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BSP adjusts cap on credit card interest rate to 3% per month

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The Bangko Sentral ng Pilipinas (BSP) on Friday announced the adjustment in the interest rate ceiling on credit card transactions.

The Bangko Sentral ng Pilipinas on Friday announced the adjustment in the interest rate ceiling on credit card transactions.

It said that the maximum processing fee on the availment of credit card cash advances remains at P200 per transaction. In fixing the caps, the BSP said it considered the prevailing low interest rate environment during the pandemic.

 

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