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 I plan to loan an individual a sum of money. What is the allowable interest rate I can charge in New York State?
 As a general rule, for loans up to $250,000, the maximum allowable interest rate is 16%. In general, permissible rates increase for loans greater than that amount, as set forth in Title 5 of the New York State General Obligations Law. Other exceptions, permitting rates in excess of 16% per annum, apply to loans made by regulated lenders.
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The New York State Consolidated Laws
The New York State Banking Laws, Article II, Section 14-A
URL: http://assembly.state.ny.us/cgi-bin/claws?law=9&art=3
Contact: Consumer Representative
Phone: 18005223330
or Fax: 2126186440
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