Regulatory Alerts2024-06-06
Added · Updated
Instruction No. 9/2024 on Maximum Interest Rates for Consumer Credit Contracts in the Third 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 third quarter of 2024. Specific caps include 9.2% for education, health, renewable energy, and equipment leasing; 15.8% for other personal credits; 6.7% for new car leases; and 19.2% for credit cards and overdraft facilities. These limits apply to contracts signed in the following quarter and take effect on July 1, 2024.