legal interest

Definition of "legal interest"
  1. It refers to the interest rate allowed by law, often the maximum limit
How to use "legal interest" in a sentence
  1. To avoid usury violations, banks must ensure their loans do not exceed the legal interest.
  2. When investing, it is essential to be aware of the legal interest rates to avoid legal complications.
  3. The finance company was charged with penalties for exceeding the legal interest on their loans.
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