In the United States, it has been up to the states to set limits on interest rates and usury on their own. While there are several ways that companies have tried to circumvent these laws, limits on the maximum allowable interest rate are generally seen as a good thing.
Predatory lending has been a problem for most of human history, but these laws can help to protect consumers.
The information below is current as of 2021. Laws change often, please check the accuracy of this information by checking current state laws.
| STATE | USURY LIMIT | NOTES |
| AL | 8% | For principal balances over $2,000. |
| AK | 10.5% | Express contracts can be 5% above the legal limit. |
| AZ | 10% | Some contracts may not be subject to a limit. |
| CA | 10% | Valid for consumer loans only. Other loans are 5% above the Federal Reserve’s Discount Rate (https://www.frbdiscountwindow.org/) |
| CO | 12% | Valid for all loans. |
| CT | 12% | Different rules apply to mortgages, and the usury limit for business loans is 17%. |
| DE | 5% above Federal Reserve Discount Rate | https://www.frbdiscountwindow.org/ |
| FL | 18% | For loans less than $500,000. 25% for loans over $500,000. |
| GA | 16% | For loans less than $3,000. Loans over $3,000 have a max rate of 5% per month, simple interest. |
| HI | 10% | For personal loans only. |
| ID | 12% | For personal loans only. |
| IL | 9% | For personal loans only. |
| IN | 10% | Valid for all loans. |
| IA | Dynamic Rates | Max rate determined by Superintendent of Banking on a monthly basis. |
| KS | 15% | Mortgage rates are 1.5% above 30-year fixed rates. |
| KY | 19% | Loans less than $15,000 is the lesser of 19% or 4% above the Federal Reserve Discount Rate. No limit for loans over $15,000. |
| LA | 12% | Adjustable rate mortgages have a max of 17%. |
| ME | 6% | Some loans may not be subject to this max. |
| MD | 8% | Some loans are not subject to this max. |
| MA | 20% | Valid for all loans. |
| MI | 7% | Some loans are not subject to this max. |
| MN | 8% | Ag or business loans less than $100,000 max at 4.5% above the Fed Reserve Discount Rate. |
| MS | Greater of 10% or 5% above the Fed Reserve Discount Rate. | Some loans are subject to other maximums. |
| MO | Greater of 10% or 3% above the Long Term Govt. Bond Yeild | https://www.bloomberg.com/markets/rates-bonds/government-bonds/us |
| MT | Greater of 10% or 6% above the Wall Street Journal Prime Rate | http://www.wsj.com/mdc/public/page/2_3020-moneyrate.html |
| NE | 16% | Valid for all loans. |
| NV | None | No usury limit. |
| NH | None | No usury limit. |
| NJ | 6% | The max usury is 30% for consumer lending, and 50% for businesses. |
| NM | 15% | Judgement limit set by courts. |
| NY | 9% | Max usury limit is 12%. |
| NC | 8% | Over $25K, there is no limit |
| ND | 5.5% above the 6 month treasury bill rate | Judgement rate is 12%. |
| OH | 8% | No limit for loans over $100,000. |
| OK | Consumer loans max 10 % unless the lender is licensed for consumer lending. | Max rate on non-consumer lending is 45%. |
| OR | 9% | The judgment rate is 9%. General usury rate for lending below $50,000 is 12%, or 5% higher than the discount rate for commercial notes. |
| PA | 25% | Max interest for most loans is 6%. |
| RI | 21% | General usury limit is 21% or the interest rate charged for T-Bills + 9%. Judgements are at 12%. |
| SC | 8.75% | Judgments accumulate interest at 14%. There is no general usury limit for business loans. |
| SD | None | No general usury limit. Judgments accumulate interest at the rate of 12%. Consumer loans below $5,000 have other restrictions, max interest of 15%. |
| TN | 24% | General usury limit is 24%, or 4% higher than the average prime loan rate. Judgements are set at 12%. |
| TX | 6% | The judgment rate of interest is 18% or the rate specified in the contract, whichever is less. |
| UT | 10% | Judgements accumulate interest at 12%. |
| VT | 12% | Consumer loans have a maximum rate of 18% on the first $500, and 15% thereafter. General usury limit is 12%. |
| VA | 8% | Judgments also accumulate at 8%. There is no business usury limit for loans over $5,000. Some consumer loans have different usury limits. |
| WA | 12% | The general usury limit is 12 percent, or 4% higher than the average T-Bill rate for the past 26 weeks. Judgments accumulate interest at 12% interest. |
| WV | 6% | Valid for all loans. |
| WI | 5% | State has set interest rates on specific lending products. There is no general usury limit for businesses. The judgment rate is 12 percent. |
| WY | 10% | Valid for all loans. |
| DC | 6% | May go up to 24% if agreed to in writing. |
| PR | 6% | Other rates set by the Finance Board of Office of Commissioner of Financial Institutions |
Usury rates change from time to time and state laws can be complex. If you see an error, please let us know!