CA · LOAN-AGMT · Updated July 2026 · Free
California Loan Agreement
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California at a glance: Usury Cap (Non-Exempt): 10% per year (Cal. Const. Art. XV § 1) · Collateral Foreclosure: Requires compliance with UCC Article 9 · Governing Law: California Civil Code
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Overview
Loan Agreements in California
California loan agreements are subject to the California Constitution (Article XV, Section 1) usury limits. For personal, family, or household loans, the interest rate is capped at 10% per annum.
Certain licensed lenders, bank loans, and real-estate broker-secured transactions are exempt from this usury limit.
Key Facts
California Loan Agreement — Quick Reference
| Requirement | California Rule |
|---|---|
| Usury Cap (Non-Exempt) | 10% per year (Cal. Const. Art. XV § 1) |
| Collateral Foreclosure | Requires compliance with UCC Article 9 |
| Governing Law | California Civil Code |
Legal Requirements
California Legal Requirements
- Interest rate must not exceed 10% per annum unless a statutory exemption is met.
- Late fees must be a reasonable estimate of actual damages (liquidated damages rules).
Governing Laws
California Governing Laws
Cal. Const. Art. XV § 1
Interest Rates and Usury
Limits maximum interest rates on personal loans to 10%.
Read the full text of these laws at Cornell Law School's California legal resources or your state legislature's official website.
Questions & Answers
California Loan Agreement — Frequently Asked Questions
Who is exempt from California's usury law?
State and national banks, savings and loans, credit unions, and loans secured by real estate made through a licensed real estate broker are generally exempt.