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Connecticut Promissory Note

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Connecticut at a glance: Usury Limit: 12% per year · Governing Law: Conn. Gen. Stat. § 37-4

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Overview

Promissory Notes in Connecticut

Connecticut law sets a maximum usury limit of 12% per year for loans, with exemptions for mortgages and loans over $10,000 made for business purposes.
Key Facts

Connecticut Promissory Note — Quick Reference

RequirementConnecticut Rule
Usury Limit12% per year
Governing LawConn. Gen. Stat. § 37-4
Legal Requirements

Connecticut Legal Requirements

  • Interest rate cannot exceed 12% per year unless an exemption applies.
Governing Laws

Connecticut Governing Laws

Conn. Gen. Stat. § 37-4
Prohibited Loans
Prohibits charging interest rates in excess of 12% per year.

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

Questions & Answers

Connecticut Promissory Note — Frequently Asked Questions

What is the usury ceiling in Connecticut?

The ceiling is 12% per year for standard personal loans.