Skip to content
Oakclause

Usury Laws in Florida

Florida caps interest at 18% a year (25% for loans over $500,000), uses a quarterly rate set by the Chief Financial Officer when no rate was agreed, and makes willfully charging over 25% a crime.

Last checked . General information, not legal advice.

Florida at a glance

Maximum agreed rate
18%
For loans over $500,000, interest is unlawful only above the 25% criminal usury rate.
Legal rate (no rate agreed)
Quarterly rate set by the CFO
Set by the Chief Financial Officer each quarter: the 12-month average Federal Reserve Bank of New York discount rate plus 4 points (Fla. Stat. 687.01, 55.03).
Criminal usury
Over 25%: misdemeanor; over 45%: felony
Willfully and knowingly charging over 25% up to 45% is a second degree misdemeanor; over 45% is a third degree felony.

Sources

Last checked

The rules in Florida

What is the maximum interest rate on a private loan in Florida?

Maximum agreed rate in Florida: 18%. For loans over $500,000, interest is unlawful only above the 25% criminal usury rate.

What interest rate applies in Florida when no rate was agreed?

Legal rate (no rate agreed) in Florida: Quarterly rate set by the CFO. Set by the Chief Financial Officer each quarter: the 12-month average Federal Reserve Bank of New York discount rate plus 4 points (Fla. Stat. 687.01, 55.03).

When is charging high interest a crime in Florida?

Criminal usury in Florida: Over 25%: misdemeanor; over 45%: felony. Willfully and knowingly charging over 25% up to 45% is a second degree misdemeanor; over 45% is a third degree felony.

Where do the Florida usury laws come from?

The rules above come from Fla. Stat. 687.01, Fla. Stat. 687.03, Fla. Stat. 687.071 and Fla. Stat. 55.03. Each source is linked on this page. We last checked them in October 2026.

What this means in practice

Put the interest rate in writing. Many usury statutes set one limit for written agreements and a different, often lower, rate when nothing was agreed in writing. A signed promissory note or loan agreement that states the rate, the payment schedule and what happens on late payment avoids most disputes.

Count every charge, not only the stated rate. Courts may treat fees, points, required extras or a discount taken from the amount lent as interest when deciding whether a loan is usurious. A loan with a modest rate and large fees can still cross the limit.

Check who the lender is and what the loan is for. Usury limits often do not apply, or apply differently, to banks, licensed consumer lenders, credit card issuers, larger loans and loans to businesses or corporations. A rule written for loans between individuals may not cover your situation, so read the statute and its exceptions.

General information, not legal advice. Laws change, and cities can add their own rules, so check the current statute before you rely on it.