A Guide to Payday Loan Interest Rate by State

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A State by State Guide to Payday Loan Interest Rates

Payday loan Interest rates vary greatly from state to state and may change frequently. Be sure you check your individual state website to review APRs and regulations that apply to you. This is usually displayed in the Secretary of State part of each state website.

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Below is a list of Annual Percentage Rate by states:

State APR %
Alabama 456
Alaska 435
Hawaii 460
Indiana 382
Kansas 391
Kentucky 460
Michigan 369
Mississippi 521
Missouri 443
Nebraska 460
New Hampshire N/A
North Dakota 487
Ohio 677
Oklahoma 395
Rhode Island 261
South Carolina 391
South Dakota N/A
Tennessee 460
Virginia 601
Idaho 652
Illinois 404
Nevada 652
New Mexico 416
Texas 662
Utah 658
Washington 391
Wisconsin 574
Wyoming 261
California 460
Louisiana 391
Minnesota 200
Montana N/A
Colorado 214
Oregon 154

Not every state approves or allows payday loans. These states dictate that only a regulated few can provide short-term loans or prohibit them entirely.

State APR % Max Loan Amount
Arizona N/A Prohibited
Arkansas N/A Prohibited
Connecticut N/A Prohibited
Georgia N/A Prohibited
Maine Only supervised lenders are permitted to cash or advance money on a postdated check
Maryland N/A Prohibited
Massachusetts N/A Prohibited
New Jersey N/A Prohibited
New York N/A Prohibited
North Carolina N/A Prohibited
Pennsylvania N/A Prohibited
Vermont N/A Prohibited
West Virginia N/A Prohibited

The list above covers all 50 U.S. states and their respective APRs. Loan APRs can be changed at any time, and this listing is for informational purposes only.

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Payday Loan Interest Rate by State

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