Arizona Interest Rate & Usury Laws

Arizona Statute

From Statute 44-1201: RATE OF INTEREST FOR LOAN OR INDEBTEDNESS; INTEREST ON JUDGMENTS

1. Interest on any loan, indebtedness or other obligation shall be at the rate of ten per cent per annum, unless a different rate is contracted for in writing, in which event any rate of interest may be agreed to.  Interest on any judgment that is based on a written agreement evidencing a loan, indebtedness or obligation that bears a rate of interest not in excess of the maximum permitted by law shall be at the rate of interest provided in the agreement and shall be specified in the judgment.
2. Unless specifically provided for in statute or a different rate is contracted for in writing, interest on any judgment shall be at the lesser of ten per cent per annum or at a rate per annum that is equal to one per cent plus the prime rate as published by the board of governors of the federal reserve system in statistical release H.15 or any publication that may supersede it on the date that the judgment is entered.  The judgment shall state the applicable interest rate and it shall not change after it is entered.
3. Interest on a judgment on a condemnation proceeding, including interest that is payable pursuant to section 12-1123, subsection B, shall be payable as follows:
4. If instituted by a city or town, at the rate prescribed by section 9-409.
5. If instituted by a county, at the rate prescribed by section 11-269.04.
6. If instituted by the department of transportation, at the rate prescribed by section 28-7101.
7. If instituted by a county flood control district, a power district or an agricultural improvement district, at the rate prescribed by section 48-3628.
8. A court shall not award either of the following:
9. Prejudgment interest for any unliquidated, future, punitive or exemplary damages that are found by the trier of fact.
10. Interest for any future, punitive or exemplary damages that are found by the trier of fact.
11. For the purposes of subsection D of this section, “future damages” means damages that will be incurred after the date of the judgment and includes the costs of any injunctive or equitable relief that will be provided after the date of the judgment.
12. If awarded, prejudgment interest shall be at the rate described in subsection A or B of this section.