Statutory Instrument 164 of 2009
Prescribed Rate of Interest Notice 2009
THE Minister of Justice and Legal Affairs, in terms of section 7 of the Prescribed Rate of Interest Act [Chapter 8:10], and with the approval of the Minister for Finance, hereby makes the following notice:—
- This notice may be cited as the Prescribed Rate of Interest Notice, 2009.
- The prescribed rate of interest for the purpose of this Act will be at five per centum per annum.
- The Prescribed Rate of Interest Notice, 2000, published in Statutory Instrument 217 of 2000, is repealed.
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Statutory Instrument 164 of 2009.pdf | Download |
if i may have a copy of Prescribed rate of interest Act or statutory instrument for my use.
i applied for a loan at POSB in july 2023 on the form the interest rate was 83% per annum and i was told it has risen to 165%per annum. i just want to asses the shift’s legality and how i may be protected by law if any.