RegAlert2024-03-06
Added · Updated
Instruction No. 3/2024 on Maximum Interest Rates for Consumer Credit Contracts in the Second Quarter of 2024
The Bank of Portugal establishes maximum effective annual percentage rates (APR) and maximum nominal annual rates (NAR) applicable to consumer credit contracts concluded in the second quarter of 2024. Specific caps include 8.5% for education, health, renewable energy, and equipment leasing; 15.6% for other personal credits; 6.3% for new car leasing; and 19.0% for credit cards and overdrafts. These limits apply to contracts signed from April 1, 2024, onwards, without restricting the freedom to negotiate other financing conditions.
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Instruction No. 3/2024
BO No. 2/2024 Supplement • 2024/03/06
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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 2024
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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