RegAlert2024-12-05
Added · Updated
Instruction No. 16/2024: Disclosure of Maximum Rates Applicable to Consumer Credit Contracts in the First Quarter of 2025
The Bank of Portugal establishes maximum annual effective global rates (TAEG) and maximum nominal annual rates (TAN) for various consumer credit contracts, including personal, educational, automotive, and credit card facilities, applicable to agreements concluded in the first quarter of 2025. These rates serve as absolute ceilings for financing charges and must not be referred to as legal rates, while preserving the freedom to negotiate other contract conditions. The instruction enters into force on January 1, 2025, and aligns with credit categories defined in Instruction No. 14/2013, with credit overdrafts defined under Decree-Law No. 133/2009.
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Instruction No. 16/2024
BO No. 11/2024 3rd Supplement • 2024/12/05
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Topics
Supervision :: Behavioral Supervision
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Disclosure of maximum rates applicable to consumer credit contracts in the 1st quarter of 2025
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Lineage: In force
Source: Banco de Portugal — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works