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TN · LOAN-AGMT · Updated July 2026 · Free

Tennessee Loan Agreement

Review Status: PendingAuthor: Editorial TeamMethodology: Statutory Verification

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Tennessee at a glance: Usury Cap: 4% above formula rate · Governing Law: Tennessee Code Title 47

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Overview

Loan Agreements in Tennessee

Tennessee caps interest rates on written contracts at 4 percentage points above the formula rate published by the commissioner of financial institutions (Tenn. Code § 47-14-103).
Key Facts

Tennessee Loan Agreement — Quick Reference

RequirementTennessee Rule
Usury Cap4% above formula rate
Governing LawTennessee Code Title 47
Legal Requirements

Tennessee Legal Requirements

  • Interest rates must comply with Tennessee statutory limits.
Governing Laws

Tennessee Governing Laws

Tenn. Code § 47-14-103
Rate of Interest
Defines interest limits on written contracts.

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

Questions & Answers

Tennessee Loan Agreement — Frequently Asked Questions

What is the default contract interest rate in Tennessee?

10% per year.