If you are looking for a personal credit for a specific purpose, such as a car, or without a specific purpose for a project, the credit intermediaries at Poupança no Minuto can help you find the best market rates! Through a cost-free service, they gather and present several proposals, advising you on the one that best suits your needs and preferences. But first, read the numbers involved.

Maximum fees on consumer credits increase in the 2nd quarter.

The maximum fees on credit cards, credit lines, bank current accounts, and overdraft facilities, as well as credit overdrafts, increased in the second quarter of the year.

The Bank of Portugal (BdP) announced: The Annual Effective Global Costs Rate (APR) and the Nominal Annual Interest Rate (TAN) were fixed at 19.0% between April and June, representing an increase of 0.4 percentage points compared to the previous quarter.

Regarding new car credit contracts, the maximum APR increased from 6.1% to 6.3% in financial leasing or PCP, but decreased from 11.1% to 11% in credit with property reservation. In used vehicles, the maximum APR increased from 6.5% to 6.8% in financial leasing or PCP, and increased by 0.2 points to 14.2% in operations with property reservation and others.

Personal loans, for purposes such as education, health, renewable energies, and financial leasing of equipment, the maximum rates increased from 7.7% to 8.5%, and in personal loans without a specific purpose, they rose from 15.2% to 15.6%.

According to information provided by BdP and quoted by Notícias ao Minuto, the "maximum rates correspond to the average APRs practiced by credit institutions in the previous quarter, in different types of contracts, plus a quarter", and "none can exceed by 50% the average APR of all consumer credit contracts concluded in the previous quarter".

The maximum rate regime also provides that the maximum APR of overdraft facility contracts with a one-month reimbursement obligation and the maximum APR of credit overdrafts shall be equal to the maximum APR stipulated in credit contracts in the form of overdraft facility with a repayment term exceeding one month.

To get the best market rates on a personal loan, talk to the credit intermediaries at Poupança no Minuto. Contact us and find out how we can support you better!

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