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Kentucky Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 8% absent agreement otherwise; parties may agree to a rate not to exceed 4% above discount rate of Fed. Reserve Bank or 19% whichever is less for principal amount of $15,000 (§360.010) |
| Penalty for Usury (Unlawful Interest Rate) | Borrower may recover twice amount paid (§360.020) |
| Interest Rates on Judgments | 12% unless contract, then contract rate (§360.040) |
| Exceptions | Banks (§360.010(2)); credit union (§290.465); small loans (§288.530) |
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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