
Monetary and Credit Statistics released on Monday (Apr. 27) by Brazil’s Central Bank indicate that households remain under pressure from high borrowing costs and are turning to short-term options such as credit cards.

In March, the average interest rate on unsecured credit to individuals remained high at 61.5 percent per year, despite a monthly decline of 0.4 percentage points (p.p.).
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With Brazilians paying such high interest rates, delinquency on total credit in the National Financial System (SFN) stood at 4.3 percent of the portfolio in March, down 0.1 percentage points (p.p.) in the month but up 1.0 percentage point over 12 months.
Among households, the rate reached 5.3 percent, up 1.4 percentage points over one year.
According to the bank, Brazilian household debt reached 49.9 percent of the SFN’s total credit in February (up 0.1 percentage points in the month and 1.3 percentage points over 12 months), while the share of income committed to debt reached 29.7 percent (up 0.2 percentage points in the month and 1.9 percentage points year over year).
Household credit continues to expand
The outstanding balance of credit operations in the National Financial System (SFN) totaled BRL 7.2 trillion in March, up 0.9 percent in the month.
Credit to households reached BRL 4.5 trillion, up 0.8 percent in the month and 10.9 percent over the past 12 months.
For unsecured credit to individuals, the balance reached BRL 2.5 trillion, up 1.1 percent in the month and 12.3 percent compared to March 2025. The Central Bank highlighted the increase in cash credit card transactions, payroll loans for private-sector workers, and auto loans.
Credit directed at households - which includes lines with terms and conditions defined by specific rules - totaled BRL 2.0 trillion, up 0.5 percent in the month and 9.3 percent over 12 months.
Expanded credit reaches BRL 21 trillion
Total credit extended to the non-financial sector reached BRL 21.0 trillion in March, equivalent to 162.3 percent of gross domestic product (GDP—the sum of all final goods and services produced in a country, state, or city, generally over a year), down 0.3 percent in the month. Over 12 months, it increased by 11.2 percent.
Of the total, credit to companies reached BRL 7.1 trillion, up 1.5 percent in the month, driven mainly by private debt securities, external loans, and SFN operations.