diff --git a/activemodel/lib/active_model/validations/numericality.rb b/activemodel/lib/active_model/validations/numericality.rb
index aa05673683..440c49c174 100644
--- a/activemodel/lib/active_model/validations/numericality.rb
+++ b/activemodel/lib/active_model/validations/numericality.rb
@@ -22,7 +22,7 @@ module ActiveModel
         end
       end
 
-      def validate_each(record, attr_name, value)
+      def validate_each(record, attr_name, value, precision: Float::DIG)
         came_from_user = :"#{attr_name}_came_from_user?"
 
         if record.respond_to?(came_from_user)
@@ -43,7 +43,7 @@ module ActiveModel
           raw_value = value
         end
 
-        unless is_number?(raw_value)
+        unless is_number?(raw_value, precision)
           record.errors.add(attr_name, :not_a_number, **filtered_options(raw_value))
           return
         end
@@ -53,7 +53,7 @@ module ActiveModel
           return
         end
 
-        value = parse_as_number(raw_value)
+        value = parse_as_number(raw_value, precision)
 
         options.slice(*CHECKS.keys).each do |option, option_value|
           case option
@@ -69,7 +69,7 @@ module ActiveModel
               option_value = record.send(option_value)
             end
 
-            option_value = parse_as_number(option_value)
+            option_value = parse_as_number(option_value, precision)
 
             unless value.send(CHECKS[option], option_value)
               record.errors.add(attr_name, option, **filtered_options(value).merge!(count: option_value))
@@ -79,24 +79,24 @@ module ActiveModel
       end
 
     private
-      def is_number?(raw_value)
-        !parse_as_number(raw_value).nil?
-      rescue ArgumentError, TypeError
-        false
-      end
-
-      def parse_as_number(raw_value)
+      def parse_as_number(raw_value, precision)
         if raw_value.is_a?(Float)
-          raw_value.to_d
+          raw_value.to_d(precision)
         elsif raw_value.is_a?(Numeric)
           raw_value
         elsif is_integer?(raw_value)
           raw_value.to_i
         elsif !is_hexadecimal_literal?(raw_value)
-          Kernel.Float(raw_value).to_d
+          Kernel.Float(raw_value).to_d(precision)
         end
       end
 
