products like credit cards allows users to make more informed financial decisions and better protect themselves against potential interest rate abuses.
