BSP MAINTAINS 24% INTEREST RATE CAP ON CREDIT CARD TRANSACTIONS

BSP thumbnail The Bangko Sentral ng Pilipinas' policy-setting Monetary Board has maintained the 24% annual interest rate cap on all credit card transactions, the central bank said Friday. In a statement, the BSP said “the maximum interest rate or finance charge on unpaid outstanding credit card balance of a cardholder remains at 2% per month or 24% per year.” requ...

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