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Maine Interest Rates Laws



More Information on Interest Rate Laws

Legal Maximum Rate of Interest6% unless otherwise agreed (Tit. 9-B §432)
Penalty for Usury (Unlawful Interest Rate)-
Interest Rates on JudgmentsBefore judgment: U.S. Treasury Bill rate plus 6% unless contracted, then contract rate (Tit. 14 §1602-B); after judgment: U.S. Treasury rate plus 6% unless contracted, then contract rate (Tit. 14 §1602-C)
ExceptionsPawnbrokers (Tit. 30-A §3963); secured transactions (Tit. 11 §9-1201); consumer credit (Tit. 9-A §2-201)

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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