RegAlert2021-06-02
Added · Updated
Instruction No. 8/2021
The Bank of Portugal establishes maximum interest rate ceilings for consumer credit contracts concluded in the third quarter of 2021, effective July 1, 2021. The instruction sets specific maximum Effective Annual Percentage Rates (APR) for categories including personal credit, education, health, renewable energy, equipment leasing, and credit cards, as well as a maximum nominal rate for credit overdrafts. Financial institutions must ensure that the charges applied to these contracts do not exceed the published limits, although the freedom to negotiate other financing conditions remains intact.
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Instruction No. 8/2021
BO No. 5/2021 2nd Supplement • 2021/06/02
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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 3rd quarter of 2021
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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
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