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Massachusetts Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 6% unless contract (Ch. 107 §3) |
| Penalty for Usury (Unlawful Interest Rate) | Over 20%: criminal usury; usurious loan may be voided by Supreme Judicial or Supreme Court in equity (Ch. 271 §49) |
| Interest Rates on Judgments | 12% torts (Ch. 231 §6B); at contract rate if contract up to 12% (Ch. 231 §6C); sanctions defenses/counterclaims for frivolous or not in good faith actions (Ch. 231 §6F) |
| Exceptions | Small loans (Ch. 140 §96); open-end credit transaction (Ch 140 §114B); life insurance policy loans (Ch. 175 §142) |
Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.
Research the Law:
- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
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