Economia Quitação Antecipada

How early-payoff savings are calculated

BCB Resolution 4.292/2013 requires Brazilian lenders to grant a pro-rata rebate on future interest whenever a borrower pays off a loan ahead of schedule. Roughly speaking, the savings come out to the present value of the interest that would still be charged between the payoff month and the end of the original schedule, written as savings ≈ Σ interest_k for k from the payoff month onward. Settle sooner and you skip a bigger chunk of that remaining interest.

Take R$ 300,000 at 0.9% per month over 360 months under SAC, settled in month 60. You still owe the contractual balance, but the interest you avoid across the next 300 months is the real gain. Since the financed rate (10–15% per year on housing, 20%+ on consigned or CDC) sits well above what most savings instruments pay, clearing the loan early effectively "earns" you a return equal to the loan rate. On a risk-adjusted basis that is usually hard to beat.

Real-world applications

People generally go one of two ways here. You can shorten the term, where extra amortization keeps the installment the same but ends the loan sooner, or you can reduce the installment, which holds the term steady and frees up monthly cash. Where does the money come from? Often the 13th salary, profit-sharing (PLR), an inheritance, RPV/precatório receipts, or a refinancing move that swaps expensive debt for cheaper credit such as consigned, home-equity, or portability under BCB Resolution 4.762/2019.

FAQ

Can the bank refuse to apply the rebate? It can't. Resolution 4.292/2013 makes the pro-rata interest rebate mandatory for individuals and small businesses on installment contracts.

Should I shorten the term or cut the installment? Shortening the term saves more interest in absolute terms, while cutting the installment eases your monthly cash flow. The right call depends on whether you're squeezed more by total cost or by the monthly budget.

Is paying off the loan better than investing? When the loan rate beats the after-tax return on your best investment alternative, yes. Clearing the debt "yields" the loan rate with no risk attached.