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The maximum interest rate on overdue balances varies by jurisdiction and the type of debt involved. In many places, usury laws cap the interest rates that can be charged on overdue balances, often ranging from 6% to 25%. It's important to consult local regulations or specific agreements to determine the applicable maximum rate for a particular situation. Always check with a financial advisor or legal expert for precise information based on your location.
What else can I help you with?
What is the maximum interest rate for a student loan consolidation loan?
The maximum interest rate for consolidating FEDERAL student loans is 8.25%. If your student loans are not federal loans, though, there is no maximum interest rate.
How much interest does Robinhood pay on cash balances in user accounts?
Robinhood pays interest on cash balances in user accounts at an annual rate of 0.30.
What is the maximum interest rate on a personal unsecured loan in Missouri?
For basic personal unsecured loans, the maximum interest rate is 9% per year. For payday loans, the maximum effective interest rate may not be more than 75% of the principal (additively including renewals for which 6 are allowed by the state)
What is the maximum interest rate for auto loans in Virginia?
26.9
What is tennessee's maximum auto loan interest rate?
28.99
What is the maximum interest rate for a student loan consolidation loan?
The maximum interest rate for consolidating FEDERAL student loans is 8.25%. If your student loans are not federal loans, though, there is no maximum interest rate.
How much interest does Robinhood pay on cash balances in user accounts?
Robinhood pays interest on cash balances in user accounts at an annual rate of 0.30.
What is the best interest rate offered by First Direct?
The best interest rate offered by First Direct is for Cash ISA. Cash ISA pays interest rate of 0.5 percent for balances from 1 to 5000 pounds and 3 percent for balances larger than 40000 pounds.
What is the maximum interest rate for a car loan in Pennsylvania?
what is the maximum rate for used car loan in Pennsylvania
What is the legal interest rate a small business in CA can charge for an overdue account?
In California, the legal interest rate a small business can charge for an overdue account is generally 10% per year, as specified by California Civil Code Section 3289. However, if there is a written agreement specifying a different rate, that agreed-upon rate can be charged instead. It's important for businesses to clearly outline any interest charges in their contracts to avoid disputes.
What is the legal maximum interest rate that a small business can charge for a past due account?
In Wisconsin, what is the maximum allowable monthly interest rate I can charge customers who are delinquent in their bills?
What is the maximum interest rate on a personal unsecured loan in Missouri?
For basic personal unsecured loans, the maximum interest rate is 9% per year. For payday loans, the maximum effective interest rate may not be more than 75% of the principal (additively including renewals for which 6 are allowed by the state)
What is the maximum interest rate for auto loans in Virginia?
26.9
What is Colorado's maximum legal permissible interest rate?
20
What is tennessee's maximum auto loan interest rate?
28.99
If you are borrowing which is best simple or compound interest?
If the rate of interest is the same, simple interest benefits the borrower. Compound interest charges (or pays) interest on the accrued interest as well as the principal amount. This is why the APR (annual percentage rate) may differ from the base interest rate on a loan, or on revolving credit balances.
What is the federally regulated maximum interest rate that a finance company can charge on a loan in the year 2011?
continuation of question that would be the maximum interest rate that a finance co can charge in the year 2011.
