MN · LOAN-AGMT · Updated July 2026 · Free

Minnesota Loan Agreement PDF

Not Attorney-ReviewedAuthor: Arjun AnnamalaiMethodology: Statutory Verification

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Minnesota at a glance: Usury Cap (Under $100k): 8% per year (Minn. Stat. § 334.01) · Default Interest: 6% (if not written) · Governing Law: Minnesota Statutes Chapter 334

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Overview

Loan Agreements in Minnesota

Minnesota caps interest rates on personal loans under $100,000 at 8% per year (Minn. Stat. § 334.01).
Key Facts

Minnesota Loan Agreement — Quick Reference

RequirementMinnesota Rule
Usury Cap (Under $100k)8% per year (Minn. Stat. § 334.01)
Default Interest6% (if not written)
Governing LawMinnesota Statutes Chapter 334
Legal Requirements

Minnesota Legal Requirements

  • Interest rates must not exceed 8% per annum for loans under $100,000.
Governing Laws

Minnesota Governing Laws

Minn. Stat. § 334.01
Rate of Interest
Defines contract interest limits.

Read the full text of these laws at Cornell Law School's Minnesota legal resources or your state legislature's official website.

Questions & Answers

Minnesota Loan Agreement — Frequently Asked Questions

Are loans over $100,000 exempt from Minnesota's usury law?

Yes, transactions over $100,000 are exempt.