New York Loan Agreement PDF
New York at a glance: Civil Usury Cap: 16% per year (N.Y. GOL § 5-501) · Criminal Usury Cap: 25% per year (N.Y. Penal Law § 190.40) · Penalty for Usury: Contract is strictly void and uncollectible
Download Blank Template
Get a print-ready template instantly. Best if you want to print and fill the document by hand. No questions, no registration.
Build Personalized Document
Answer simple questions to customize this document. Generates all required clauses, terms, and state-specific details for New York.
100% Free · No registration or email required
Loan Agreements in New York
New York loan agreements are subject to strict civil and criminal usury laws under the General Obligations Law and Penal Law. The civil usury limit is 16% per year (N.Y. GOL § 5-501).
Interest rates exceeding 25% per year constitute criminal usury and are strictly void.
New York Loan Agreement — Quick Reference
| Requirement | New York Rule |
|---|---|
| Civil Usury Cap | 16% per year (N.Y. GOL § 5-501) |
| Criminal Usury Cap | 25% per year (N.Y. Penal Law § 190.40) |
| Penalty for Usury | Contract is strictly void and uncollectible |
| Governing Law | N.Y. General Obligations Law |
New York Legal Requirements
- Interest rates must not exceed 16% per annum for standard loans.
- Loans over $250,000 are exempt from the 16% limit, and loans over $2.5 million are exempt from the 25% limit.
New York Governing Laws
Read the full text of these laws at Cornell Law School's New York legal resources or your state legislature's official website.