The Central Bank of Curaçao and Sint Maarten (CBCS) has added an Annual Percentage Rate (APR) Calculator to its website to help consumers estimate the full cost of borrowing and compare loan offers on a like-for-like basis. The tool calculates APR based on the loan amount, repayment amount, repayment frequency and any up-front charges. CBCS highlights that APR captures the total annualised borrowing cost, including interest, tax and administration fees, and notes that APR rules applying to CBCS-licensed credit providers have capped the maximum APR at 27 percent since May 2015. The Bank encourages consumers to report any loan offers above this cap and advises borrowing only from supervised credit institutions, referring users to its online list of supervised lenders.
Central Bank of Sint Maarten & Curacao 2025-04-09
Central Bank of Curaçao and Sint Maarten launches online APR calculator and reiterates 27 percent maximum APR cap for licensed credit providers
The Central Bank of Curaçao and Sint Maarten has launched an APR Calculator on its website to help consumers estimate borrowing costs and compare loans. It calculates APR by considering loan amount, repayment details, and up-front charges, with a maximum APR cap of 27% for CBCS-licensed credit providers. Consumers are urged to report offers exceeding this cap and borrow only from supervised institutions.