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> I’ve just looked at the internet archive and it shows rates of up to 1825% APR Sheesh, APR on loans in Switzerland - Not exactly known as a socialist hell ho
by CaptainZapp 5y ago
> I’ve just looked at the internet archive and it shows rates of up to 1825% APR
Sheesh, APR on loans in Switzerland - Not exactly known as a socialist hell hole - are capped by law at 15%.
Anything above this is usury and a criminal offence.
- Closi 5y agoThe UK is similar, but splits it across two rules (which allow for higher interest loans but cap the potential impact): * Interest must not exceed 0.8% per day. * The total cost of any loan must not exceed 100% of the original loan amount. (NB: This is only for consumer loans, commercial loans do not have a cap.)