In New York State, charging interest of more than 16% per year is civil usury . Further, in New York, charging, taking, or receiving interest of 25% or more is criminal usury. Lenders and borrowers frequently ask me what fees or charges count toward New York Usury Law. For private loans made to individuals that do not exceed $250,000, the maximum annual "civil" interest rate is 16%. The maximum "criminal" interest rate is 25%. In New York, charging interest greater than 16 percent annual, but less than, or equal to 24 percent is civil usury. Interest rates of 25 percent or more is criminal usury. Despite the New York usury laws, lenders frequently provide loans at higher rates, often between 350 and 650 percent.