The usury rate (legal interest cap) is the maximum interest that can be charged on a loan in Colombia. It equals 1.5 times the current bank interest rate (interés bancario corriente) that the Superintendencia Financiera certifies for each loan type. Charging above that cap is not legal.
What it is and how it is calculated
The current bank interest rate (interés bancario corriente) is the average of the rates banks charge for each type of loan. The Superintendencia Financiera de Colombia certifies it periodically. The usury rate (legal interest cap) is that rate plus half of it: 1.5 times the current bank interest rate.
Example: if the current bank interest rate for a loan category is 20% effective annual, the usury rate for that category is 30% effective annual.
There is a usury rate for each loan type
The Superintendencia certifies the current bank interest rate (interés bancario corriente) by loan type, for example consumer and ordinary credit or low-amount credit. That is why there is no single usury rate: the one that applies to a loan depends on its type.
Compare using the effective annual rate
The usury rate is published as an effective annual rate (E.A.). If your loan is agreed at a monthly rate, it must first be converted: 2% monthly equals 26.82% E.A., while 3% monthly equals 42.58% E.A.
With BankIA’s rate converter you do it in one step and see all the equivalents.
Who it applies to
The cap does not depend on who lends: it applies to banks, to cooperatives and also to individuals and groups, such as a natillera (a Colombian savings circle) that lends to its members. Charging above the usury rate can have civil and criminal consequences; if in doubt, consult a lawyer.
Where to find the current rate
The current usury rate, with its effective date and the official source, is on BankIA’s indicators page. The data comes from the open data of the Superintendencia Financiera de Colombia (datos.gov.co).
What BankIA does with the usury rate
For loans in Colombian pesos on BankIA and CooperativIA, the platform compares the loan’s rate with the current usury rate and does not allow recording one above it. The loan simulator also warns you if your rate exceeds it.
Last updated: October 9, 2026. Written by the BankIA (jsadsAI) team. Educational content: it does not constitute financial or legal advice.
Frequently asked questions
How often does the usury rate change?
The Superintendencia Financiera certifies the current bank interest rate (interés bancario corriente) periodically, so the usury rate changes with it. Always check the one in force on the date of your loan.
Is the usury rate the same as a loan’s rate?
No. The usury rate is the maximum allowed; institutions charge rates that are almost always below it, depending on risk and loan type.
Does the usury rate apply to loans between friends?
Yes. The cap applies to any money loan with interest, even between individuals.
Keep exploring
Indicators
Today’s TRM, current usury rate and upcoming holidays in Colombia, with the source and date of each data point.
Open →Rate converter
Convert an effective annual rate to a nominal rate paid in arrears or in advance (monthly, quarterly, semiannual) and back, with the formulas shown.
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Calculate the installment, interest and amortization schedule of a fixed-installment loan and compare your rate with the usury rate in Colombia.
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