{
  "table": "interest-rate-calculator-rules",
  "schema": 1,
  "version": "2026-11-11.2",
  "title": "Interest rate rules: how the law annualises a loan's rate in France and the United Kingdom, and the French usury ceilings",
  "doc": "Rule table read by the interest-rate-calculator handler (ctx.data['interest-rate-calculator-rules']). Rates are percentage points (8.56 means 8,56 %); amounts are in the country's currency. annual_rate: which annual rate the law states for a loan and how it is built from the rate per period. 'actuarial' means (1 + i)^m − 1 (compound, the equivalence method), 'proportional' means i × m, where i is the rate per period and m the number of periods in a year; 'decimals' is the least precision the text requires, a half rounding up. France: by loan kind (a loan to a person for non-business needs: TAEG, actuarial, code de la consommation art. R314-3 and its annex; a loan for business needs: TEG, proportional, art. R314-2). United Kingdom: the APR, an annual equivalent rate. usury (France only): the ceilings of the avis of 25 September 2026, in force from 1 October 2026 for the fourth quarter, for loans granted from 1 October to 31 December 2026; a category is picked by loan kind (loan_kinds), then by amount (amount_above < amount <= amount_up_to) or by term in months (months_from <= months < months_below); null means no bound. works_limit: a loan for repair, improvement or upkeep work on a home ('travaux') of more than this amount is a property credit (code de la consommation L313-1, 1°) and is held to the property-loan ceilings; at or below it, it is held to the consumer-credit ceilings by amount. Other consumer loans stay in the consumer-credit categories whatever their amount. The Banque de France states that the limit moves from 75 000 € to 100 000 € on 20 November 2026 (notes 1 and 2 of its 2026-Q4 table). no_ceiling: loan kinds the usury rule does not reach (code de la consommation art. L314-9; code monétaire et financier art. L313-5-1 keeps it for overdrafts only). The United Kingdom has no general ceiling on the rate of a loan, so there is nothing to compare. Table-level valid_from / valid_until bound the period during which this version may be relied on: the ceilings change every quarter, so after valid_until the table must be reviewed again (the build refuses an expired table).",
  "reviewed_on": "2026-11-11",
  "reviewed_by": "apps-calculators agent (automated research against official sources, 2026-11-11), checked again by an independent verifier on 2026-11-11 (works-loan limit, upfront fees, UK APR source scope); owner review pending",
  "valid_from": "2026-10-01",
  "valid_until": "2026-12-31",
  "locale_country": {
    "fr-FR": "FR",
    "en-GB": "GB"
  },
  "sources": [
    {
      "id": "jorf-avis-usure-2026-09-25",
      "label": "Légifrance (JORF n° 0225 du 26 septembre 2026, texte n° 79) : avis du 25 septembre 2026 relatif à l’application des articles L. 314-6 du code de la consommation et L. 313-5-1 du code monétaire et financier concernant l’usure",
      "url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
      "date": "2026-09-26",
      "retrieved": "2026-11-11"
    },
    {
      "id": "bdf-usure-2026-q4",
      "label": "Banque de France : taux d’usure, 4e trimestre 2026 (mis en ligne le 28 septembre 2026, mis à jour le 9 novembre 2026) ; notes (1) et (2) : prêts pour travaux de plus de 75 000 € classés en crédits immobiliers, seuil porté à plus de 100 000 € à compter du 20 novembre 2026",
      "url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
      "date": "2026-11-09",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-r314-3",
      "label": "Légifrance : code de la consommation, article R314-3 (TAEG calculé actuariellement, selon la méthode d’équivalence de l’annexe)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807608",
      "date": "2016-10-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-r314-3-annexe",
      "label": "Légifrance : code de la consommation, annexe à l’article R314-3 (équation du TAEG, mois normalisé, résultat exprimé avec au moins une décimale)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000044536833",
      "date": "2021-12-20",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-r314-2",
      "label": "Légifrance : code de la consommation, article R314-2 (TEG proportionnel au taux de période pour les crédits professionnels)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807606",
      "date": "2016-10-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-l314-6",
