West Virginia maximum interest rate is the answer to “maximum interest rate allowed by law in West Virginia”. This guide gives the West Virginia 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 West Virginia maximum interest rate figures on this page were verified against a dated 50-state compilation and West Virginia sources as of October 2026; the statute named here is where to check them yourself.
West Virginia maximum interest rate at a Glance
| Legal rate when no rate is agreed | 6% per year unless the parties contract otherwise in writing |
| Statute | W. Va. Code 47-6-5 |
In This West Virginia maximum interest rate Guide:
What the West Virginia Maximum Interest Rate Means
Usury means charging more interest than West Virginia law allows. The legal rate only applies when the parties never agreed on a rate in writing. The contract cap is the highest rate a written agreement may set under the general usury law: $8 per $100 per year (8%). Many consumer and mortgage loans fall under separate, higher limits in other statutes.
The West Virginia maximum interest rate Figures
| Rule | Bonus Bank Daily verified figure |
|---|---|
| Legal rate when no rate is agreed | 6% per year unless the parties contract otherwise in writingcompilation / agency — verified Oct 2026 |
| Statute | W. Va. Code 47-6-5compilation / agency — verified Oct 2026 |
The West Virginia maximum interest rate figures on this page were verified against a dated 50-state compilation and West Virginia sources as of October 2026; the statute named here is where to check them yourself.
Who the West Virginia Maximum Interest Rate Applies To
The general 8% cap covers ordinary written loans between private parties and lenders that no other statute exempts. Licensed regulated consumer lenders (finance companies) follow their own tiered limits under W. Va.
Code 46A-4-107: up to 31% a year on loans of $3,500 or less, 27% on loans over $3,500 up to $15,000 or secured by real estate, and 18% on loans over $15,000 (code text current as of August 2026). Banks chartered in other states and national banks generally follow their home-state rules under federal law.
Some nonprecomputed real-estate loans may carry a monthly maximum rate set by the Commissioner of Banking under W. Va. Code 47-6-5b.
Credit Cards and the West Virginia Maximum Interest Rate
Federal law lets a national bank charge the interest rate allowed in the state where it is based, and lets it apply that rate to customers in every state. State-chartered banks from other states have similar federal rights. This is why a card from an out-of-state bank can legally charge more than the West Virginia cap. The West Virginia limit usually does not apply to those cards.
What Happens When a Lender Breaks the West Virginia Maximum Interest Rate
Under W. Va. Code 47-6-6, a usurious contract is void as to all interest. The borrower may also recover four times all the interest agreed to be paid, with a $100 minimum. The lender is presumed to have acted willfully, but an honest error is not a violation if the lender fixes it within 15 days of notice.
Under 47-6-9, a borrower who paid excess interest may sue to get it back. For consumer loans, W. Va. Code 46A-5-101 allows a refund of excess charges plus a penalty of up to $1,000 per violation.
Under 46A-5-103 it is a misdemeanor for a licensed lender to willfully charge more than allowed (fine up to $500, up to one year in jail, or both) or to make regulated consumer loans without a license (fine up to $5,000, up to one year in jail, or both).
How to Check a Loan Against the West Virginia Maximum Interest Rate
1) Find the APR and the finance charge on your loan contract or Truth in Lending disclosure. 2) Note the loan amount, whether the loan is secured by real estate, and whether the lender is a bank, a licensed finance company or a private party. 3) Match the loan to its limit: the general 8% cap, the 46A-4-107 tiers for licensed consumer lenders, or the bank’s home-state rate.
4) Check whether any origination or points fees go beyond the allowed percentage. 5) Confirm with the statute, the Division of Financial Institutions or an attorney.
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Where to Report a Loan Above the West Virginia Maximum Interest Rate
The West Virginia Division of Financial Institutions licenses regulated consumer lenders and handles complaints against them and against state-chartered banks and credit unions (1-800-642-9056). It requires a signed written complaint and does not accept email or fax. Complaints about national banks and other federally supervised lenders can go to the CFPB at consumerfinance.gov/complaint.
Common Mistakes With West Virginia 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 West Virginia maximum interest rate in West Virginia
You do not have to handle this alone or pay to get answers. The West Virginia 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 West Virginia 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 West Virginia maximum interest rate Figures
Every figure in the table above comes from our 50-state data file, built by reading the West Virginia 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 W. Va. Code 47-6-5b, the Commissioner of Banking sets a maximum rate each month for the next month’s nonprecomputed loans secured by a mortgage or deed of trust. The rate equals the prior month’s long-term U.S. government bond yield index plus 1.5%, rounded to the nearest quarter point, and it stays fixed for the life of the loan.
Licensed consumer lenders may add origination or points fees of up to 2% of the amount financed on nonrevolving loans over $3,500, or up to 5% on loans secured by real estate (46A-4-107).
Next rung: the West Virginia payday loan page covers the short-term loans that have their own caps.
West Virginia — the bottom line
- West Virginia 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 West Virginia maximum interest rate cap by license or charter, so check which rule covers your loan.
- If a loan breaks the West Virginia maximum interest rate rules, keep the agreement and report it to the state regulator.
West Virginia Maximum Interest Rate FAQ
What is the maximum interest rate allowed by law in West Virginia?
Without an agreement: 6% per year unless the parties contract otherwise in writing.
Official West Virginia 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
- West Virginia statute / opinion: https://code.wvlegislature.gov/47-6-6/
- West Virginia Division of Financial Institutions – Consumer Complaints: https://dfi.wv.gov/consumer-complaints
- Consumer Financial Protection Bureau: consumerfinance.gov
This West Virginia maximum interest rate guide was last verified against official West Virginia 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.