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Missouri Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | Absent agreement, 9% (§408.020); contract rate not to exceed 10% except when market rate is higher (§408.030) |
| Penalty for Usury (Unlawful Interest Rate) | If usury collected, excess over legal rate applied to principal or debtor may recover (§§408.050, 060); debtor may recover twice amount of interest paid, costs of suit, and attorney's fees (§408.030) |
| Interest Rates on Judgments | 9% or higher rate lawfully stipulated (§408.040) |
| Exceptions | Loans to corporations, general partnerships, limited partnerships, or limited liability companies; business loans of $5000 or more; real estate loans other than residential real estate of less than $5000 secured by real estate used for agricultural activity or loans of $5000 or more secured solely by certificates of stock, bonds, bills of exchange, certificates of deposit or other commercial paper pledged as collateral for repayment of loan (§408.035) |
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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