The recent data concerning the annual percentage rate of charge (APR) and the annual nominal interest rate (ANR) has been made available today on the Customer Bank portal. It pertains to the period from July to September and indicates a decrease between 0.1 and 0.5 percentage points.
In personal credit, including loans for education, health, energy transition, and leasing of equipment, as well as other personal credits such as home improvements, consolidation, and other purposes, there was a reduction of 0.1 percentage points compared to the second quarter, to 9.1% and 15.9%, respectively.
For automotive credit from July, the maximum APR for new vehicle leasing or long-term rental drops to 5.8% and for used vehicles to 7.6%, down from 5.9% and 8.1% in the previous quarter.
The maximum APR for purchasing new vehicles falls from 11.0% to 10.7%, and for used vehicles, it decreases from 14.3% to 14.2%.
Regarding credit card contracts, credit lines, bank current accounts, and overdraft facilities, there is a decrease of 0.2 percentage points from the second quarter, down to 19.1%.
Concerning the maximum ANR on credit overruns, the central bank announced a reduction from 19.3% to 19.1%.
The legislation stipulates that “maximum rates correspond to the average annual percentage rate of charge (APR) charged by credit institutions in the previous quarter, for various types of contracts, plus a quarter,” and “none can exceed by 50% the average APR of all consumer credit contracts made in the previous quarter,” emphasized the central bank.
The regime of maximum rates also stipulates that the maximum APR for overdraft contracts requiring repayment within a month and the maximum ANR on credit overruns be equivalent to the maximum APR for credit contracts in the form of overdrafts with a repayment period exceeding one month.
