Florida Promissory Note
Florida Promissory Note & Maximum Interest Rate
For a basic personal loan, Florida caps interest at 18% per year (civil, loans ≤ $500,000).
Interest rate limits in Florida
For loans of $500,000 or less, Florida sets the civil usury limit at 18% per year — interest above that can be challenged and may be forfeited.
Interest above 25% (up to 45%) can trigger misdemeanor criminal usury charges, and above 45% becomes a felony.
This guidance is scoped to a basic personal note; larger loans and licensed-lender transactions follow different rules.
Reference: Florida Statutes Chapter 687. This is general educational information scoped to a basic personal loan between individuals — not legal advice. Usury law has many exceptions (banks, licensed lenders, business loans, and loan size thresholds). Confirm current Florida law and any applicable exceptions before relying on a rate.
Florida key points
- 18% per year civil usury cap for loans of $500,000 or less.
- Above 25% per year risks criminal usury exposure; above 45% is a felony-level violation.
- Loans over $500,000 follow a different (25%) civil ceiling.
How to create your Florida promissory note
- 1. Open the iRunDocs promissory note generator with Florida selected.
- 2. Enter the lender, borrower, principal amount, and repayment terms.
- 3. Set an interest rate within Florida's limits above, or leave it interest-free.
- 4. Review the PDF preview, download, sign, and keep a copy with your records.
Frequently asked questions
What is the maximum interest rate for a personal loan in Florida?
18% per year for loans of $500,000 or less, under Florida Statutes Chapter 687. Loans over $500,000 follow a 25% civil ceiling.
What happens if a Florida loan exceeds 25% interest?
Rates above 25% (up to 45%) can trigger misdemeanor criminal usury charges; above 45% is a felony.
Can a lender collect interest above Florida's usury cap?
Generally no — civil usury violations can result in forfeiture of the interest charged, leaving only the principal enforceable.
Interest rate limits in other states
iRunDocs provides document tools and educational information. It is not a law firm and does not provide legal advice.