It shall be lawful to lend money at six percent per annum or less, to aggregate principal and interest at the date of the loan for the entire period of the loan and to divide the sum of the principal and interest for the entire period of the loan into monthly or other installments.
Alabama Legal Code
Section 8-8-2 - Maximum Rates of Interest - Aggregation of Principal and Interest on Loans at Six Percent and Division into Installments
Source: https://alison.legislature.state.al.us/code-of-alabama?section=8-8-2· Version 2026