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Texas Finance Code - FIN § 346.101. Maximum Interest Rate

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A revolving credit account may provide for interest on an account at an annual rate that does not exceed the greater of:

(1) 18 percent a year; or

(2) the applicable alternative rate ceiling under Chapter 303.

(b) A revolving credit account may provide for interest computed under a method other than the average daily balance method if the amount of interest computed under that method does not exceed the amount of interest computed under the average daily balance method.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 346.101. Maximum Interest Rate - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-346-101/

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