      "label": "Légifrance : code de la consommation, article L314-6 (définition du prêt usuraire)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032303335",
      "date": "2016-07-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-l314-9",
      "label": "Légifrance : code de la consommation, article L314-9 (les articles L314-6 à L314-8 ne s’appliquent pas aux prêts pour des besoins professionnels)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032225818",
      "date": "2016-07-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "cmf-l313-5-1",
      "label": "Légifrance : code monétaire et financier, articles L313-5 à L313-5-2 (usure des découverts des professionnels ; les autres prêts professionnels hors du champ de l’usure, code de la consommation art. L314-9)",
      "url": "https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000006193927/",
      "date": "2014-01-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "uk-si-2015-910-sch2-20",
      "label": "legislation.gov.uk: The Mortgage Credit Directive Order 2015 (SI 2015/910), Schedule 2 (requirements for consumer buy-to-let mortgage firms), paragraph 20: the equation of the annual percentage rate of charge, and the result to at least one decimal place",
      "url": "https://www.legislation.gov.uk/uksi/2015/910/schedule/2/paragraph/20",
      "date": "2020-12-31",
      "retrieved": "2026-11-11"
    },
    {
      "id": "uk-hmrc-interest-rate-review",
      "label": "GOV.UK (HMRC): Interest rate review, Annexe A (no general restriction on the rate of interest in a consumer credit agreement; the FCA price cap on high-cost short-term credit)",
      "url": "https://www.gov.uk/government/publications/interest-rate-review/interest-rate-review",
      "date": "2020-12-03",
      "retrieved": "2026-11-11"
    },
    {
      "id": "uk-fsma-137c",
      "label": "legislation.gov.uk: Financial Services and Markets Act 2000, section 137C (FCA rules on the cost of credit)",
      "url": "https://www.legislation.gov.uk/ukpga/2000/8/section/137C",
      "date": "2014-02-18",
      "retrieved": "2026-11-11"
    }
  ],
  "countries": {
    "FR": {
      "name": {
        "fr-FR": "France",
        "en-GB": "France"
      },
      "currency": "EUR",
      "annual_rate": {
        "decimals": 1,
        "decimals_rule": "Le résultat du calcul est exprimé avec une exactitude d’au moins une décimale ; si le chiffre suivant est supérieur ou égal à 5, la décimale est augmentée de 1 (annexe à l’article R314-3, remarque d).",
        "decimals_source_url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000044536833",
        "decimals_source_date": "2021-12-20",
        "by_loan_kind": [
          {
            "loan_kinds": [
              "conso",
              "travaux",
              "immo-fixe",
              "immo-variable",
              "relais"
            ],
            "method": "actuarial",
            "name": {
              "fr-FR": "TAEG",
              "en-GB": "APR (TAEG)"
            },
            "basis": {
              "fr-FR": "méthode actuarielle, art. R314-3 du code de la consommation",
              "en-GB": "actuarial method, French consumer code art. R314-3"
            },
            "valid_from": "2016-10-01",
            "valid_until": null,
            "source_url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807608",
            "source_date": "2016-10-01"
          },
          {
            "loan_kinds": [
              "pro"
            ],
            "method": "proportional",
            "name": {
              "fr-FR": "TEG",
              "en-GB": "TEG"
            },
            "basis": {
              "fr-FR": "méthode proportionnelle, art. R314-2 du code de la consommation",
              "en-GB": "proportional method, French consumer code art. R314-2"
            },
            "valid_from": "2016-10-01",
            "valid_until": null,
            "source_url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807606",
            "source_date": "2016-10-01"
          }
        ]
      },
      "usury": {
        "period": "2026-Q4",
        "legal_basis": "Code de la consommation, art. L314-6 ; code monétaire et financier, art. L313-5-1 ; avis du 25 septembre 2026 (JORF du 26 septembre 2026)",
        "valid_from": "2026-10-01",
        "valid_until": "2026-12-31",
        "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
        "source_date": "2026-09-26",
        "retrieved": "2026-11-11",
