Current Maximum Interest Rates
|
Maximum Interest Rates for Quarter Ending March 31, 2025 |
|
|---|---|
|
Maximum variable interest rate for loans made before Jan. 27, 1981 |
8.125% |
|
Maximum interest rate for variable rate loans executed on or after Jan. 27, 1981, through Oct. 21, 1985 |
8.125% |
|
Maximum interest rate for variable rate loans executed on or after Oct. 22, 1985 |
7.625% |
The average bond equivalency rate for 91-day U.S. Treasury Bills during the period Oct. 1, 2024, through Dec. 31, 2024, was 4.510 percent.
Maximum Interest Rates for Previous Three Quarters
|
Rates for Quarter Ending |
Loans Made Prior to 1/27/1981 |
Loans Made On or After 1/27/1981* |
Loans Made On or After 10/22/1985** |
|---|---|---|---|
|
Dec. 31, 2024 |
8.625% |
8.625% |
8.125% |
|
Sept. 30, 2024 |
9% |
9% |
8.5% |
|
June 30, 2024 |
9% |
9% |
8.5% |
*Legislation Amended – 12 percent annual interest cap repealed – quarterly interest rate on loans made on or after 1/27/1981 through 10/21/1985, became a floating rate based on 91-day T-Bill rate plus 3 1/2 percent, rounded to the next higher 1/8 of one percent.
**Legislation Amended – variable interest rate calculation amended – quarterly interest rate on loans made on or after 10/22/1985 became a floating rate based on 91-day T-Bill rate plus 3 percent, rounded to the next higher 1/8 of one percent.