MD · LOAN-AGMT · Updated July 2026 · Free
Maryland Loan Agreement
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Maryland at a glance: Usury Cap (Unsecured): 8% per year (Md. Code Com. Law § 12-102) · Usury Cap (Secured by Home): Capped based on mortgage index · Governing Law: Maryland Commercial Law
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Overview
Loan Agreements in Maryland
Maryland caps interest rates on unsecured personal loans at 8% per year under Maryland Code Commercial Law Section 12-102.
Key Facts
Maryland Loan Agreement — Quick Reference
| Requirement | Maryland Rule |
|---|---|
| Usury Cap (Unsecured) | 8% per year (Md. Code Com. Law § 12-102) |
| Usury Cap (Secured by Home) | Capped based on mortgage index |
| Governing Law | Maryland Commercial Law |
Legal Requirements
Maryland Legal Requirements
- Interest rates must not exceed 8% per annum for unsecured personal loans.
Governing Laws
Maryland Governing Laws
Read the full text of these laws at Cornell Law School's Maryland legal resources or your state legislature's official website.
Questions & Answers
Maryland Loan Agreement — Frequently Asked Questions
Are business loans exempt from Maryland's 8% usury limit?
Yes, commercial transactions are exempt.