Interest Rate Limit
/ˈɪntərɪst reɪt ˈlɪmɪt/
Definitions
- (n.) The maximum legal rate of interest that may be charged on a loan or credit extension to prevent usury.
The court enforced the statutory interest rate limit to protect consumers from excessive charges.
Forms
- interest rate limits
Related terms
See also
Commentary
Interest rate limits vary by jurisdiction and may be statutory or contractual; precise drafting is crucial to ensure compliance and enforceability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.