Florida maximum interest rate is the answer to “maximum interest rate allowed by law in Florida”. This guide gives the Florida figures in a dated table, explains in plain words what they mean, walks through the steps, and points to the official forms and free help.
The Florida maximum interest rate figures on this page were verified against a dated 50-state compilation and Florida sources as of October 2026; the statute named here is where to check them yourself.
Florida maximum interest rate at a Glance
| Legal rate when no rate is agreed | 18% per year on obligations up to $500,000 |
| Maximum rate in a written contract | 18% per year (25% on loans over $500,000) |
| Criminal usury threshold | 25% to 45% is civil usury and a misdemeanor; above 45% is criminal usury |
| Statute | Fla. Stat. 687.02, 687.01, 687.071 |
In This Florida maximum interest rate Guide:
What the Florida Maximum Interest Rate Means
Usury means charging more interest than Florida law allows. The legal rate is the default that applies when a debt carries interest but the parties never agreed on a rate. The contract cap is the highest rate a lender may write into a loan agreement. Interest above the cap generally makes the loan usurious.
The Florida maximum interest rate Figures
| Rule | Bonus Bank Daily verified figure |
|---|---|
| Legal rate when no rate is agreed | 18% per year on obligations up to $500,000compilation / agency — verified Oct 2026 |
| Maximum rate in a written contract | 18% per year (25% on loans over $500,000)compilation / agency — verified Oct 2026 |
| Criminal usury threshold | 25% to 45% is civil usury and a misdemeanor; above 45% is criminal usurycompilation / agency — verified Oct 2026 |
| Statute | Fla. Stat. 687.02, 687.01, 687.071compilation / agency — verified Oct 2026 |
The Florida maximum interest rate figures on this page were verified against a dated 50-state compilation and Florida sources as of October 2026; the statute named here is where to check them yourself.
Who the Florida Maximum Interest Rate Applies To
The cap generally applies to private individuals and businesses that lend money or extend credit in Florida. Banks chartered in other states, and national banks, may generally charge the rate their home state allows. Consumer finance companies licensed by the state under Chapter 516 follow their own rate schedule in that chapter. Credit cards from national or out-of-state banks are generally not limited by the Florida cap.
Credit Cards and the Florida Maximum Interest Rate
Most credit cards come from national banks or banks chartered in other states. Federal law (12 U.S.C. § 85) lets those banks charge the interest their home state allows to customers anywhere in the country. That is why a card rate above the Florida cap is usually legal. Confirm with the card agreement or the CFPB.
What Happens When a Lender Breaks the Florida Maximum Interest Rate
Under Florida law, a lender who willfully charges usurious interest generally loses all the interest on the loan, and the borrower may recover double the interest already paid. A lender may be able to cure a violation by refunding the excess and adjusting the loan within a set period. Loans above the criminal threshold are generally unenforceable, and the lender may face criminal charges.
Confirm the details with the statute, the court clerk or an attorney.
How to Check a Loan Against the Florida Maximum Interest Rate
1) Find the APR or annual interest rate in your loan papers or Truth in Lending disclosure. 2) Add fees the lender charged for making the loan, because Florida courts may count them as interest. 3) Turn the total cost into a yearly rate. 4) Check whether the lender is a bank or a state-licensed lender.
5) Compare the yearly rate with the Florida cap shown above, and confirm with the statute or an attorney.
Where to Report a Loan Above the Florida Maximum Interest Rate
The Florida Office of Financial Regulation licenses consumer lenders and takes complaints at flofr.gov. You may also file a complaint with the federal Consumer Financial Protection Bureau at consumerfinance.gov/complaint.
Common Mistakes With Florida maximum interest rate
The most common mistake is missing a deadline: court and creditor deadlines run whether or not you have read the papers, and a missed one usually cannot be undone. The second is relying on an old article or a friend’s experience in another state — the rules on this page differ from state to state and change often, which is why every figure here is dated.
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The third is not keeping copies: every letter, form, receipt and bank statement may matter later, so keep them together and note the date you received each one.
Free Help With Florida maximum interest rate in Florida
You do not have to handle this alone or pay to get answers. The Florida court self-help center explains the forms and the steps, and court clerks can tell you where and how to file, although they cannot give legal advice.
Legal aid organizations represent many people at no cost when income is limited, and the Florida bar’s lawyer referral service can connect you with a lawyer for a low-cost first consultation. The Consumer Financial Protection Bureau accepts complaints about lenders, banks and debt collectors nationwide.
How We Verify the Florida maximum interest rate Figures
Every figure in the table above comes from our 50-state data file, built by reading the Florida statute or an official compilation of it, and each one carries the month we last checked it. Our writers do not change those figures; they explain them. When the law changes, the figure is updated and the date moves.
If something on this page no longer matches the statute, the statute controls — and we want to hear about it.
Under Florida law, a usury claim in most cases requires that the lender knowingly and intentionally charged the excess interest. An honest mistake that the lender corrects may not count as usury. A buyer who acquires a loan in good faith, without notice of the usury, is generally protected.
Next rung: the Florida payday loan page covers the short-term loans that have their own caps.
Florida — the bottom line
- Florida maximum interest rate rules set two numbers — the legal rate and the written-contract cap — both in the table above.
- Many lenders sit outside the Florida maximum interest rate cap by license or charter, so check which rule covers your loan.
- If a loan breaks the Florida maximum interest rate rules, keep the agreement and report it to the state regulator.
Florida Maximum Interest Rate FAQ
What is the maximum interest rate allowed by law in Florida?
Without an agreement: 18% per year on obligations up to $500,000. In a written contract: 18% per year (25% on loans over $500,000).
Is there a criminal usury law in Florida?
25% to 45% is civil usury and a misdemeanor; above 45% is criminal usury
Official Florida Sources & Resources
- Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://www.csbs.org/50-state-survey-consumer-finance-laws
- Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://facts.csbs.org/consumer-finance-law/dev
- Florida statute / opinion: http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0687/0687.html
- Florida Office of Financial Regulation – File a Complaint: https://flofr.gov/sitePages/FileAComplaint.htm
- Consumer Financial Protection Bureau: consumerfinance.gov
This Florida maximum interest rate guide was last verified against official Florida sources in October 2026. Rules change — confirm the current rule with the statute or a licensed attorney.
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Disclaimer: This guide is general information, not legal or financial advice. Bonus Bank Daily is an independent educational resource — not a law firm, not a bank, not a debt collector and not a government agency. Judgment, levy, interest-rate and debt rules change — every figure here carries the date we verified it.
Confirm the current rule with the statute, the court clerk or a licensed attorney in your state before you act.