Private banks are even more risk-averse when granting a loan. In Brazil, the largest private bank, Itau, offers personal loans with an annual interest rate that can go up to 172.85%, according to its website. In Argentina, the annual interest rate offered by the largest private player, Banco Santander, can reach 230%.
Crypto Loans Are Booming in Latin America Amid Runaway Bank Rates and Inflation
