Connecticut Interest Rate & Usury Laws

SUMMARY: Connecticut Maximum Interest Rate

  • 12% annually for loans

Connecticut Statute

 

From Statute Chapter 673 Section 37-4: INTEREST

 

Sec. 37-4. Loans at greater rate than twelve per cent prohibited. No person and no firm or corporation or agent thereof, other than a pawnbroker as provided in section 21-44, shall, as guarantor or otherwise, directly or indirectly, loan money to any person and, directly or indirectly, charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum.

 

Disclaimer

 

This information may or may not be the full scope of Connecticut’s interest and usury laws.  Many States may, from time to time, adjust their statutes pertaining to allowable interest and usury rates as well as exceptions.  Be sure to review the Connecticut Interest & Usury statute in its entirety and consult with a relevant attorney if you have any specific questions.

 

Additional Resources