IBC and the usury reference are not the same
The Superintendencia Financiera certifies Interés Bancario Corriente, or IBC, for defined credit modalities and periods. The reviewed source material explains the usury reference as 1.5 times the applicable IBC. The modality must be identified before performing that calculation.
Do not take the consumption-and-ordinary-credit figure and apply it automatically to low-value, productive or other credit categories. The official dashboard shows that categories can have different IBC values.
A dated example, not a current universal limit
For consumption and ordinary credit during August 2026, the approved certification states an IBC of 19.77% effective annual. Multiplying that dated category-specific figure by 1.5 gives 29.655% E.A., or 29.66% when shown to two decimals.
That calculation is included only to explain the method. It is not a universal limit and should not be reused for another period or modality without checking the corresponding official publication.
How to check a concrete contract
If the modality is unclear, request a written explanation before concluding that a rate is above or below a reference. For a current decision, always return to the current official source.
The usury reference concerns interest and should not be used as a shortcut for evaluating every contract charge. Review the complete payment obligation separately and seek appropriate advice for a dispute involving a specific contract.
- Identify the credit modality and relevant contract period.
- Open the corresponding official certification or dashboard entry.
- Ensure the compared rates use the same time period.
- Separate interest from insurance and other charges.
- Keep the contract, payment schedule and communications.