Adverse selection, loan access and default behavior in the Chilean consumer debt market

Financial Innovation

Table 2 Distribution of the interest rate and maturity of each loan type (before and after the 2013 interest rate ceiling law)

Loan type	Interest rate (%)								Maturity (months)
	Percentiles, Number of observations (N)								Median (P50), Mean, Observations (N)
	2007–2011				2014–2017				2007–2011			2014–2017
	P25	P50	P75	N	P25	P50	P75	N	Median	Mean	N	Median	Mean	N
Bank	9	20	40	511	13	18	26	355	36	47	1795	36	39	1426
Retail Store	9	24	42	95	16	23	29	79	36	44	463	12	22	541
Union Debt	13	19	27	200	19	24	27	138	36	45	984	24	33	909
Auto	18	30	39	66	13	21	29	31	48	48	305	36	36	337
Education, Other	9	10	27	77	13	26	27	205	24	37	292	84	104	415