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It is a rate of interest that is deemed abusive or criminal in that it is wholly unreasonable / excessive. The court can nullify a contract on this basis.
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What does usurious mean?
1. practicing usury; charging illegal or exorbitant rates ofinterest for the use of money: a usurious moneylender.2. constituting or characterized by usury: usurious rates of interest; a usurious loan.
What is the tax rate on earned interest?
considered ordinary income
What was the mortgage interest rate in 1968?
Mortgage interest rates were around 1.2% in 1968. This was considered to be relatively high back then. However, the interest rate these days is around 4%.
What interest rate would be considered as loan sharking?
"An interest rate of more than 25 percent should be considered as loan sharking. That is the practice of loaning out money, just to charge a lot to get it back."
What is considered a good interest rate on a mortgage?
A good interest rate on a mortgage in 2014 is 4.2 percent. This varies greatly depending on the type of mortgage and the credit score of the applicant.
How can you use Usurious in a sentence?
"Usurious" means lending money at a much higher interest rate than anyone else, or charging more than anyone else. These rates are usurious - I am going to Citibank instead!
What does usurious mean?
1. practicing usury; charging illegal or exorbitant rates ofinterest for the use of money: a usurious moneylender.2. constituting or characterized by usury: usurious rates of interest; a usurious loan.
What is the definition of the word usurious?
Usurious describes something that is done with usury. Usurious usually refers to monetary value; usury is the act of extortion. For example, the prices at Whole Foods can be considered by some to be usurious.
What is the tax rate on earned interest?
considered ordinary income
What is the simple definition of base rate?
Base rate is the rate of interest which is considered as a basis by commercial bank for their lending rate..
What was the mortgage interest rate in 1968?
Mortgage interest rates were around 1.2% in 1968. This was considered to be relatively high back then. However, the interest rate these days is around 4%.
Overcharge of interest what is call what is the legal name for it?
Charging an excessive amount of interest is called usury, and it is banned by federal law, and by laws adopted by most States. Excessive interest rates are called "usurious."
What interest rate would be considered as loan sharking?
"An interest rate of more than 25 percent should be considered as loan sharking. That is the practice of loaning out money, just to charge a lot to get it back."
Why is a bond with a higher interest rate often considered a higher risk investment?
Bonds with a higher interest rate are often considered a higher risk investment because when interest rates rise, bond prices fall; conversely, when rates decline, bond prices rise. The longer the time to a bond's maturity, the greater its interest rate risk.
If you have bad credit does having a cosigner with good credit on the loan lower your interest rate?
No. You are considered the primary debtor and therefore the interest rate would depend on your credit history.
What is considered a good interest rate on a mortgage?
A good interest rate on a mortgage in 2014 is 4.2 percent. This varies greatly depending on the type of mortgage and the credit score of the applicant.
Does your credit score affect the interest rate when you apply for home financing?
Your credit score can possibly affect your interest rate when you apply for home financing. If you have a low credit score, you are considered a higher risk to the bank, and therefore, they may raise your interest rate.
