Interest Rates - As enacted, increases, from 30 to 36 percent per annum, the maximum permitted effective rate of interest that may be contracted for by an industrial loan and thrift company on an unpaid balance where the amount financed is $100 or more; makes other related changes. - Amends TCA Title 45, Chapter 5.

HB 775 increases the maximum annual interest rate industrial loan and thrift companies in Tennessee can charge on loans of $100 or more from 30% to 36%. This change takes effect July 1, 2025, applying to new, amended, or renewed loan contracts after that date. The bill also includes related adjustments to other interest rate provisions in Tennessee Code Annotated, Title 45, Chapter 5. It directly affects these financial institutions and borrowers who take out qualifying loans.