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North Carolina Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 8% (§24-1); may contract for higher rate if under $25,000; if over $25,000, may contract any rate (§24-1.1) |
| Penalty for Usury (Unlawful Interest Rate) | Forfeiture of all interest; party paying may recover double interest paid (§24-2) |
| Interest Rates on Judgments | 8% (§24-1) or at contract rate (§24-5) |
| Exceptions | Home loans secured by mortgage or first deed of trust (§24-1.1A); savings and loan associations (§24-1.4); loans to corporations (§24-9); equity lines of credit (§24-1.2A) |
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