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Usury Laws in Ohio

Ohio limits written loans to 8% a year unless an exception applies, uses a yearly statutory rate set by the tax commissioner when no rate is agreed, and makes criminal usury (over 25% a year) a fourth-degree felony.

Last checked . General information, not legal advice.

Ohio at a glance

Maximum agreed rate
8%
Exceptions include loans over $100,000, business loans, and notes payable on demand or in one installment not secured by household goods.
Legal rate (no rate agreed)
Yearly rate set by the tax commissioner
The Ohio tax commissioner sets this rate each year; it applies unless a written contract sets a different rate.
Criminal usury
Over 25% a year: fourth degree felony
Knowingly charging over 25% a year is criminal usury unless the rate is authorized by law or the parties are immediate family.

Sources

Last checked

The rules in Ohio

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

Maximum agreed rate in Ohio: 8%. Exceptions include loans over $100,000, business loans, and notes payable on demand or in one installment not secured by household goods.

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

Legal rate (no rate agreed) in Ohio: Yearly rate set by the tax commissioner. The Ohio tax commissioner sets this rate each year; it applies unless a written contract sets a different rate.

When is charging high interest a crime in Ohio?

Criminal usury in Ohio: Over 25% a year: fourth degree felony. Knowingly charging over 25% a year is criminal usury unless the rate is authorized by law or the parties are immediate family.

Where do the Ohio usury laws come from?

The rules above come from Ohio Rev. Code 1343.01, Ohio Rev. Code 1343.03, Ohio Rev. Code 2905.21 and Ohio Rev. Code 2905.22. 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.