AZ · PROM-NOTE · Updated July 2026 · Free
Arizona Promissory Note
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Arizona at a glance: Usury Limit: No limit (if written in contract) · Default Legal Rate: 10% per year · Governing Law: Ariz. Rev. Stat. § 44-1201
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Overview
Promissory Notes in Arizona
Arizona has a default legal interest rate of 10% per year. However, Arizona usury laws allow parties to contract for any interest rate as long as the agreement is in writing and signed.
Key Facts
Arizona Promissory Note — Quick Reference
| Requirement | Arizona Rule |
|---|---|
| Usury Limit | No limit (if written in contract) |
| Default Legal Rate | 10% per year |
| Governing Law | Ariz. Rev. Stat. § 44-1201 |
Legal Requirements
Arizona Legal Requirements
- Note must be in writing to exceed the default 10% interest rate.
Governing Laws
Arizona Governing Laws
Ariz. Rev. Stat. § 44-1201
Rate of Interest
Establishes the default 10% rate and allows parties to contract for any rate in writing.
Read the full text of these laws at Cornell Law School's Arizona legal resources or your state legislature's official website.
Questions & Answers
Arizona Promissory Note — Frequently Asked Questions
Is there a maximum interest rate in Arizona?
No, Arizona does not limit interest rates on written agreements as long as the borrower signs the contract.