RegAlert
2021-03-10

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Instruction No. 3/2021

The Bank of Portugal establishes maximum interest rate limits for consumer credit contracts concluded in the second quarter of 2021, effective April 1, 2021. These caps apply to various credit types, including personal credit, auto loans, and credit cards, with specific maximum Effective Annual Percentage Rates (APR) and Nominal Annual Rates (NAR) defined in the accompanying tables. Financial institutions must adhere to these ceilings when drafting new contracts, although they retain freedom to set other financing conditions below these limits.

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Instruction No. 3/2021
BO No. 2/2021 3rd Supplement • 2021/03/10
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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 2nd quarter of 2021

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Lineage: In force

Consumer Credit Agreements Decr…2009Instruction No. 3/20212021-03-10 · this document
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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

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