Business

Banco Inter is fourth in mortgage lending in Brazil

Figures were released by the Brazilian Association of Real Estate Credit and Savings Entities (Abecip). Inter lent BRL 183 million in home equity in 2019

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  • In July, Inter lent BRL 32.4 million for the modality–BRL 183 million for the year;
  • At the end of August, Banco Inter reached the milestone of 3 million customers and is the seventh largest in Brazil in account-holder numbers.

According to the Brazilian Association of Real Estate Credit and Savings Entities (Abecip), Banco Inter is the fourth largest financial institution in Brazil in granting home equity credit. In July, Inter lent BRL 32.4 million for the modality–BRL 183 million for the year.

Ahead of the digital bank are three of the largest financial institutions in the country: Santander, which lent BRL 222 million in July, Bradesco (BRL 47 million), and Itaú Unibanco (BRL 44.9 million), according to the newspaper O Estado de S.Paulo.

According to Inter’s press office, the fixed rate on home equity is 1% per month. The loan terms can be up to 84 months and up to 50% of the value of the property offered as collateral.

At the end of August, Banco Inter reached the milestone of 3 million customers and is the seventh largest in Brazil in account-holder numbers. But Inter is aiming much higher: to be the sixth largest in the country by 2019.