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What is the highest interest rate for personal loans allowed in California law?


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2007-12-27 00:51:29
2007-12-27 00:51:29

I am trying to find the answer to this question because I am getting charged over 90% interest by cash call, and I don't think this is at all legal!!!


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Depends on the state you live in, contact you state Attorney General office

For California the usury limit for personal loans is 10%.. and anything greater should only be verbal as not to get caught up, but if it is in writing then it would be against the law and considered loan sharking.

contact your State Attorney Generals office

American Express Personal Savings account is currently offering one of the highest interest rates on your money. They are offering a 1% interest on your money as of August 2011 with no fee.

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There are several ways to deal with personal debt loans. You can consolidate all of the loans or can use the ladder approach as several famous financial gurus suggest. Pay the highest interest rate first then move on down the ladder to the next highest interest rate.

Usury laws provide that interest rates charged on any loan may not exceed 25% As high as the lender wishes it to be.

5% above the Federal Reserve Discount Rate at the time the contract was made.

This depends in your state and sometimes in your county. Is SC, the max is 29% as of 12/05.

The absolute highest cd interest rates is about 10%

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The interest rate, no doubt, was the highest in the past ten years in the year 2008, when the housing market crashed. Before that, mortgage interest rates were highest in the mid 1980's.

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It is regulated by state law, so it depends on where your credit agreement is in effect. Where I am it's 33% annually.

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