In the state of Pennsylvania maximum lawful rate of interest for the loan or use of money in an amount of $ 50,000 or less, where there is no contract for the same, is six percent (6 %) per annum according to Section 201 of Title 41, Article II.

According to Section 502, any person who pays a rate of interest at a rate in excess of the lawful rate provided under this Section, can recover triple the amount of such excess interest or charges in a suit against the person who has collected it.  Reasonable attorney fees can also be recovered in such actions.

Moreover, any person who knowingly and intentionally violates the provisions regarding lawful rates of interest will be guilty of a misdemeanor of the third degree.  Maximum lawful rate of interest on judgments, pursuant to Section 8101 of Title 42, Chapter 81 of Pennsylvania Statutes is six percent (6 %) per annum.

There are certain exceptions for charging more than the lawfully allowed interest rates.  By the authority of Section 302, the maximum lawful rate of interest prescribed in Section 201 does not apply to any loan insured or guaranteed by the Federal Housing Administration, the Veterans Administration or any other department or agency of the United States Government.  Furthermore, pursuant to Section 301 of Title 41, Article III (Exceptions to Maximum Lawful Interest Rate), business loans in excess of $10,000, unsecured loans, non-collateralized loans in excess of $35,000, any obligation to pay a sum of money in an original bona fide principal amount more than $50,000 are exempted from the usury limits.

41 P.S. § 201

Maximum lawful interest rate
(a) Except as provided in Article III of this act, the maximum lawful rate of interest for the loan or use of money in an amount of fifty thousand dollars ($ 50,000) or less in all cases where no express contract shall have been made for a less rate shall be six per cent per annum.
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41 P.S. § 502

Usury and excess charges recoverable
A person who has paid a rate of interest for the loan or use of money at a rate in excess of that provided for by this act or otherwise by law or has paid charges prohibited or in excess of those allowed by this act or otherwise by law may recover triple the amount of such excess interest or charges in a suit at law against the person who has collected such excess interest or charges: Provided, That no action to recover such excess shall be sustained in any court of this Commonwealth unless the same shall have been commenced within four years from and after the time of such payment. Recovery of triple the amount of such excess interest or charges, but not the actual amount of such excess interest or charges, shall be limited to a four-year period of the contract.

41 P.S. § 503

Reasonable attorney’s fees recoverable
(a) If a borrower or debtor, including but not limited to a residential mortgage debtor, prevails in an action arising under this act, he shall recover the aggregate amount of costs and expenses determined by the court to have been reasonably incurred on his behalf in connection with the prosecution of such action, together with a reasonable amount for attorney’s fee.
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41 P.S. § 505

Penalties
(a) Any person who knowingly and intentionally violates the provisions of this act shall be guilty of a misdemeanor of the third degree.
(b) Any person who violates a provision of this act shall be subject to a fine levied by the department of ten thousand dollars ($ 10,000) per offense.

42 Pa.C.S. § 8101

Interest on judgments
Except as otherwise provided by another statute, a judgment for a specific sum of money shall bear interest at the lawful rate from the date of the verdict or award, or from the date of the judgment, if the judgment is not entered upon a verdict or award.

41 P.S. § 301

Residential mortgage interest rates
(a) The General Assembly hereby finds that it is necessary and appropriate to establish a flexible maximum lawful interest rate for residential mortgages, as defined in this act, and further finds that the Monthly Index of Long Term United States Government Bond Yields is the appropriate basis on which such a maximum rate of interest may be established.
(b) The maximum lawful rate of interest for residential mortgages, as defined in this act, entered into or contracted for during any calendar month shall be equal to the Monthly Index of Long Term United States Government Bond Yields for the second preceding calendar month plus an additional two and one-half per cent per annum rounded off to the nearest quarter of one per cent per annum.
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41 P.S. § 302

Federally guaranteed loans
The maximum lawful rate of interest prescribed in sections 201 and 301 of this act shall not apply to any loan insured or guaranteed in whole or in part by the Federal Housing Administration, the Veterans Administration or any other department or agency of the United States Government: Provided, That any such loan is subject to a maximum rate of interest established by law or by such department or agency.