Personal finance in Mexico
The rate they advertise isn't what you pay.
Zona Ciega explains loans, cards and credit in Mexico, with every number linked to its source.
Check your own numbers
Copy the numbers from an offer or a statement and see what it really costs you.
Banxico's own example10,000 pesos, 13 weekly payments, a 200-peso opening fee.
Advertised rate42.0%
What it really costs a year147.8%
- Loan true costWhat a loan offer really costs you a year, the way Banxico calculates the CAT.
- Credit card payoffHow long your card takes to clear, and how much of each payment only covers interest.
- MortgageThe monthly payment and full cost of a home loan, with or without Infonavit.
- Payroll or personal loanThe same money borrowed both ways, and the difference in pesos.