LAW YEAR APPLIED APPLICABLE LEGAL INTEREST RATES TRANSACTIONS APPLICABLE TO NOTES

The Monetary Board is hereby authorized to:

1. prescribe the maximum rate or rates of interest for the loan or
1. Forbearance of any money, goods or credits
Presidential Decree renewal thereof or the forbearance of any money, goods or
1975 2. Loans of low priority
858 credits, and
3. Different types of borrowings
2. to change such rate of rates whenever warranted by prevailing
economic and social conditions.
1. Forbearance of any money, goods or credits
Presidential Decree (same as with PD 858) provided, that changes in such rate or rates
1980 2. Loans of low priority
1684 may be effected gradually on scheduled dates announced in advance.
3. Different types of borrowings
The rate of interest for the loanand the rate allowed in
Monetary Board
1982 judgements, in the absence of an express contract as to such rate of
Circular 905
interest, shall continue to be 12% per annum
Central Bank Circular
2004
416
The rate of interest for the loanand the rate allowed in
Monetary Board
2013 judgements, in the absence of an express contract as to such rate of
Circular 799
interest, shall be 6% per annum