+      def is_number?(raw_value, precision)
+        !parse_as_number(raw_value, precision).nil?
+      rescue ArgumentError, TypeError
+        false
+      end
+
       def is_integer?(raw_value)
         INTEGER_REGEX.match?(raw_value.to_s)
       end
@@ -132,7 +132,8 @@ module ActiveModel
       # Validates whether the value of the specified attribute is numeric by
       # trying to convert it to a float with Kernel.Float (if <tt>only_integer</tt>
       # is +false+) or applying it to the regular expression <tt>/\A[\+\-]?\d+\z/</tt>
-      # (if <tt>only_integer</tt> is set to +true+).
+      # (if <tt>only_integer</tt> is set to +true+). Precision of Kernel.Float values
+      # are guaranteed up to 15 digits.
       #
       #   class Person < ActiveRecord::Base
       #     validates_numericality_of :value, on: :create
diff --git a/activerecord/CHANGELOG.md b/activerecord/CHANGELOG.md
index aa953b0d64..5a7a3b6029 100644
--- a/activerecord/CHANGELOG.md
+++ b/activerecord/CHANGELOG.md
@@ -1,3 +1,8 @@
+*   Add `ActiveRecord::Validations::NumericalityValidator` with
+    support for casting floats using a database columns' precision value.
+
+    *Gannon McGibbon*
+
 *   Enforce fresh ETag header after a collection's contents change by adding
     ActiveRecord::Relation#cache_key_with_version. This method will be used by
     ActionController::ConditionalGet to ensure that when collection cache versioning
diff --git a/activerecord/lib/active_record/validations.rb b/activerecord/lib/active_record/validations.rb
index 86bfb661dc..818515b4e0 100644
--- a/activerecord/lib/active_record/validations.rb
+++ b/activerecord/lib/active_record/validations.rb
@@ -91,3 +91,4 @@ require "active_record/validations/uniqueness"
 require "active_record/validations/presence"
 require "active_record/validations/absence"
 require "active_record/validations/length"
+require "active_record/validations/numericality"
diff --git a/activerecord/lib/active_record/validations/numericality.rb b/activerecord/lib/active_record/validations/numericality.rb
new file mode 100644
index 0000000000..0df93fede1
--- /dev/null
+++ b/activerecord/lib/active_record/validations/numericality.rb
@@ -0,0 +1,37 @@
+# frozen_string_literal: true
+
+module ActiveRecord
+  module Validations
+    class NumericalityValidator < ActiveModel::Validations::NumericalityValidator # :nodoc:
+      def initialize(options)
+        super
+        @klass = options[:class]
+      end
+
+      def validate_each(record, attribute, value, precision: nil)
+        precision = column_precision_for(attribute) || Float::DIG
+        super
+      end
+
+      private
+        def column_precision_for(attribute)
+          if @klass < ActiveRecord::Base
+            @klass.type_for_attribute(attribute.to_s)&.precision
+          end
+        end
+    end
+
+    module ClassMethods
+      # Validates whether the value of the specified attribute is numeric by
+      # trying to convert it to a float with Kernel.Float (if <tt>only_integer</tt>
+      # is +false+) or applying it to the regular expression <tt>/\A[\+\-]?\d+\z/</tt>
+      # (if <tt>only_integer</tt> is set to +true+). Kernel.Float precision
+      # defaults to the column's precision value or 15.
+      #
+      # See ActiveModel::Validations::HelperMethods.validates_numericality_of for more information.
+      def validates_numericality_of(*attr_names)
+        validates_with NumericalityValidator, _merge_attributes(attr_names)
+      end
+    end
+  end
+end
diff --git a/activerecord/test/cases/validations/numericality_validation_test.rb b/activerecord/test/cases/validations/numericality_validation_test.rb
new file mode 100644
index 0000000000..8a9a314844
--- /dev/null
+++ b/activerecord/test/cases/validations/numericality_validation_test.rb
@@ -0,0 +1,43 @@
+# frozen_string_literal: true
+
+require "cases/helper"
+require "models/numeric_data"
+
+class NumericalityValidationTest < ActiveRecord::TestCase
+  def setup
+    @model_class = NumericData.dup
+  end
+
+  attr_reader :model_class
+
+  def test_column_with_precision
+    model_class.validates_numericality_of(
+      :bank_balance, equal_to: 10_000_000.12
+    )
+
+    subject = model_class.new(bank_balance: 10_000_000.121)
+
+    assert_predicate subject, :valid?
+  end
+
+  def test_no_column_precision
+    model_class.validates_numericality_of(
+      :decimal_number, equal_to: 1_000_000_000.12345
+    )
+
+    subject = model_class.new(decimal_number: 1_000_000_000.123454)
+
+    assert_predicate subject, :valid?
+  end
+
+  def test_virtual_attribute
+    model_class.attribute(:virtual_decimal_number, :decimal)
+    model_class.validates_numericality_of(
+      :virtual_decimal_number, equal_to: 1_000_000_000.12345
+    )
+
+    subject = model_class.new(virtual_decimal_number: 1_000_000_000.123454)
+
+    assert_predicate subject, :valid?
+  end
+end
diff --git a/activerecord/test/schema/schema.rb b/activerecord/test/schema/schema.rb
index f2f95f3b2c..8a69019b9a 100644
--- a/activerecord/test/schema/schema.rb
+++ b/activerecord/test/schema/schema.rb
@@ -582,6 +582,7 @@ ActiveRecord::Schema.define do
     t.decimal :big_bank_balance, precision: 15, scale: 2
     t.decimal :world_population, precision: 20, scale: 0
     t.decimal :my_house_population, precision: 2, scale: 0
+    t.decimal :decimal_number
     t.decimal :decimal_number_with_default, precision: 3, scale: 2, default: 2.78
     t.float   :temperature
     # Oracle/SQLServer supports precision up to 38
diff --git a/guides/source/active_record_validations.md b/guides/source/active_record_validations.md
index 5c86de964d..992d639e69 100644
--- a/guides/source/active_record_validations.md
+++ b/guides/source/active_record_validations.md
@@ -487,7 +487,7 @@ If you set `:only_integer` to `true`, then it will use the
 ```
 
 regular expression to validate the attribute's value. Otherwise, it will try to
-convert the value to a number using `Float`.
+convert the value to a number using `Float`. `Float`s are casted to `BigDecimal` using the column's precision value or 15.
 
 ```ruby
 class Player < ApplicationRecord