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Georgia Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 7% per year when rate not specified; higher than 7% must be in writing; maximum 16% where principal is $3000 or less; no limit on rate if loan is between $3000 and $250,000 and must be in simple interest in written contract (§7-4-2) |
| Penalty for Usury (Unlawful Interest Rate) | Forfeiture of entire interest (§7-4-10); criminal penalty (§7-4-18) |
| Interest Rates on Judgments | Prime rate determined by Federal Reserve System plus 3% (§7-4-12) |
| Exceptions | Small industrial loans (§7-3-14) |
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