Loading...Download the Alabama promissory note template that may be written to be secured or unsecured to allow a person to borrow, the ‘borrower’, money from someone else, the ‘lender’.
Usury Rate
In accordance with the State’s usury rate (Section 8-8-1.1) the maximum interest rate a lender can charge is, except by written contract, $6 upon $100 for one year, and the rate of interest by written contract is not to exceed $8 upon $100 for one year and at that rate for a greater or less sum or for a longer or shorter time.