Open Finance: 5 Ways to Reduce Interest on Personal Credit
Did you know that 7 out of 10 Brazilians who take out personal loans do not compare offers before closing the deal? This lack of comparison is costly: those who do not research can pay up to 3 times more in interest than those who use Open Finance to find the best rate (Banking Economy Report, Central Bank of Brazil, 2025).
Open Finance, which completes three years of full operation in 2026, allows you to share your financial data with different institutions—with your consent—to receive personalized offers. In practice, this means your payment history, income, and expenses can be used in your favor when negotiating credit. But how can you truly take advantage of this? This guide shows five practical ways.
How Open Finance reduces interest on personal loans
Before Open Finance, consumers depended on the bank where they had an account to obtain credit, and the rate was set based on limited information. Now, with data portability, the scenario has changed. Financial institutions can access your relationship history with other banks, provided you authorize it, and use this information to offer more competitive conditions.
The shared data includes:
- Balances and statements of checking and savings accounts
- Payment history for invoices and boleto payments
- Ongoing credit operations at other institutions
- Investments and financial applications
With this data, banks can assess your risk profile more accurately. If you have a history of on-time payments, for example, you may be classified as a lower-risk customer—and receive lower rates.
5 practical ways to use Open Finance to pay less interest
1. Compare offers on Open Finance platforms
Platforms such as the Central Bank's Credit Guide and fintechs like Creditas and Warren use Open Finance to bring together offers from multiple institutions in one place. Instead of visiting five banks, you enter your data once and receive comparable proposals.
2. Use your payment history as a bargaining chip
If you always pay your bills on time, Open Finance allows banks to see that. Use this history to negotiate lower rates. Instead of accepting the first offer, ask: "Based on my history, what is the lowest rate you can offer?"
3. Credit portability with data in hand
Credit portability already existed, but Open Finance has made it more efficient. Now, you can authorize the new bank to access data on your current debt and receive a payoff proposal with lower interest. The process is digital and can be completed within a few days.
4. Consolidate debts based on complete data
If you have multiple debts, Open Finance allows an institution to see all of them and offer a consolidation loan with a single rate. This can reduce the total interest paid, as well as simplify payment into a single installment.
5. Access personalized credit lines
Banks and fintechs are creating specific credit lines for customers with a good Open Finance history. For example, Nubank launched a line in 2026 called "History-Backed Credit," offering rates from 1.5% per month for customers with a high score (Nubank Transparency Report, 2026).
Comparison: interest with and without Open Finance
| Type of operation | Average rate without Open Finance (2025) | Average rate with Open Finance (2026) | Interest reduction |
|---|---|---|---|
| Payroll-deducted personal loan | 1.9% p.m. | 1.4% p.m. | 26% |
| Non-payroll personal loan | 4.2% p.m. | 3.1% p.m. | 26% |
| Credit portability | 3.8% p.m. | 2.9% p.m. | 24% |
| Debt consolidation | 4.5% p.m. | 3.4% p.m. | 24% |
Source: Banking Economy Report, Central Bank of Brazil, 2026. Data refers to operations carried out between January and June 2026.
Challenges and precautions when using Open Finance
Despite the advantages, caution is needed. Data security is a central concern. The Central Bank requires participating institutions to comply with LGPD standards, but you should verify that the platform you use is authorized by the BC. Be wary of offers that request data outside the regulated environment.
Another point is financial education. Having access to more offers does not mean choosing the best one if you do not understand the terms. Before signing up, read the contract, check the CET (Total Effective Cost), and compare not only the interest rate but also embedded fees and insurance.
Future outlook
The trend is for Open Finance to consolidate as the main channel for personal credit in Brazil. The Central Bank projects that, by 2028, 80% of personal credit operations in the country will be initiated through digital platforms that use shared data (Agenda BC#, 2026). This should increase competition among institutions and push rates down.
Furthermore, integration with artificial intelligence should enable even more personalized offers, based on consumption behavior and income projections. Consumers who learn to use these tools will get ahead.
Conclusion
Open Finance is not just a technological innovation—it is a practical tool for reducing interest on personal loans. Comparing offers, using your history as a negotiation argument, and consolidating debts are concrete ways to save. Central Bank data shows that those who use Open Finance pay, on average, 25% less interest. The next step is yours: authorize data sharing, compare, and negotiate. Your wallet will thank you.
"Open Finance places the consumer at the center of the credit market. For the first time, they have the data and the power of choice to negotiate fair conditions." — Otávio Damaso, Director of Regulation at the Central Bank of Brazil, in an interview with Valor Econômico newspaper, May 12, 2026.
