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They are called loan sharks.

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Q: Who charges the highest on interest rate loans?
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Related questions

The interest rate the fed charges for overnight loans is known as the?

discount rate (apex)


Of consumer credit which has highest interest rate?

The highest interest rates charged for consumer credit are the Pay Day loans, which if rolled over can end up at a 400% interest rate. Pay Day loans are outlawed in some states such as North Carolina. The next highest are the Rent to Own store plans which often end up doubling the cost of an item through the accumulated interest charges.


What type of loans have the lowest interest rates?

Typically, home loans have the lowest interest rate. Credit cards and Pay Day loans usually have the highest interest rates.


Which payment method charges the highest interest rate?

credit cards


How does one deal with personal debt loans?

There are several ways to deal with personal debt loans. You can consolidate all of the loans or can use the ladder approach as several famous financial gurus suggest. Pay the highest interest rate first then move on down the ladder to the next highest interest rate.


What type of loan have the highest interest rate?

Unsecured loans to high-risk creditors for dubious purposes.


What type of loan will have the highest interest rate?

Unsecured loans to high-risk creditors for dubious purposes.


What is the highest interest rate allowed by NY law?

In New York, the legal maximum interest rate is 16% per year for most types of loans. However, for some types of loans, such as payday loans, the maximum interest rate is lower. It's always important to check the specific regulations for the type of loan you are considering in New York.


Personal loans should have a lower interest rate than student loans.?

Personal loans should have a lower interest rate than student loans.


What is the maximum interest rate for a student loan consolidation loan?

The maximum interest rate for consolidating FEDERAL student loans is 8.25%. If your student loans are not federal loans, though, there is no maximum interest rate.


What agency sets the interest rate on loans?

The agency responsible for setting interest rates on loans is the Federal Reserve Board. The interest rate on loans is tied into the rate of inflation and the GNP or Gross National Product.


What is the deffination of interest rate?

INTEREST RATE IS THE RATE AT WHICH LOANS AND ADVANCES ARE GIVEN BY THE COMMERCIAL BANKS TO GENERAL PUBLIC. INTEREST RATE IS THE RATE AT WHICH LOANS AND ADVANCES ARE GIVEN BY THE COMMERCIAL BANKS TO GENERAL PUBLIC.