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The 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
by Closi 5y ago
The 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.)