Maine maximum interest rate is the answer to “maximum interest rate allowed by law in Maine”. This guide gives the Maine 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 Maine maximum interest rate figures on this page were verified against a dated 50-state compilation and Maine sources as of October 2026; the statute named here is where to check them yourself.
Maine maximum interest rate at a Glance
| Legal rate when no rate is agreed | 6% per year unless otherwise agreed |
| Statute | 9-B M.R.S. 432 |
In This Maine maximum interest rate Guide:
What the Maine Maximum Interest Rate Means
Usury means charging more interest than the law allows. In Maine, the legal rate is only a default for loans from financial institutions when no written agreement sets a different rate. It is not a ceiling on every loan. For consumer and noncommercial loans, the real limits on what a lender can charge are in the Maine Consumer Credit Code (Title 9-A), not the legal-rate statute.
The Maine maximum interest rate Figures
| Rule | Bonus Bank Daily verified figure |
|---|---|
| Legal rate when no rate is agreed | 6% per year unless otherwise agreedcompilation / agency — verified Oct 2026 |
| Statute | 9-B M.R.S. 432compilation / agency — verified Oct 2026 |
The Maine maximum interest rate figures on this page were verified against a dated 50-state compilation and Maine sources as of October 2026; the statute named here is where to check them yourself.
Who the Maine Maximum Interest Rate Applies To
Consumer loans made in Maine, including loans from licensed “supervised lenders” such as finance and installment lenders, are generally subject to the Title 9-A finance-charge limits in 9-A M.R.S. §2-401.
Under its current posted text, the finance charge on a closed-end consumer loan is capped at 30% a year on the unpaid balance up to $2,000, 24% on the part from $2,000 to $4,000, and 18% on the part above $4,000. Loans where the amount financed is over $8,000 are capped at 18% a year on the whole amount.
Banks chartered in other states and national banks can usually charge the rates allowed by their home state. Credit cards (open-end credit) are not covered by these closed-end loan tiers.
Credit Cards and the Maine Maximum Interest Rate
Federal law lets a national bank charge the interest rate allowed in the state where the bank is based, and it can apply that rate to cardholders anywhere, including Maine. Many card issuers are based in states with high or no rate limits. So a card rate above Maine’s consumer-loan caps is usually legal.
What Happens When a Lender Breaks the Maine Maximum Interest Rate
If a creditor charges more than Title 9-A allows, the borrower may recover the excess from the creditor, or from a buyer of the debt that collects directly. If the creditor refuses a refund within a reasonable time after demand, a court may also award a penalty of $250 to $1,000 (9-A M.R.S. §5-201).
If a lender makes supervised loans without a Maine license, the borrower generally does not have to pay the application fees, prepaid finance charges, closing costs or the first 12 months of finance charges (9-A M.R.S. §9-405). Willful, knowing violations can be punished by a fine of up to $2,500 per offense, up to 6 months in jail, or both (9-A M.R.S. §5-301).
Deadlines for these claims are short, so confirm with the statute or an attorney.
How to Check a Loan Against the Maine Maximum Interest Rate
1) Find the APR and amount financed on your Truth in Lending disclosure or loan contract. 2) Check whether the loan is a consumer loan (personal, family or household) or a business loan, and whether it is open-end credit like a card. 3) For a closed-end consumer loan, compare the APR with the §2-401 tiers for your loan amount.
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4) Check whether the lender is licensed with the Maine Bureau of Consumer Credit Protection. 5) Confirm with the statute, the Bureau or an attorney.
Where to Report a Loan Above the Maine Maximum Interest Rate
The Maine Bureau of Consumer Credit Protection licenses supervised lenders and takes complaints online, by phone (800-332-8529 in Maine, or 207-624-8527), or by mail to 35 State House Station, Augusta, ME 04333. You may also file with the federal Consumer Financial Protection Bureau at consumerfinance.gov/complaint.
Common Mistakes With Maine 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.
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 Maine maximum interest rate in Maine
You do not have to handle this alone or pay to get answers. The Maine 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 Maine 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 Maine maximum interest rate Figures
Every figure in the table above comes from our 50-state data file, built by reading the Maine 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.
Next rung: the Maine payday loan page covers the short-term loans that have their own caps.
Maine — the bottom line
- Maine 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 Maine maximum interest rate cap by license or charter, so check which rule covers your loan.
- If a loan breaks the Maine maximum interest rate rules, keep the agreement and report it to the state regulator.
Maine Maximum Interest Rate FAQ
What is the maximum interest rate allowed by law in Maine?
Without an agreement: 6% per year unless otherwise agreed.
Official Maine 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
- Maine statute / opinion: https://legislature.maine.gov/statutes/9-A/title9-Asec2-401.html
- Maine Bureau of Consumer Credit Protection – File a Complaint: https://www.maine.gov/pfr/consumercredit/complaint.htm
- Consumer Financial Protection Bureau: consumerfinance.gov
This Maine maximum interest rate guide was last verified against official Maine 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.