Caracas – Venezuela’s central bank, the Banco Central de Venezuela (BCV), has issued modern regulations governing interest rates and requiring all bank loans to be denominated in the Unidad de Valor de Crédito (UVC), a credit unit of value, effective April 1, 2026. The resolution, published in Official Gazette N° 43.335 on March 13, 2026 and approved by the BCV’s board on March 5, 2026, aims to standardize lending practices and control inflation, according to the official statement.
Under the new rules, financial institutions must calculate the UVC equivalent of any loan in Bolivars by dividing the loan amount by the Investment Index (IDI), a daily indicator published by the BCV that reflects the exchange rate. This move effectively ties loan values to a benchmark determined by the central bank.
Interest rates for loans within the Unified National Productive Portfolio will be capped at 12% annually, calculated on the UVC balance. A preferential rate of 6% annually will apply to loans specifically designated for the productive sector led by women entrepreneurs. Commercial and microcredit loans will be subject to a range of 13% to 16% annually, also expressed in UVC. But, loans to bank employees and executives are excluded from this range and will be capped at 90% of the current interest rate for credit card operations, as published by the BCV.
Credit card loans of 20,400 UVC or more will carry a minimum annual interest rate of 13%. Loans below this threshold will not exceed the maximum monthly rate published by the BCV for credit card operations.
The resolution also mandates specific contractual conditions for all loans. Banks must clearly outline the amortization schedule for principal and interest in UVC, allow for penalty-free early repayment, explain the UVC calculation process, and obtain explicit borrower consent regarding the financing terms. Loans with a single payment at maturity will incur an additional charge of 20%, also expressed in UVC, which will be deducted from the outstanding loan balance upon final payment.
The BCV has also set minimum interest rates for deposits. Savings accounts and liquid assets will earn a minimum of 48% annually, calculated on the daily balance. Time deposits and certificates of participation will receive a minimum rate of 52% annually. The central bank has fixed its own discount, rediscount, and advance operation interest rate at 19.2% annually.
Banks are required to periodically submit interest rate data to the BCV and publish this information in their offices and on their websites. Failure to comply with the regulations may result in administrative sanctions, as outlined in the Organic Law of the Central Bank of Venezuela. Existing loans will maintain their original terms until fully repaid.
The new regulations supersede Resolution No. 25-12-01, dated December 4, 2025. The BCV has not yet commented on the potential impact of these changes on the Venezuelan economy or the availability of credit.
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