translated from Spanish: Study shows that women pay 23% more interest than men to undertake

Gender gaps are expressed in different areas of society, where women are generally disadvantaged by men only because of their gender. This was revealed by the study carried out by Chiledeudas.cl, revealing that women pay 23% more interest than men to undertake without any justification for this gap.
Faced with this situation, the director of the portal, Guillermo Figueroa, admitted that “there is no technical explanation to make women more expensive than men to raise capital for their business”.
The study was based on updated information from the Commission for the Financial Market (ex SBIF), revealing that these differences have been on the rise. If a woman wants to start in the country, the bank will give her a commercial credit with an average interest rate of 14.8%, while men are charged an average interest rate of 12%. In both cases, with an average term of 32 months to pay.
In this way, women would pay 23% more than men for the same commercial credit, which has remained worrisomely expansive over time.
Figueroa said that “this has more to do with historical prejudices towards women, even though they are better payers and with more discipline of saving than men, in general.”
Another situation that is seen in the study, notes that women on average are given half the amount of commercial credit than to men and at higher cost. Meanwhile, for the same consumer loan taken over a 50-month term, women are charged an average interest rate of 12%, while men are charged an average interest rate of 10.5%. So women pay 14.2% higher than men for the same consumer credit.
In the same vein, women on average give them 30% less in amount of consumer credit than men and higher cost. “For a consumer credit of 1 million pesos, the woman will end up paying 1,148,000 pesos, and the man will end up paying 1,120,000 pesos, which is in technical, inexplicable terms,” illustrates the responsible indebtedness expert, Guillermo Figueroa.
Figueroa warns that “our country is the only one in the world that collects financial data considering the gender aspect” and, in addition, there is discrimination against women in the credit system. Worrying points that must be overcome in order to move towards development “even more, amid the social demands that have been put on the table in the country”.
Faced with this, the commercial engineer leaves seven key recommendations to take a credit in the best way:
1) Before taking a loan, quote and compare between financial institutions.
2) Make sure you have the information you need to decide correctly about taking a credit.
3) Do not only compare interest rates, and also look at the Annual Equivalent Charge, CAE, which covers all expenses associated with the credit.
4) Ask and clarify each of your doubts.
5) Do not make financial commitments without first reading and fully understanding what you sign.
6) Also read and understand before signing the contract annexes.
7) Keep your data completely confidential.
Finally the expert called for not forgetting that responsible indebtedness “corresponds to 25% of the amount of your income. If you are between 30 and 40% of your entries, you are at a dangerous threshold and you have to order quickly. If it exceeds 60% of its salary, it is placed in over-indebtedness and is likely to go into arrears, like more than 4.5 million Chileans, so you must stop acquiring liabilities immediately,” Figueroa said.

Original source in Spanish