MS · LOAN-AGMT · Updated July 2026 · Free
Mississippi Loan Agreement
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Mississippi at a glance: Usury Cap: 10% or 5% above Fed discount rate · Default Interest: 8% (if not written) · Governing Law: Mississippi Code Chapter 75
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Overview
Loan Agreements in Mississippi
Mississippi caps interest rates on written contracts at 10% per year, or 5% above the Federal Reserve discount rate, whichever is greater (Miss. Code § 75-17-1).
Key Facts
Mississippi Loan Agreement — Quick Reference
| Requirement | Mississippi Rule |
|---|---|
| Usury Cap | 10% or 5% above Fed discount rate |
| Default Interest | 8% (if not written) |
| Governing Law | Mississippi Code Chapter 75 |
Legal Requirements
Mississippi Legal Requirements
- Interest rates must comply with Mississippi statutory limits.
Governing Laws
Mississippi Governing Laws
Read the full text of these laws at Cornell Law School's Mississippi legal resources or your state legislature's official website.
Questions & Answers
Mississippi Loan Agreement — Frequently Asked Questions
Are business loans exempt from Mississippi's usury limits?
Yes, B2B agreements are exempt.