Usury Laws by State 2024 (2024)

Alabama6%8.0%12%Alaska10.5%5% (see notes)

Alaska's general usury limit is more than 5% above the Federal Reserve interest rate on the day the...

Arizona10%Arkansas6%variable (see notes)variable (see notes)

The usury limit for non-consumers is 5% above the Federal Reserve's interest rate. The usury limit ...

California10%5% (see notes)

California's general usury limit for non-consumers is more than 5% greater than the Federal Reserve...

Colorado8%45.0%

Maximum Rate to Consumers: 12% per annum.

Connecticut8%12.0%

In civil suits where interest is allowed, it is allowed at 10%.

Delaware5%District of Columbia6%24.01% (anything > 24%)

The general usury limit in the District of Columbia is anything greater than 24%.

Florida12%18.0%

On loans above $500,000, the maximum rate is 25%.

Georgia7%

On loans below $ 3,000, the usury limit is 16%. On loans above $ 3,000, the limit appears to be 5% ...

Hawaii10%

The usury limit for consumer transactions is 12%.

Idaho12%

Judgments bear interest at the rate of 5% above the U.S. Treasury securities rate.

Illinois5%9.0%9%Indiana10%10%Iowa10%

Consumer transactions are governed at a maximum rate of 12%.

Kansas10%15.0%

Judgments bear interest at 4% above the federal discount rate. On consumer transactions, the maximu...

Kentucky8%variable (see notes)

Kentucky's general usury limit is either more than 4% greater than the Federal Reserve rate or 19%,...

Louisiana7%12.0%

Louisiana's rate of interest is actually a sliding scale. The rate at any given time is one point h...

Maine6%

Judgments below $30,000 bear 15%; otherwise, they bear interest at the 52-week average discount rat...

Maryland6%24.0%10%Massachusetts6%20.0%variable (see notes)

The interest rate for usury judgements in Massachusetts can be either 12% or 18%, depending upon we...

Michigan5%7.0%variable (see notes)

Michigan's usury judgements interest rate is variable, and set 1% above the five-year T-note rate.

Minnesota6%8.0%

The judgment rate is the "secondary market yield" for one-year T-Bills.

Mississippi0%variable (see notes)9%

Commercial loans above $5,000 have no usury limit. Mississippi's general usury limit is more than 1...

Missouri9%9%

Corporations do not have a usury defense.

Montana10%variable (see notes)10%

Montana's general usury limit is above 6% greater than prime rate of New York City banks.

Nebraska6%16.0%1%

Accounts bear interest at the rate of 12%.

Nevada12%

No usury limit.

New Hampshire10%New Jersey6%variable (see notes)

New Jersey's general usury limit is 30% for individuals and 50% for corporations

New Mexico15%

Judgment rate is fixed by the court.

New York9%16.0%North Carolina8%8.0%

There is a provision for a variable rate, which is 16% or the T-Bill rate for non-competitive T-Bil...

North Dakota6%5.5%12%

A late payment charge of 1.75% per month may be charged to commercial accounts that are overdue, pr...

Ohio0%8.0%Oklahoma6%

Consumer loans may not exceed 10% unless the person is licensed to make consumer loans. Maximum ra...

Oregon9%variable (see notes)

Oregon's general usury limit for loans below $50,000 is either 12% or 5% over the discount rate for...

Pennsylvania6%6.0%

It is criminal usury to charge more than 25%.

Rhode Island12%variable (see notes)12%

Rhode Island's general usury limit may be either 21% or the interest rate charged for T-Bills plus ...

South Carolina8.8%14%

Subject to federal criminal laws against loan sharking, there is no general usury limit for non-con...

South Dakota15%12%Tennessee10%variable (see notes)10%

Tennessee's general usury limit is the lesser of 24% or four points above the average prime loan ra...

Texas6%18%

Interest does not begin until 30 days after an account was due.

Utah10%12%Vermont12%12.0%12%

On retail installment contracts, the maximum rate is 18% on the first $500 and 15% for the portion ...

Virginia8%8%

Corporations and business loans do not have a usury limit, and loans over $5,000 for "business" or ...

Washington12%variable (see notes)variable (see notes)

Washington's general usury limit is either 12% or four points above the average T-Bill rate for the...

West Virginia6%

The maximum "contractual" rate is 8%. Commissioner of Banking issues rates for real estate loans an...

Wisconsin5%variable (see notes)

Wisconsin applies a myriad of rates for different types of loans. There is no general usury limit f...

Wyoming10%10%

If a contract provides for a lesser rate, the judgment rate is the lesser of 10% and the contract r...

Usury Laws by State 2024 (2024)
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