Current wear rate in 2020


The publication of the usury rate defines every quarter the maximum rates authorized for loans taken out by individuals.

Calculation of wear rate

Usury rates are calculated on the basis of the average rates charged by banks over the previous quarter, increased by 33%. For example if the average rate for consumer loans under US $ 1524 was 18% in the first quarter, in the second quarter the usury rate would be 24% (18 + 18 x 1/3 = 24).

The rate of wear is a maximum rate

It is a protection for the consumer which thus avoids slippage of rates of certain establishments which could tend to "let slip the rates" on certain types of customers at risk.

Since 2013, the Lagarde laws merged the usury rates for all consumer loans (personal loan and revolving credit).

Evolution of wear rates

Wear rate in 2020
Mortgage loan
1st trimester 2nd Quarter 3rd Quarter 4th Quarter
fixed rate loan
(duration <10 years)
2.60% 2.41% 2.39% 2.41%
fixed rate loan
(duration between 10 and 20 years)
2.51% 2.40% 2.40% 2.52%
fixed rate loan
(duration> 20 years)
2.61% 2.51% 2.57% 2.68%
variable rate loan 2.36% 2.27% 2.28% 2.41%
relay loan 2.92% 2.99% 3.01% 3.01%
Ready for consumption
1st trimester 2nd Quarter 3rd Quarter 4th Quarter
Personal loan
≤ $ 3000
21.07% 21.31% 21.16% 20.83%
revolving loan
> $ 3000 and
≤ $ 6,000
11.75% 11.20% 10.52% 10.16%
Personal loan
> $ 3000 and
≤ $ 6,000
relay loan 5.71% 5.68% 5.55% 5.19%
Personal loan
> $ 6,000

YOUNITED CREDIT

See as well :

Compare credit rates

The rate of wear in: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 .


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