NCCOB


NC Commissioner of Banks Official Notice


November 15, 2017

Maximum Rate of Interest on Certain Loans

Per N.C.G.S. §24-1.1A(a)(4), the Commissioner of Banks hereby announces and publishes that the maximum rate of interest permitted on certain home loans [as defined by N.C.G.S. §24-1.1A(e)] is 15% per anum for loans made during the following calendar month. The maximum rate has been 15% since 1987.

Per N.C.G.S. §24-1.1(c), the Commissioner of Banks hereby announces and publishes that the maximum rate of interest on certain loans of $25,000 or less [as defined by N.C.G.S. §24-1.1(a)(1)] is 16% per annum for loans made during the following calendar month. The maximum rate has been 16% since 1984.

Per N.C.G.S. §24-1.2A(a), the Commissioner of Banks hereby announces and publishes that the maximum rate of interest on certain equity lines of credit [as defined by N.C.G.S. §45-81] is 16% per annum for loans made during the following calendar month.

Historical Listing
N.C.G.S. §24-1.1(c) Maximum Interest Rates

Period Rate of
Interest
June 7 - June 30, 1981 21.5
July 1 - July 31, 1981 19.5
August 1 - August 31, 1981 20.0
September 1- September 30, 1981 21.0
October 1 - October 31, 1981 20.5
November 1 - November 30, 1981 19.5
December 1 - January 31, 1982 17.5
February 1 - February 28, 1982 19.0
March 1 - March 31, 1982 20.0
April 1- May 31, 1982 19.0
July 1 - July 31, 1982 18.5
August 1 - August 31, 1982 18.0
September 1 - September 30, 1982 17.0
October 1 - May 31, 1984 16.0
June 1 - October 31, 1984 16.5
Nov 1, 1984 – Present 16.0
NC Office of the Commissioner of Banks, 316 W. Edenton St., 4309 Mail Service Center, Raleigh, NC 27699-4309
Telephone (919) 733-3016, Telefax (919) 733-6918