2022 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 8 - Interest and Usury.
Section 8-8-1 - Maximum Rates of Interest - Generally.

Universal Citation: AL Code § 8-8-1 (2022)

Section 8-8-1

Maximum rates of interest - Generally.

Except as otherwise provided by law, the maximum rate of interest upon the loan or forbearance of money, goods, or things in action, except by written contract is $6 upon $100 for one year, and the rate of interest by written contract is not to exceed $8 upon $100 for one year and at that rate for a greater or less sum or for a longer or shorter time.

(Code 1852, §1519; Code 1867, §1827; Code 1876, §2088; Code 1886, §1750; Code 1896, §2626; Code 1907, §4619; Code 1923, §8563; Acts 1935, No. 37, p. 69; Code 1940, T. 9, §60.)

Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.