2023-06-01 04:32:32
The maximum rates for consumer credit will increase from this Thursday, June 1, the FPS Economy announced on Wednesday.
The legal maximum annual percentage rates (APR) for credit openings, among which are the so-called “credit cards” with spread repayments and the possibility of going negative on a current account, increase by 1, 5 percentage points, specifies the administration. This means that these lines of credit will grow if they come with a variable lending rate and the APR matches the maximum, which is often the case.
The maximum APRs for loans and installment sales and for leasing up to 1250 euros increase by 2.5 percentage points and those above 1250 euros by 2 percentage points.
The new maximums will only apply to new credit agreements and to existing credit agreements with a variable debit rate. They will therefore not apply to existing contracts with a fixed borrowing rate.
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