Ohio Interest Rates Laws
|Legal Maximum Rate of Interest||8% (§1343.01)|
|Penalty for Usury (Unlawful Interest Rate)||Excess interest applied to principal (§1343.04)|
|Interest Rates on Judgments||Contract rate (§1343.02), otherwise 10% (§1343.03)|
|Exceptions||Amount exceeds $100,000; broker/dealer registered; secured by mortgage or deed of trust; business loan (§1343.01)|
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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