NC Commissioner of Banks Official Notice
September 13, 2011
Maximum Rate of Interest Permitted on Certain Loans
Per N.C.G.S. §24-1.1 A(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 .lA(e)] is 15% per annum for loans made during October 2011.
Note: Rate is non-competitive rate for U.S. Treasury bills for 26 week maturity as of October 15, 201 1 , (.050%) as published by the
U.S. Treasury Department, September 13, 201 1, plus 6%, rounded or 15%, whichever is greater. Maximum rate has been 15% since
inception - September 1, 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 October 2011.
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. §45-8 1] is 1 6% per annum for loans made during October 2011.
Note: Rate is non-competitive rate for U.S. Treasury bills for 26 week maturity as of October 1 5, 201 1, (.050%) as published by the
U.S. Treasury Department, September 13, 201 1, plus 6%, rounded or 16%, whichever is greater.
Historical Listing
N.C.G.S. §24-1. 1(c) and §24-1. 2(2a) (repealed effective October 1, 1998) Maximum Interest Rates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 -October 31, 2011
16.0
NC Office of the Commissioner of Banks, 316 W. Edenton St., 4309 Mail Sen'ice Center, Raleigh, NC 27699-4309
Telephone (919) 733-3016, Telefax (919) 733-6918 M arch
