Legal Interest Rate

The general usury limit is 16.

Legal interest rate. The legal interest rate and the general usury limit is 8. Last week the monetary board the country s policy making body on money banking and credit changed the legal rate of interest for loan and credit agreements. Choose a link from the list below for state specific interest rate laws including maximum rates exceptions to interest rate limits and more. Rate tarts typically make balance transfers when a special.

As a result of senate bill 45 the nevada state legislature has revised nrs 17 130 nrs 37 175 nrs 99 040 nrs 108 237 nrs 147 220 nrs 233 170 and nrs 645 847 to read. State interest rate laws legal interest rates can depend on the lender borrower loan amount and the subject of the transaction. Loans secured by motor vehicles mobile homes travel trailers aircraft watercraft and farm equipment of the current and previous model year the maximum legal interest rate is 18. When no rate of interest is provided by contract or otherwise by law or specified.

Interest rates interest on judgments costs and under order 30 rule 6 2 of the rules of court various provisions in the rules of court provide for the application of a default rate of interest at 6 or such other rate as the chief justice may from time to time direct. 12 is the limit. The legal rate of interest is the highest rate of interest that can be legally charged on any type of debt. The legal rate of interest is 9.

The prescribed rate of interest applies to all debts unless a different rate is set by law by trade custom or by agreement between the parties. Certain types of debt may carry a higher legal rate than another. Credit card users who transfer balances from one card to another in order to obtain the lowest possible interest rate.