        "compared_with": "The ceiling applies to the TAEG (L314-6) at the time the loan is granted. The calculator compares it with the annual equivalent rate it finds, rounded to three decimals, which is the TAEG only when the amount, the upfront fees and the repayment include every cost of the loan. The amount that picks the category is the amount borrowed, before any upfront fee.",
        "no_ceiling": {
          "loan_kinds": [
            "pro"
          ],
          "rule": "Code de la consommation, art. L314-9 : les articles L314-6 à L314-8 ne s’appliquent pas aux prêts accordés à une personne physique pour ses besoins professionnels ou à une personne morale ayant une activité industrielle, commerciale, artisanale, agricole ou professionnelle non commerciale ; le code monétaire et financier (art. L313-5-1) maintient l’usure pour leurs découverts en compte.",
          "valid_from": "2016-07-01",
          "valid_until": null,
          "source_url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032225818",
          "source_date": "2016-07-01",
          "also": {
            "label": "Code monétaire et financier, art. L313-5-1 (découverts en compte des professionnels)",
            "source_url": "https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000006193927/",
            "source_date": "2014-01-01"
          }
        },
        "works_limit": [
          {
            "amount": 75000,
            "valid_from": "2026-10-01",
            "valid_until": "2026-11-19",
            "rule": "Avis du 25 septembre 2026 et Banque de France, notes (1) et (2) du tableau 2026-Q4 : les prêts d’un montant supérieur à 75 000 € destinés à financer la réparation, l’amélioration ou l’entretien d’un immeuble à usage d’habitation (ou à usage professionnel et d’habitation) relèvent des crédits immobiliers ; jusqu’à 75 000 €, des crédits de trésorerie.",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "amount": 100000,
            "valid_from": "2026-11-20",
            "valid_until": null,
            "rule": "Banque de France, notes (1) et (2) du tableau 2026-Q4 : à compter du 20 novembre 2026, le seuil sera supérieur à 100 000 euros.",
            "source_url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09"
          }
        ],
        "categories": [
          {
            "id": "conso-3000",
            "loan_kinds": [
              "conso",
              "travaux"
            ],
            "amount_above": null,
            "amount_up_to": 3000,
            "months_from": null,
            "months_below": null,
            "rate": 23.6,
            "average_rate": 17.7,
            "name": {
              "fr-FR": "crédit à la consommation ou prêt travaux de 3 000 € ou moins",
              "en-GB": "consumer or home improvement loan of €3,000 or less"
            },
            "official_label": "Prêts d’un montant inférieur ou égal à 3 000 euros",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "conso-6000",
            "loan_kinds": [
              "conso",
              "travaux"
            ],
            "amount_above": 3000,
            "amount_up_to": 6000,
            "months_from": null,
            "months_below": null,
            "rate": 15.76,
            "average_rate": 11.82,
            "name": {
              "fr-FR": "crédit à la consommation ou prêt travaux de plus de 3 000 € et jusqu’à 6 000 €",
              "en-GB": "consumer or home improvement loan of over €3,000 and up to €6,000"
            },
            "official_label": "Prêts d’un montant supérieur à 3 000 euros et inférieur ou égal à 6 000 euros",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "conso-plus",
            "loan_kinds": [
              "conso",
              "travaux"
            ],
            "amount_above": 6000,
            "amount_up_to": null,
            "months_from": null,
            "months_below": null,
            "rate": 8.56,
            "average_rate": 6.42,
            "name": {
              "fr-FR": "crédit à la consommation ou prêt travaux de plus de 6 000 €",
              "en-GB": "consumer or home improvement loan of over €6,000"
            },
            "official_label": "Prêts d’un montant supérieur à 6 000 euros",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "immo-fixe-10",
            "loan_kinds": [
              "immo-fixe"
            ],
            "amount_above": null,
            "amount_up_to": null,
            "months_from": null,
            "months_below": 120,
            "rate": 4.09,
            "average_rate": 3.07,
            "name": {
