Tennessee Code Annotated

Tenn. Code Ann. § 47-14-103 (2026)

Maximum effective rates generally

✓ current as of May 2026

Find cases: SyfertCases citing this section JustiaTenn. Code CornellLII Search CasesGoogle Scholar

Except as otherwise expressly provided by this chapter or by other statutes, the maximum effective rates of interest are as follows:

(1) For all transactions in which other statutes fix a maximum effective rate of interest for particular categories of creditors, lenders, or transactions, the rate so fixed;

(2) For all written contracts, including obligations issued by or on behalf of the state of Tennessee, any county, municipality, or district in the state, or any agency, authority, branch, bureau, commission, corporation, department, or instrumentality thereof, signed by the party to be charged, and not subject to subdivision (1), the applicable formula rate; and

(3) For all other transactions, ten percent (10%) per annum.

Acts 1979, ch. 203, § 2; 1980, ch. 601, § 26; 1983, ch. 464, § 2.

Notes of Decisions

Cited in 57 cases (11 in the last 5 years), 1968–2025 · leading case: Est. of Ladd v. Marks, 247 S.W.3d 628 (Tenn. Ct. App. 2007).

Sort: Relevance Newest Treatment

Est. of Ladd v. Marks, 247 S.W.3d 628 (Tenn. Ct. App. 2007). · cites it 4× “, interest as an element of, or in the nature of, damages, as permitted by the statutory and common laws of the state as of April 1, 1979, may be awarded by courts or juries in accordance with the principles of equity at any rate not in excess of a maximum effective rate of ten…”

McNeil v. Nofal, 185 S.W.3d 402 (Tenn. Ct. App. 2005). · cites it 3× “— Contracts to which the applicable formula rate provided in § 47-14-103(2) applies may provide for the payment of a fixed rate of interest, a variable rate of interest or any combination of fixed and variable rates in any sequence, subject to the provisions of this section.”

Story v. Lanier, 166 S.W.3d 167 (Tenn. Ct. App. 2004). · cites it 2× “interest as an element of, or in the nature of, damages, as permitted by the statutory and common laws of the state as of April 1,1979, may be awarded by courts or juries in accordance with the principles of equity at any rate not in excess of a maximum effective rate of ten…”

Jaffe v. Bolton, 817 S.W.2d 19 (Tenn. Ct. App. 1991). · cites it 2× “The interest rate which is applicable is the legal rate set forth in T.C.A. § 47-14-103. See State v. Campbell, 721 S.”

Primm v. Foster (In Re Foster), 38 B.R. 639 (Bankr. M.D. Tenn. 1984). · cites it 3× “at any rate not in excess of a maximum effective rate of ten percent (10%) per annum; provided, however, that with respect to contracts subject to § 47-14-103, the maximum effective rate of pre-judgment interest so awarded shall be the same as set by that section for the…”

Sterling v. Velsicol Chem. Corp., 647 F. Supp. 303 (W.D. Tenn. 1986). · cites it 2× “, interest as an element of, or in the nature of, damages, as permitted by the statutory and common laws of the state as of April 1, 1979 may be awarded by courts or juries in accordance with the principles of equity at any rate not in excess of a maximum effective rate of ten…”

Vooys v. Turner, 49 S.W.3d 318 (Tenn. Ct. App. 2001). “§ 47-14-121 computes the interest rate on judgments at 10% per annum, except as may be otherwise provided or permitted by statute, "provided, that where judgment is based on a note, contract, or other *322 writing fixing a rate of interest within the limits provided in §…”

Craig v. Union Cnty. Bank (In Re Crabtree), 48 B.R. 528 (Bankr. E.D. Tenn. 1985). · cites it 2× “203 (current version at Tenn.Code Ann. § 47-14-103 (1984)). Hence, the trustee asserts the debtor’s note is usurious bn its face and unenforceable.”

Inman v. Inman, 840 S.W.2d 927 (Tenn. Ct. App. 1992). “—Interest of judgments, including decrees, shall be computed at the effective rate of ten percent (10%) per annum, except as may be otherwise provided or permitted by statute; provided, however, that where a judgment is based on a note, contract, or other writing fixing a rate…”

Wilson v. Dealy, 434 S.W.2d 835 (Tenn. 1968). · cites it 2× “T.C.A. §§ 47-14-103 defines interest as "* * * the compensation which may be demanded by the lender from the borrower, or the creditor from the debtor, for the use of money.”

Ferguson v. Elec. Power Bd. of Chattanooga, Tenn., 378 F. Supp. 787 (E.D. Tenn. 1974). · cites it 2× “Interest, as limited by Article XI, § 7 of the Tennessee Constitution, is defined by statute as follows: “Interest is the compensation which may be demanded by the lender from the borrower, or the creditor from the debtor, for the use of money.”

Lake Hiwassee Dev. Co. v. Pioneer Bank, 535 S.W.2d 323 (Tenn. 1976). · cites it 2× “T.C.A. §§ 47-14-103, 47-14-104. A loan involving compensation for the use of money must be found to exist as a prerequisite to a finding of usury.”

Show all 57 citing cases →

— Tenn. Code Ann. § 47-14-103(2) — 6 cases

Primm v. Foster (In Re Foster), 38 B.R. 639 (Bankr. M.D. Tenn. 1984). “at any rate not in excess of a maximum effective rate of ten percent (10%) per annum; provided, however, that with respect to contracts subject to § 47-14-103, the maximum effective rate of pre-judgment interest so awarded shall be the same as set by that section for the…”

McNeil v. Nofal, 185 S.W.3d 402 (Tenn. Ct. App. 2005). “— Contracts to which the applicable formula rate provided in § 47-14-103(2) applies may provide for the payment of a fixed rate of interest, a variable rate of interest or any combination of fixed and variable rates in any sequence, subject to the provisions of this section.”

Kelso Oil Co., Inc. v. East West Truck Stop, 102 S.W.3d 655 (Tenn. Ct. App. 2002).

Williams v. Shelby Cnty. Bd. of Educ. (W.D. Tenn. 2021).

Williams v. Shelby Cnty. Bd. of Educ. (W.D. Tenn. 2020).

— Tenn. Code Ann. § 47-14-103(3) — 3 cases

Williams v. Shelby Cnty. Bd. of Educ. (W.D. Tenn. 2021).

Mut. Work Comp Solutions, LLC v. BaronHR, LLC (E.D. Tenn. 2025).

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.