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New Jersey Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 6% or up to 16% for contract (§31:1-1); loans in excess of 30% or 50% in limited liability to corporations are not permitted (§2C:21-19) |
| Penalty for Usury (Unlawful Interest Rate) | Only amount lent may be recovered (§31:1-3); guilty of criminal usury and up to $250,000 fine (§2C:21-19) |
| Interest Rates on Judgments | - |
| Exceptions | Loan for over $50,000; savings and loans; banks; Department of Housing and Urban Affairs and other organizations authorized by the Emergency Home Finance Act of 1970; state or federal government or quasi-governmental organizations (§31:1-1) |
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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