What is the definition of a Maximum Permissible Interest Rate?
This is an interest rate set by the government. It is frequently referred to as MPIR. If you pay a DAP the amount of interest you get charged is the MPIR. If a RAD has been paid and are then waiting for it to be refunded back to you, but are kept waiting past the government set 14 days, then the aged care home (nursing home) will be charged interest on that RAD at the MPIR.