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Indiana Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 21% for unsupervised consumer loan (24-4.5-3-201) |
| Penalty for Usury (Unlawful Interest Rate) | Class A misdemeanor for supervised lender to knowingly charge in excess of 24-4.5-3-508 for consumer loan (24-4.5-5-301); consumer has right to refund of amount paid in excess of statute and up to 3 times the amount in its discretion (24-4.5-5-202) |
| Interest Rates on Judgments | At contract rate not exceeding 8%, or 8% if there is no contract between the parties, beginning from the date of verdict or the finding of the court (§24-4.6-1-101); 6% beginning 45 days after judgment if against the state (§34-54-8-5) |
| Exceptions | Supervised loan is a consumer loan in which rate of loan finance charge exceeds 21% (24-4.5-3-501) |
Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.
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- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
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