AK · PROM-NOTE · Updated July 2026 · Free
Alaska Promissory Note
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Alaska at a glance: Usury Limit: 5% above Fed discount rate · Governing Law: Alaska Stat. § 45.45.010
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Overview
Promissory Notes in Alaska
Alaska promissory notes are governed by the Alaska Statutes. The usury rate is set at 5 percentage points above the Federal Reserve discount rate, unless the loan is over $25,000 where it is deregulated.
Key Facts
Alaska Promissory Note — Quick Reference
| Requirement | Alaska Rule |
|---|---|
| Usury Limit | 5% above Fed discount rate |
| Governing Law | Alaska Stat. § 45.45.010 |
Legal Requirements
Alaska Legal Requirements
- Interest rate must comply with the floating discount rate cap for loans under $25,000.
Governing Laws
Alaska Governing Laws
Alaska Stat. § 45.45.010
Legal Rate of Interest
Defines the legal usury ceiling relative to the Federal Reserve discount rate.
Read the full text of these laws at Cornell Law School's Alaska legal resources or your state legislature's official website.
Questions & Answers
Alaska Promissory Note — Frequently Asked Questions
What is the usury limit in Alaska?
The ceiling is a floating rate equal to 5% above the Federal Reserve discount rate for loans under $25,000.