Delaware Code

6 Del. C. § 2301 (2026)

Legal rate; loans insured by Federal Housing Administration

✓ current as of May 2026

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(a) Any lender may charge and collect from a borrower interest at any rate agreed upon in writing not in excess of 5% over the Federal Reserve discount rate including any surcharge thereon. Where there is no expressed contract rate, the legal rate of interest shall be 5% over the Federal Reserve discount rate including any surcharge as of the time from which interest is due; provided, that where the time from which interest is due predates April 18, 1980, the legal rate shall remain as it was at such time. Except as otherwise provided in this Code, any judgment entered on agreements governed by this subsection, whether the contract rate is expressed or not, shall, from the date of the judgment, bear post-judgment interest of 5% over the Federal Reserve discount rate including any surcharge thereon or the contract rate, whichever is less.

(b) If the rate of interest specifically set forth in any bond, note or other evidence of indebtedness, exclusive of other charges, fees or discounts authorized or permitted under federal law or under any rule or regulation promulgated pursuant thereto, does not exceed the lawful rate prescribed in subsection (a) of this section, no person shall, by way of defense or otherwise, avail himself or herself of any of the provisions of this chapter, to avoid or defeat the payment of any interest or any such charges, fees or discounts, which any such person shall have contracted to pay in respect of any loan insured by the Federal Housing Administration, or the Commissioner thereof, under or pursuant to the provisions of the National Housing Act [12 U.S.C. § 1701 et seq.], approved June 27, 1934, and amendments thereto, or guaranteed by the Veterans Administration, or the administrator thereof, under and pursuant to Title 38 of the United States Code [38 U.S.C. § 3701 et seq.], and amendments thereto; nor shall anything contained in this chapter be construed to prevent recovery of any such interest or any such charges, fees or discounts from any person who shall have contracted to pay the same.

(c) Notwithstanding any other provision in this chapter to the contrary, there shall be no limitation on the rate of interest which may be legally charged for the loan or use of money, where the amount of money loaned or used exceeds $100,000, and where repayment thereof is not secured by a mortgage against the principal residence of any borrower.

(d) In any tort action for compensatory damages in the Superior Court or the Court of Common Pleas seeking monetary relief for bodily injuries, death or property damage, interest shall be added to any final judgment entered for damages awarded, calculated at the rate established in subsection (a) of this section, commencing from the date of injury, provided that prior to trial the plaintiff had extended to defendant a written settlement demand valid for a minimum of 30 days in an amount less than the amount of damages upon which the judgment was entered.

Code 1852, § 1160; 16 Del. Laws, c. 310, § 1; Code 1915, § 2621; 28 Del. Laws, c. 213; Code 1935, § 3101; 6 Del. C. 1953, § 2301; 52 Del. Laws, c. 277; 56 Del. Laws, c. 288, §§ 1-4; 57 Del. Laws, c. 78, § 1; 57 Del. Laws, c. 311; 59 Del. Laws, c. 439, § 1; 59 Del. Laws, c. 589, § 1; 62 Del. Laws, c. 228, § 7; 62 Del. Laws, c. 239, § 1; 70 Del. Laws, c. 186, § 1; 72 Del. Laws, c. 443, § 1; 78 Del. Laws, c. 222, §§ 1, 2;

Notes of Decisions

Cited in 134 cases (76 in the last 5 years), 1954–2026 · leading case: Rollins Env't Servs., Inc. v. WSMW Indus., Inc., 426 A.2d 1363 (Del. Super. Ct. 1980).

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Rollins Env't Servs., Inc. v. WSMW Indus., Inc., 426 A.2d 1363 (Del. Super. Ct. 1980). “Company, supra, 6 Del.C. § 2301 was amended by two bills enacted by the 130th General Assembly, namely, House Bill 845, 62 Del.”

John K. McNally Jr. v. Nationwide Ins. Co., 815 F.2d 254 (3rd Cir. 1987). “The court in Church Home, however, appeared to be simply construing § 2301: Vice Chancellor Longobardi based his analysis on “the established legal rate as found in 6 Del.C. § 2301.” LEXIS Slip op. at 2. An even later opinion by the Delaware Superior Court, Uhde v.”

