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Kentucky Promissory Note

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Kentucky at a glance: Usury Limit: 8% per year (loans under $15k) · Governing Law: Ky. Rev. Stat. § 360.010

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Overview

Promissory Notes in Kentucky

Kentucky usury laws limit interest rates on loans of $15,000 or less to 8% per year, or 4% above the Federal Reserve discount rate, whichever is greater.
Key Facts

Kentucky Promissory Note — Quick Reference

RequirementKentucky Rule
Usury Limit8% per year (loans under $15k)
Governing LawKy. Rev. Stat. § 360.010
Legal Requirements

Kentucky Legal Requirements

  • Loans under $15,000 must comply with the 8% interest rate ceiling.
Governing Laws

Kentucky Governing Laws

Ky. Rev. Stat. § 360.010
Legal Interest Rate
Caps interest rates for small loans at 8% per year.

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

Questions & Answers

Kentucky Promissory Note — Frequently Asked Questions

What is the usury limit in Kentucky?

The cap is 8% per year for loans under $15,000.