{"data":{"id":"us-tn/tenn.-code-ann.-47-14-107","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 47-14-107","heading":"Computation of interest - Installment loans","body":"(a) This chapter does not limit or restrict the manner or method of contracting for interest, whether by way of add-on, discount, or otherwise, so long as the maximum effective rate of interest does not exceed that authorized by statute. (b) For installment loans, the maximum effective rate of interest shall: (1) Be determined in accordance with the actuarial method; (2) Be calculated, in the case of a precomputed loan, on the assumption that all scheduled payments will be made as contracted; and (3) Not be affected by the prepayment of the loan, in whole or in part. Acts 1979, ch. 203, § 6.\n(a) This chapter does not limit or restrict the manner or method of contracting for interest, whether by way of add-on, discount, or otherwise, so long as the maximum effective rate of interest does not exceed that authorized by statute.\n(b) For installment loans, the maximum effective rate of interest shall: (1) Be determined in accordance with the actuarial method; (2) Be calculated, in the case of a precomputed loan, on the assumption that all scheduled payments will be made as contracted; and (3) Not be affected by the prepayment of the loan, in whole or in part.\n(1) Be determined in accordance with the actuarial method;\n(2) Be calculated, in the case of a precomputed loan, on the assumption that all scheduled payments will be made as contracted; and\n(3) Not be affected by the prepayment of the loan, in whole or in part.","path":["TN Code","Title 47","Chapter 14"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"f049611c5bd56ab32c065f01dc6d43d0037a1807f88a0279b12b4c0223b0b02f","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-47-14-106","next":"us-tn/tenn.-code-ann.-47-14-108"},"notice":"GroundRules: Original legal text. Not legal advice."}