NJ · PROM-NOTE · Updated July 2026 · Free
New Jersey Promissory Note
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New Jersey at a glance: Civil Usury Limit: 16% per year · Criminal Usury Limit: 30% per year · Governing Law: N.J. Stat. § 31:1-1
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Overview
Promissory Notes in New Jersey
New Jersey sets the civil usury limit at 16% per year on written agreements. Rates above 30% constitute criminal usury.
Key Facts
New Jersey Promissory Note — Quick Reference
| Requirement | New Jersey Rule |
|---|---|
| Civil Usury Limit | 16% per year |
| Criminal Usury Limit | 30% per year |
| Governing Law | N.J. Stat. § 31:1-1 |
Legal Requirements
New Jersey Legal Requirements
- Interest rate must remain below 16% per year for civil loans.
Governing Laws
New Jersey Governing Laws
Read the full text of these laws at Cornell Law School's New Jersey legal resources or your state legislature's official website.
Questions & Answers
New Jersey Promissory Note — Frequently Asked Questions
What is the usury cap in New Jersey?
The civil cap is 16% per year for personal loans.