exorbitant interest rate

USAGE SUMMARY

The phrase "exorbitant interest rate" is correct and usable in written English.
It can be used when discussing financial terms, particularly in the context of loans or credit where the interest charged is considered excessively high. Example: "Many borrowers struggle to keep up with the exorbitant interest rates imposed by payday lenders."

✓ Grammatically correct

News & Media

Encyclopedias

Science

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

When a shady Arab trader offers Sogo a mill on credit, he accepts despite the exorbitant interest rate.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

55 human-written examples

Such loans, billed as "rapid" or "instant" refunds, typically charge exorbitant interest rates.

The New York Times

The exorbitant interest rates they charged — sometimes as high as 60 percent — only fed the fury.

The New York Times - Books

The latter led to a series of government reforms, including caps on exorbitant interest rates.

The Guardian

In fact, until 1978, banks were subject to laws in every state that banned lending at exorbitant interest rates.

The New York Times

Before microlenders arrived, the poor had little choice but to become deeply indebted to moneylenders who charged exorbitant interest rates of 120 percent or more a year.

The New York Times

Most Dalits are paid less than the cost of living, forcing millions to borrow money at exorbitant interest rates from unscrupulous bosses who trick them into perpetual slavery.

The Guardian - Opinion

The party denounces exorbitant interest rates charged on the debt of our country, and Islam is against the practice of usury".

Independent

He says he has had to resort to cash advance companies that expect him to pay back loans at exorbitant interest rates.

The New York Times

Their sometimes exorbitant interest rates, however, caused social unrest, which made public authorities aware of the need for alternative facilities for consumption loans.

Encyclopedia Britannica

That would move the state's borrowing into junk-bond territory and impose exorbitant interest rates on any future bond issues.

The New York Times

Expert writing Tips

Best practice

When writing about financial matters, be specific about the actual percentage of the "exorbitant interest rate" to highlight the severity. Providing concrete numbers adds impact.

Common error

Avoid using "exorbitant" interchangeably with words like "high" or "expensive" without considering the context. "Exorbitant" implies an extreme level of excessiveness or unreasonableness, whereas "high" is a more general term.

Linguistic Context

The phrase "exorbitant interest rate" functions as a descriptive phrase. It typically modifies a noun related to loans, debt, or financial agreements. As Ludwig indicates, it's grammatically correct and readily understood in various contexts.

Expression frequency: Very common

Frequent in

News & Media

85%

Encyclopedias

8%

Science

7%

Less common in

Formal & Business

0%

Reference

0%

Wiki

0%

Ludwig's WRAP-UP

The phrase "exorbitant interest rate" is a grammatically sound and commonly used expression to describe excessively high interest charges. As Ludwig AI affirms, it’s clear and understandable. Predominantly found in news and media, this phrase serves to express criticism of unfair lending practices. When using the term, providing concrete figures on the actual rates strengthens the impact. While synonyms like "excessive interest rate" or "outrageous interest rate" exist, be mindful of the specific context to ensure accurate conveyance. Avoid simply substituting with "high", as "exorbitant" carries a stronger connotation of unreasonableness.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

excessive interest rate

Replaces "exorbitant" with "excessive", maintaining a similar meaning of something beyond what is considered normal or acceptable.

exceedingly high interest rate

Replaces "exorbitant" with "exceedingly high", intensifying the degree of the interest rate.

unreasonable interest rate

Substitutes "exorbitant" with "unreasonable", suggesting the rate is unfair or not justified.

outrageous interest rate

Replaces "exorbitant" with "outrageous", emphasizing the shocking or offensive nature of the high rate.

inflated interest rate

Suggests the interest rate has been artificially increased or exaggerated.

punitive interest rate

Suggests the interest rate is so high it feels like a punishment.

sky-high interest rate

Emphasizes the extreme height of the interest rate using a more informal expression.

unconscionable interest rate

Highlights that the interest rate is so excessive that it shocks the conscience.

usurious interest rate

Uses the term "usurious", which specifically refers to the practice of lending money at unfairly high interest rates.

rip-off interest rate

An informal expression suggesting the interest rate is a form of exploitation.

FAQs

What makes an interest rate "exorbitant"?

An "exorbitant interest rate" is one that is excessively high and unreasonable, often considered unfair or exploitative. The specific percentage that qualifies as "exorbitant" can vary based on legal and ethical standards, but it always implies a rate that is far beyond the norm.

What are some synonyms for "exorbitant interest rate"?

Alternatives to "exorbitant interest rate" include "excessive interest rate", "unreasonable interest rate", and "outrageous interest rate". The best choice depends on the specific nuance you want to convey.

How do laws regulate "exorbitant interest rates"?

Many jurisdictions have usury laws that set limits on the maximum interest rates lenders can charge. These laws are designed to protect borrowers from predatory lending practices involving "exorbitant interest rates".

In what contexts is the term "exorbitant interest rate" commonly used?

The term "exorbitant interest rate" is frequently used in discussions about payday loans, microfinance, and other types of lending where vulnerable borrowers may be subject to very high charges. It's also used in legal and economic contexts when analyzing fairness in lending practices.