{"data":{"id":"us-me/9-b-m.r.s.-432","jurisdiction":"us-me","citation":"9-B M.R.S. §432","heading":"Interest on loans","body":"1.  Interest absent in writing.  The maximum legal rate of interest on a loan made by a financial institution, in the absence of an agreement in writing establishing a different rate, shall be 6 percent per year.\n2.  Interest: noncommercial or consumer loans.\nA.  The legal rate of interest, whether set forth in writing or not, on a noncommercial or consumer loan, shall be established in accordance with and subject to the limitations set forth in Title 9‑A.\nA loan made by a financial institution which is secured by a first mortgage on real estate shall not be within the interest limitations set forth in Title 9‑A; provided that the security interest in real estate is not given for purpose of evading said Title 9‑A.","path":["TITLE 9-B: FINANCIAL INSTITUTIONS","PART 4: POWERS AND DUTIES OF FINANCIAL INSTITUTIONS","CHAPTER 43: LOANS IN GENERAL"],"source_url":"https://legislature.maine.gov/statutes/9-B/title9-Bsec432.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:24Z","sha256":"d9d8ee4940c1bc379106acf4bb030506fd5c80cfd0fbfff0343deaaf78b8ed4b","source_id":"us-me","stale":false,"prev":"us-me/9-b-m.r.s.-431-a","next":"us-me/9-b-m.r.s.-433"},"notice":"GroundRules: Original legal text. Not legal advice."}