11
Nov
2022
Legal news
Banking and financial law
Property and construction law
11/
Nov
2022
2022
Legal news
Banking and financial law — Property and construction law
Usury rate for property loans to individuals revised upwards again (November 2022)
Sovereign Order n° 9.532 of 7 November 2022 (published in the JDM n° 8616 of 11 November 2022) raises the usury rate from 2.13% to 2.49% for property loans to individuals.
The average rate charged by lenders is thus set at:
— For individuals :
- Overdrafts: 14.88% (unchanged)
- Personal loans: 3.32% (unchanged)
- Property loans: 2.49% (previously 2.13%)
— For businesses and individual entrepreneurs:
- Overdrafts: 8.36% (unchanged)
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