In Portugal, the bank interest rates for revolving loans and overdrafts plus convenience and extended credit card credit to households has remained relatively steady throughout the years considered. During January 2018, these amounted to almost 13 percent. In April 2022, they lowered to 10.7 percent. However, by October 2023, the indicator maintained its rising trend and culminated in more than 13.4 percent.
Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023
The source states the following: "Convenience credit is defined as the credit granted at an interest rate of 0 % in the period between the payment transactions effectuated with the card during one billing cycle and the date at which the debit balances from this specific billing cycle become due. Extended credit is defined as the credit granted after the due dates of the previous billing cycles have passed. (...) Revolving loans include the amounts obtained through a line of credit and not yet repaid (outstanding amounts). A line of credit is an agreement between a lender and borrower that allows a borrower to take advances, during a defined period and up to a certain limit, and repay the advances at his discretion before a defined date. (...) Overdrafts are debit balances on current accounts. Both revolving loans and overdrafts exclude loans provided through credit cards."
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ECB. (December 4, 2023). Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/
ECB. "Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023." Chart. December 4, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/
ECB. (2023). Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/
ECB. "Bank Interest Rates for Revolving Loans and Overdrafts, and Convenience and Extended Credit Card Credit to Households in Portugal from January 2018 to October 2023." Statista, Statista Inc., 4 Dec 2023, https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/
ECB, Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023 Statista, https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/ (last visited July 22, 2024)
Bank interest rates for revolving loans and overdrafts, and convenience and extended credit card credit to households in Portugal from January 2018 to October 2023 [Graph], ECB, December 4, 2023. [Online]. Available: https://www.statista.com/statistics/1428719/portugal-bank-interest-rates-for-loans-and-credits/