Enzo Life Sciences, Inc. v. Adipogen Corp., 82 F. Supp. 3d 568 (D. Del. 2015). ““When the contract does not specify an interest rate, 6 Del. Code § 2301(a) states that, ‘the legal rate of interest shall be 5% over the Federal Reserve discount rate including any surcharge as of the time from which interest is due.”

Acierno v. Worthy Bros. Pipeline Corp., 656 A.2d 1085 (Del. 1995). “6 Del.C. § 2301(a). The office conference was attended by the attorneys for the parties in the presence of the court reporter.”

Haft v. Dart Grp. Corp., 877 F. Supp. 896 (D. Del. 1995). “; 6 Del.C. § 2301(a); Miller v. Newsweek, Inc.”

L'Arbalete, Inc. v. Zaczac, 474 F. Supp. 2d 1314 (S.D. Fla. 2007). “6 Del.Code § 2301(c) (2006) provides that "there shall be no limitation on the rate of interest which may be legally charged for the loan or use of money, where the amount of money loaned or used exceeds $100,000 and where the repayment thereof is not secured by a mortgage…”

Montgomery v. Aetna Plywood, Inc., 39 F. Supp. 2d 915 (N.D. Ill. 1998). “June 12, 1996); 6 Del.C. § 2301(a). Therefore, only ERISA law is considered for purposes of determining an appropriate rate of prejudgment interest.”

Bank One Delaware N.A. v. Mitchell, 70 Pa. D. & C.4th 353 (2005). “” Submitted for the convenience of the tribunal is a true and correct copy of the relevant statute, 6 Del. C. §2301, appended hereto as exhibit “A”, [not published herein] (4) This account was declared as a bad debt on March 31,2002, at which point it was 210 days delinquent.”

Pedrick v. Roten, 70 F. Supp. 3d 638 (D. Del. 2014). “A plaintiff is entitled to recover prejudgment interest for a breach of contract claim, pursuant to 6 Del. C. § 2301. See Brandywine Smyrna, Inc.”

Saudi Am. Bank v. Shaw Grp., Inc. (In Re Stone & Webster, Inc.), 354 B.R. 686 (D. Del. 2006). “6 Del. Code § 2301 (2006); See U.S. v. Star Brite Construction Co.”

MacLary v. Pleasant Hills, 109 A.2d 830 (Del. Ch. 1954). “See 6 Del.C. § 2301 and National Lock Co. v. Hogland, 7 Cir.”

United States ex rel. Endicott Enter. Inc. v. Star Brite Constr. Co., 848 F. Supp. 1161 (D. Del. 1994). · cites it 5× “Eneo is entitled to a total of $43,002.00.”

Show all 134 citing cases →

— 6 Del. C. § 2301(A) — 1 case

Partner Reinsurance Co. Ltd. v.RPM Mortg., Inc.et al (S.D.N.Y. 2022).

— 6 Del. C. § 2301(a) — 68 cases

Haft v. Dart Grp. Corp., 877 F. Supp. 896 (D. Del. 1995). “; 6 Del.C. § 2301(a); Miller v. Newsweek, Inc.”

United States ex rel. Endicott Enter. Inc. v. Star Brite Constr. Co., 848 F. Supp. 1161 (D. Del. 1994). “Eneo is entitled to a total of $43,002.00.”

— 6 Del. C. § 2301(c) — 5 cases

Noranda Aluminum Holding Corp. v. XL Ins. Am., Inc. (Del. 2021).

EMA Fin., LLC v. AppTech Corp. (S.D.N.Y. 2022).

Sequoia Presidential Yacht Grp. LLC v. FE Partners, LLC (Del. Ch. 2014).

Delaware Technical & Cmty. Coll. (Del. 2015).

— 6 Del. C. § 2301(d) — 20 cases

Salt Meadows Homeowners Ass'n, Inc. v. Zonko Builders, Inc. (Del. Super. Ct. 2023).

Truitt v. Winder (Del. Super. Ct. 2026).

Bishop v. Progressive Direct Ins. Co. (Del. Super. Ct. 2019).

Permint v. Kia Motors Am., Inc. (Del. Super. Ct. 2022).

Halaszi v. Wal-Mart Stores East LP (Del. Super. Ct. 2023).

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