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WA · LOAN-AGMT · Updated July 2026 · Free

Washington Loan Agreement

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Washington at a glance: Usury Cap: 12% or 4% above prime rate · Governing Law: Washington Revised Code Title 19

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Overview

Loan Agreements in Washington

Washington caps interest rates on written contracts at 12% per year, or 4 percentage points above the Federal Reserve prime rate, whichever is greater (RCW § 19.52.020).
Key Facts

Washington Loan Agreement — Quick Reference

RequirementWashington Rule
Usury Cap12% or 4% above prime rate
Governing LawWashington Revised Code Title 19
Legal Requirements

Washington Legal Requirements

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

Washington Governing Laws

RCW § 19.52.020
Rate of Interest
Defines contract default interest rates.

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

Questions & Answers

Washington Loan Agreement — Frequently Asked Questions

What is the penalty for usury in Washington?

The lender can be held liable for twice the interest paid.