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Nevada Promissory Note

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Nevada at a glance: Usury Limit: No limit (if written) · Governing Law: Nev. Rev. Stat. § 99.040

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Overview

Promissory Notes in Nevada

Nevada does not limit interest rates on written agreements. If no interest rate is written in the contract, the default legal rate is the prime rate + 2%.
Key Facts

Nevada Promissory Note — Quick Reference

RequirementNevada Rule
Usury LimitNo limit (if written)
Governing LawNev. Rev. Stat. § 99.040
Legal Requirements

Nevada Legal Requirements

  • Agreement must be in writing to validate any agreed interest rate.
Governing Laws

Nevada Governing Laws

Nev. Rev. Stat. § 99.040
Legal Rate of Interest
Defines default prime-linked interest and allows unlimited written rates.

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

Questions & Answers

Nevada Promissory Note — Frequently Asked Questions

Is there an interest rate limit in Nevada?

No, Nevada has no cap on signed written agreements.