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Interest Rate Restriction Act

e-Gov Laws and Regulations Search (Act No. 100, Shōwa 29)

Claims Supported by This Source

  1. Article 1: The maximum interest rate is 20% per annum for a principal of less than 100,000 yen, 18% per annum for a principal of 100,000 yen or more but less than 1,000,000 yen, and 15% per annum for a principal of 1,000,000 yen or more. Any portion exceeding these limits is void.
  2. Article 3: Any money other than the principal received by the creditor, regardless of its name, such as gratuities, discounts, fees, or investigation charges, shall be deemed to be interest (excluding costs for concluding the contract and for performance).
  3. Article 4: Any agreement for liquidated damages for non-performance is void to the extent that it exceeds 1.46 times the rates in Article 1. A penalty shall be presumed to be liquidated damages.

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