TN · PROM-NOTE · Updated July 2026 · Free

Tennessee Promissory Note PDF

Not Attorney-ReviewedAuthor: Arjun AnnamalaiMethodology: Statutory Verification

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Tennessee at a glance: Usury Limit: 4% above formula rate · Governing Law: Tenn. Code § 47-14-103

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Overview

Promissory Notes in Tennessee

Tennessee sets the contract interest rate ceiling at 4% above the state formula rate published monthly by the department.
Key Facts

Tennessee Promissory Note — Quick Reference

RequirementTennessee Rule
Usury Limit4% above formula rate
Governing LawTenn. Code § 47-14-103
Legal Requirements

Tennessee Legal Requirements

  • Interest rates must comply with the Tennessee statutory formula rate cap.
Governing Laws

Tennessee Governing Laws

Tenn. Code § 47-14-103
Interest Rates
Outlines the legal interest rate caps and formulas.

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

Questions & Answers

Tennessee Promissory Note — Frequently Asked Questions

What is the interest cap in Tennessee?

The cap is 4% above the monthly state formula rate.