TX · LOAN-AGMT · Updated July 2026 · Free
Texas Loan Agreement PDF
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Texas at a glance: Usury Cap: 18% per year (Tex. Fin. Code § 303.009) · Usury Penalty: Three times excess interest + attorney fees · Governing Law: Texas Finance Code
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Overview
Loan Agreements in Texas
Texas loan agreements are governed by the Texas Finance Code. The default interest cap on written contracts is 18% per year (Tex. Fin. Code § 303.009).
Lenders charging interest rates higher than the statutory cap face severe usury penalties, including forfeiture of all interest and three times the usurious interest charged.
Key Facts
Texas Loan Agreement — Quick Reference
| Requirement | Texas Rule |
|---|---|
| Usury Cap | 18% per year (Tex. Fin. Code § 303.009) |
| Usury Penalty | Three times excess interest + attorney fees |
| Governing Law | Texas Finance Code |
Legal Requirements
Texas Legal Requirements
- Interest rates must not exceed the statutory 18% cap.
- Agreement must be in writing to charge any interest rate above 6%.
Governing Laws
Texas Governing Laws
Read the full text of these laws at Cornell Law School's Texas legal resources or your state legislature's official website.
Questions & Answers
Texas Loan Agreement — Frequently Asked Questions
What happens if no interest rate is written in a Texas contract?
Under Finance Code § 302.002, if no interest rate is agreed upon, the default rate is capped at 6% per year.