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Maximum Interest Rate in the Philippines by Maria Linda Gavino is a document available to read on EtoBox.

What is Maximum Interest Rate in the Philippines about?

The document discusses the Usury Law of the Philippines and interest rates. It provides that the Usury Law established a maximum legal interest rate of 12% per annum but was rendered legally ineffective in 1982. Now, interest rates are not subject to a ceiling and can be set through agreement of the lender and borrower. However, the courts may reduce interest rates deemed unconscionable on a case-by-case basis.

Author

Maria Linda Gavino

Language

EN