Category Archives: Interest Rates

The Interest Rate and Penalty Charge of 3% Per Month or 36% Per Annum Should Be Reduced to 2% Per Month or 24% Per Annum. Hence, courts may reduce them as reason and equity demand

Posted on July 25, 2014 by Erineus

The Interest Rate and Penalty Charge of 3% Per Month or 36% Per Annum Should Be Reduced to 2% Per Month or 24% Per Annum. In its Complaint, respondent BPI originally imposed the interest and penalty charges at the rate … Continue reading →

Posted in Civil Law, Credit Cards, Interest Rates, Penalty Charge | Tagged , , | Leave a comment

Guidelines for the application of the proper interest rates

Posted on December 17, 2011 by Erineus

The Court agrees with the Court of Appeals in reducing the interest rate from 12% to 6% as the obligation to pay does not arise from a loan or forbearance of money. In Eastern Shipping Lines, Inc. v. Court of … Continue reading →

Posted in Interest Rates, Torts and Damages | Tagged | Leave a comment