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SPS. RAMON PATRON AND LUZVIMINDA PATRON v. UNION BANK OF PHILIPPINES

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GR No. 164195
2009-12-04
APO FRUITS CORPORATION v. CA
BERSAMIN, J.
In Patron v. Union Bank of the Philippines,[65] the Court found the 2% monthly or 24% annual penalty charge unconscionable under the circumstances attendant to the case; i.e., the spouses Patron had made partial payments on their loan and had requested the restructuring of the same. Consequently, the Court fixed the interest rate in the case at 12% per annum.