Texas, the legal rate of interest is 6%. Interest does not begin until 30 days after an account was due. The judgment rate of interest is 18% or the rate in the contract, whichever is less. There are a number of specific ceilings for different types of loans. the federal government passed a special law which allowed national banks (the ones that have the word "national" or the term "N.A." in their name, and savings banks that are federally chartered) to ignore state usury limits and pegged the rate of interest at a certain number of points above the federal reserve discount rate. In addition, specially chartered organizations like small loan companies and installment plan sellers (like car financing companies) have their own rules.
The usury rate in Arizona is 10.0 percent as long as that rate was agreed to in writing. This does not apply to corporations since they do not have a special rate.
In Florida, the general usury limit is 18%. On loans above $ 500,000 the maximum rate is 25%
Nevada has no usury limit (except with respect to pawn brokers)
21%
Usury law put a ceiling on interest rate
The current usury rate for the state of Louisiana is 12 percent, in September of 2014. The law in Louisiana states that the lending rate for personal loans cannot be more than 1 percentage point over the prime lending rate. It also states that the usury rate cannot fall below 7 percent.
The usury rate for Wyoming is defined as follows: 36% on the first $1,000 21% on the amount between $1,000 and $49,999 No limit on interest rate for consumer loans exceeding $50,000.
"In Canada, charging an effective annual interest rate in excess of 60% is considered usury, which is sometimes called loansharking."
Usury.
Money lenders found guilty of usury have wrongfully engaged in the practice of charging a high or unlawful rate of interest on a loan.
Usury; loan-sharking.
According to the Texas Attorney Generals website 18% interest is the maximum however in times of inflation it can go as high as 24%. Anything above that is called "usury". Usury is the practice of charging excessive, unreasonably high, and often illegal interest rates on loans. Double check your contracts and don't sign anything until it is within the legal limits. Good luck!