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Delaware Promissory Note PDF
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Delaware at a glance: Usury Limit: No limit (if written) · Governing Law: Del. Code Tit. 6 § 2301
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Overview
Promissory Notes in Delaware
Delaware permits any interest rate if agreed to in writing. If not specified, the default legal rate is 5% above the Federal Reserve discount rate.
Key Facts
Delaware Promissory Note — Quick Reference
| Requirement | Delaware Rule |
|---|---|
| Usury Limit | No limit (if written) |
| Governing Law | Del. Code Tit. 6 § 2301 |
Legal Requirements
Delaware Legal Requirements
- Agreement must be in writing to exceed the statutory rate.
Governing Laws
Delaware Governing Laws
Del. Code Tit. 6 § 2301
Legal Rate of Interest
Sets the default interest rate and permits unlimited rates if agreed in writing.
Read the full text of these laws at Cornell Law School's Delaware legal resources or your state legislature's official website.
Questions & Answers
Delaware Promissory Note — Frequently Asked Questions
What is the maximum interest rate in Delaware?
Delaware does not cap interest rates on written loans.