Home Compliance Topics Loans and Leasing Usury Laws and Exceptions (Alabama/Florida/Georgia)
View/Print All Return

Usury Laws and Exceptions: State Considerations (Florida)

Last Reviewed: December 2019

General Usury rates in the state of Florida are all contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18% per annum simple interest. However, if such loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, then no contract to pay interest thereon is usurious unless the rate of interest exceeds the rate prescribed.

Consumer Credit

The consumer protections afforded in Florida carve out an exception for credit unions and therefore the Chapter does not apply.

Go to main navigation