Credit card limit fell from 2.49% to 2.46% per month, according to the National Social Security Council
O CNPS (National Social Security Council) decided this Monday (May 27, 2024) to reduce from 1.68% to 1.66% the ceiling on fees to be charged on the INSS (National Social Security Institute) consignment. The rate for taking out credit via credit card fell from 2.49% to 2.46% per month.
The 1.68% cap has been in effect since April 2024, when the board approved the cap. This Monday’s decision (May 27) comes 19 days after the Copom (Monetary Policy Committee) of the BC (Central Bank) decided to cut the basic rate, the Selic, by 0.25 percentage points.
The new maximum interest rates come into effect 5 business days after the publication of the CNPS resolution.
After this period, banks and financial institutions are prohibited from offering loans and payroll cards with rates higher than the new ceilings.
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