Most states have usury laws (usually statutes) governing the amount of interest that can be charged on a loan. Usury laws vary from state to state, but the elements of a usury claim are generally: (1) a loan of money; (2) an absolute obligation to repay the principal; and (3) the exaction of a greater compensation than allowed by law for the use of the money by the borrower.

And interest means compensation for the use, forbearance, or detention of money. The term does not include time price differential, regardless of how it is denominated. The term does not include compensation or other amounts that are determined or stated by law not to constitute interest, or that are permitted to be contracted for, charged, or received in addition to interest in connection with an extension of credit.

Service charges, finance charges, and discount points are generally considered interest for purposes of usury. But contingent or uncertain charges are generally not considered interest.

In Delaware, usury laws are codified under Title 5, Banking, of the Delaware Code. The legal maximum rate of interest that can be charged on a loan is governed by these statutes. As of the current regulations, the legal rate of interest is 5% over the Federal Reserve discount rate including any surcharge as of the time the loan is made. A loan is usurious if it involves an absolute obligation to repay the principal amount along with an interest charge that exceeds the amount permitted by law. In Delaware, certain loans are exempt from these usury limits, including loans made by licensed lenders, banks, savings institutions, and credit unions. Additionally, Delaware law permits parties to agree to higher interest rates in writing. The term 'interest' in Delaware encompasses service charges, finance charges, and discount points, but does not include contingent or uncertain charges. It's important to note that Delaware's usury laws are complex and contain various exceptions and provisions that may apply depending on the specific type of loan and the parties involved. Therefore, individuals and entities dealing with loans and interest rates in Delaware should consult with an attorney to ensure compliance with the applicable laws.