Wear rate in 2015
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
| Mortgage loan | ||||
| 1st trimester | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| fixed rate loan | 4.57% | 4.49% | 4.13% | 3.92% |
| variable rate loan | 4.15% | 4.09% | 3.76% | 3.63% |
| relay loan | 4.92% | 4.73% | 4.53% | 4.19% |
| Ready for consumption | ||||
| 1st trimester | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| Personal loan ≤ $ 3000 | 20.25% | 20.23% | 20.04% | 19.97% |
| revolving loan > $ 3000 and ≤ $ 6,000 | 14.37% | 14.15% | 13.83% | 13.45% |
| Personal loan > $ 3000 and ≤ $ 6,000 | ||||
| relay loan | 9.21% | 9.04% | 8.48% | 7.84% |
| Personal loan > $ 6,000 | ||||
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