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 New Hampshire, usury laws are codified under RSA 399-A, which governs interest and usury. The legal maximum rate of interest that can be charged in a loan transaction is determined by these statutes. As of the knowledge cutoff date, the general legal rate of interest in New Hampshire is 10% per annum when there is no written contract specifying a different rate. If there is a written agreement, parties may contract for interest at a rate that does not exceed the maximum allowed by law. For loans subject to regulation under the New Hampshire Consumer Credit Protection Act, different rates may apply, and licensed lenders may be able to charge higher rates in accordance with the terms of their license and applicable law. It is important to note that certain transactions, like those involving commercial loans or loans made by federally insured banks, may be exempt from state usury limits due to federal preemption. As with any area of law, usury regulations can be complex and subject to change, so it is advisable to consult with an attorney for the most current advice and to ensure compliance with all applicable laws.