              "fr-FR": "prêt immobilier à taux fixe de moins de 10 ans",
              "en-GB": "fixed-rate property loan of under 10 years"
            },
            "official_label": "Prêts à taux fixe d’une durée inférieure à 10 ans",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "immo-fixe-20",
            "loan_kinds": [
              "immo-fixe"
            ],
            "amount_above": null,
            "amount_up_to": null,
            "months_from": 120,
            "months_below": 240,
            "rate": 4.68,
            "average_rate": 3.51,
            "name": {
              "fr-FR": "prêt immobilier à taux fixe de 10 ans à moins de 20 ans",
              "en-GB": "fixed-rate property loan of 10 to under 20 years"
            },
            "official_label": "Prêts à taux fixe d’une durée comprise entre 10 ans et moins de 20 ans",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "immo-fixe-plus",
            "loan_kinds": [
              "immo-fixe"
            ],
            "amount_above": null,
            "amount_up_to": null,
            "months_from": 240,
            "months_below": null,
            "rate": 5.4,
            "average_rate": 4.05,
            "name": {
              "fr-FR": "prêt immobilier à taux fixe de 20 ans et plus",
              "en-GB": "fixed-rate property loan of 20 years or more"
            },
            "official_label": "Prêts à taux fixe d’une durée de 20 ans et plus",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "immo-variable",
            "loan_kinds": [
              "immo-variable"
            ],
            "amount_above": null,
            "amount_up_to": null,
            "months_from": null,
            "months_below": null,
            "rate": 5.52,
            "average_rate": 4.14,
            "name": {
              "fr-FR": "prêt immobilier à taux variable",
              "en-GB": "variable-rate property loan"
            },
            "official_label": "Prêts à taux variable",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          },
          {
            "id": "relais",
            "loan_kinds": [
              "relais"
            ],
            "amount_above": null,
            "amount_up_to": null,
            "months_from": null,
            "months_below": null,
            "rate": 6.49,
            "average_rate": 4.87,
            "name": {
              "fr-FR": "prêt relais",
              "en-GB": "bridging loan"
            },
            "official_label": "Prêts-relais",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
            "source_date": "2026-09-26"
          }
        ]
      }
    },
    "GB": {
      "name": {
        "fr-FR": "Royaume-Uni",
        "en-GB": "United Kingdom"
      },
      "currency": "GBP",
      "annual_rate": {
        "decimals": 1,
        "decimals_rule": "The result of the calculation must be expressed with an accuracy of at least one decimal place and if the figure at the following decimal place is greater than or equal to 5, the figure at the preceding decimal place must be increased by one (SI 2015/910, Schedule 2, paragraph 20(2)(f), the APRC of consumer buy-to-let mortgages; the calculator applies the same equation and rounding to every loan).",
        "decimals_source_url": "https://www.legislation.gov.uk/uksi/2015/910/schedule/2/paragraph/20",
        "decimals_source_date": "2020-12-31",
        "by_loan_kind": [
          {
            "loan_kinds": [
              "any"
            ],
            "method": "actuarial",
            "name": {
              "fr-FR": "TAEG (APR)",
              "en-GB": "APR"
            },
            "basis": {
              "fr-FR": "taux annuel équivalent",
              "en-GB": "annual equivalent rate"
            },
            "valid_from": null,
            "valid_until": null,
            "in_force_on": "2026-11-11",
            "source_url": "https://www.legislation.gov.uk/uksi/2015/910/schedule/2/paragraph/20",
            "source_date": "2020-12-31"
          }
        ]
      },
      "usury": null,
      "no_general_ceiling": {
        "rule": "There are very few caps on the rates or amounts of interest that can be charged; the lack of a general restriction on the rate of interest in a consumer credit agreement (HMRC, Interest rate review, Annexe A). High-cost short-term credit has its own FCA price cap (FSMA 2000, s. 137C).",
        "source_url": "https://www.gov.uk/government/publications/interest-rate-review/interest-rate-review",
        "source_date": "2020-12-03"
      }
    }
  }
}