Does anyone know the maximum interest rate that can be charge on a private loan(non-institutional lenders such as friends and family) to be consider legal malaysia? I've heard of something called Usury Law and in some countries where the lender can only charge a maximum of 20% interest on the loan. Is there something similiar in malaysia?

What are the rate?

No, i do not mean personal loans from banks or any lending institution. It is as mentioned, private loan one which is between friends or family usually.

From my research there is a Moneylenders Act 1951 which caps interest rate on loans given out by moneylenders at 12% per annum for secured loans and 18% per annum for unsecured loans. But i'm not sure the statement's "moneylenders" includes individual lenders or licensed lenders only.