Regulatory Alerts2022-06-09
Added · Updated
Instruction (Archive) No. 9/2022
The Banco de Portugal establishes maximum interest rate limits for consumer credit contracts concluded in the third quarter of 2022, effective July 1, 2022. These caps are calculated based on the previous quarter's average Effective Annual Percentage Rates (APR) plus a quarter, ensuring they do not exceed the total market average APR plus 50%. Specific maximum APRs are set for personal credit, education and health financing, vehicle leasing, and credit cards, while a separate maximum nominal rate applies to credit overdrafts.