The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
maximum interest rates for consumer loans to decrease in 2025
Starting in early 2025, the maximum interest rates for consumer loans will decrease, with cash loans capped at 11% (down from 12%) and overdraft credits and credit cards at 13% (down from 14%). This adjustment is a response to the declining interest rate environment, as determined by the three-month compounded Saron rate. The maximum rates are reviewed annually to protect consumers from excessive charges, ensuring that any loan agreements with excessive rates are deemed invalid under the Consumer Credit Act.
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