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Iowa Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 5% unless agreed upon in writing then not to exceed amount specified in §535.2(3) (§535.2(1)) |
| Penalty for Usury (Unlawful Interest Rate) | Plaintiff may have judgment only for principal debt without interest or costs; forfeiture of 8% by the year of principal remaining unpaid at time of judgment (§535.5) |
| Interest Rates on Judgments | 10% unless rate (up to §535.2 amount) expressed in contract (§535.3); (§668.13) |
| Exceptions | Loan for real property, business or agricultural loans (§535.2(2)) |
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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