Usury rate

Usury rate is mainly a French concept. In Belgium, the law sets maximum annual percentage rates (APR) for consumer credit: instalment loans, instalment sales, leasing and credit lines. These ceilings follow reference indices reviewed in March and September, and change when the gap is large enough. Mortgage credit has no such maximum APR. It is protected in other ways: a variable rate may only change on set dates, at the earliest after one year, according to a reference index published by the FPS Economy, and within an increase limit set in the contract. A lender who exploits a borrower's weakness or needs can still be prosecuted for usury.