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Idaho Interest Rates Laws

The rate of interest a lender may legally charge borrowers is dictated by state law, although these limits typically have several exceptions. While most states provide a single percentage limit for interest rates, they often only apply to transactions without a contract -- which could be as complex as signing a mortgage document or as simple as clicking on an online agreement. It's also important to mention the U.S. Supreme Court's 1978 Marquette National Bank v. First of Omaha Corp. ruling that national banks may charge the highest rate allowed in their home state, regardless of where the borrower lives. And even local banks are permitted to "import" higher interest rate limits from other states, such as Delaware.

A Brief Overview of Statutory Interest Rate Limits in Idaho

The state of Idaho imposes a 12 percent limit on interest rates in most cases, although credit cards and other debt products imported from other states may have much higher rates.

The following table lists additional details about interest rate limits in Idaho. See FindLaw's Debt Collection Laws and Personal Finance sections to learn more.

Legal Maximum Rate of Interest

12% unless express contract (§28-22-104), applicable to:

  • Money due by express contract
  • Money after the same becomes due
  • Money lent
  • Money received to the use of another and retained beyond a reasonable time without the owner's consent, express or implied
  • Money due on the settlement of mutual accounts from the date the balance is ascertained
  • Money due upon open accounts after three (3) months from the date of the last item
Penalty for Usury (Unlawful Interest Rate) Plaintiff may recover amount of actual injury (§6-807, 1602)
Interest Rates on Judgments 5.125% plus annual average yield on U.S. Treasury securities as determined by Idaho state treasurer (§28-22-104)
Exceptions -

Note: State laws are subject to change at any time through the enactment of newly signed legislation or voter-approved ballot initiatives, decisions from higher courts, and other means. While we strive to ensure the accuracy of these pages, you may also want to contact an Idaho consumer protection attorney or conduct your own legal research to verify the state law(s) you are researching.

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Idaho Interest Rates Limits: Related Resources

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