Rates & Fees by State
Published state rules for every jurisdiction we cover: caps, fee regimes, terms, and a worked cost example.
The table below reflects published state rules for every jurisdiction this site covers with licensed products: the maximum loan amount, the fee regime, permitted terms, a worked cost example for a minimum-size advance, and the statute and regulator behind each row. APR examples are annualized from short-term fees; they describe the cost of time, not a yearly bill.
What Determines the Cost of a Payday Loan
Four things set the number you actually pay:
- State law. The fee regime column is the ceiling a lender may charge. California limits the fee to 15% of the check; Alabama to 17.5% of the amount.
- Loan structure. A single-cycle advance prices as a flat fee; an installment loan prices as APR across months. Comparing the two takes the annualized number, not the fee.
- Your credit profile. Thin or damaged credit narrows the offers you see and pushes installment pricing toward the top of a lender’s range.
- Term length. A longer term lowers the payment and raises the total cost of credit.
Worked Cost Examples
A $500 single-cycle advance, the most common state ceiling, by fee regime (annualized over a 14-day term):
| Fee regime | Fee | Total due | Annualized |
|---|---|---|---|
| 15% states | $75.00 | $575.00 | about 391% APR |
| 17.5% states (Alabama) | $87.50 | $587.50 | about 456% APR |
| ~17.65% states | $88.25 | $588.25 | about 460% APR |
A $1,300 six-month installment, the standard route above the payday cap, by APR tier:
| APR tier | Monthly payment | Total of payments |
|---|---|---|
| 36% APR | $240 | $1,440 |
| 130% APR | $306 | $1,835 |
Both installment figures come from the standard amortization formula, and many licensed lenders price between those rows. When one paycheck cannot clear the total due, the monthly payment is the number that matters.
For servicemembers and covered dependents, the Military Lending Act caps the cost of covered credit at 36% APR regardless of state.
Prefer to run your own numbers? The loan calculators compute fees, APRs and payments live in your browser.
| State | Max loan | Fee regime | Term | Typical cost | Approx. APR | Source |
|---|---|---|---|---|---|---|
| Alabama | $500 | 17.5% of loan amount ($17.50 per $100) | 10-31 days | $300 costs $352.5 | ~456% | Ala. Code § 5-18A-1 et seq. Alabama State Banking Department |
| Alaska | $500 | 15% of face value + $5 fee | 14-30 days | $300 costs $350 | ~435% | Alaska Stat. § 06.50.010 et seq. Alaska Division of Banking and Securities |
| California | $300 (Max Check Amount) | 15% of face value ($17.65 per $100 advanced) | Max 31 days | $300 costs $345 | ~460% | Cal. Fin. Code § 23000 et seq. California Department of Financial Protection and Innovation |
| Colorado | $500 | 36% APR Cap | 6 months min | $300 costs $308.88 | Max 36% | C.R.S. § 5-3.1-101 et seq. Colorado Department of Law - Consumer Credit Unit |
| Delaware | $1,000 | No fee cap (set by contract) | Max 60 days | $300 costs $345 | ~391% - ~520% | Del. Code tit. 5, § 2227 et seq. Office of the State Bank Commissioner of Delaware |
| Florida | $500 | 10% of loan amount + $5 verification fee | 7-31 days | $300 costs $335 | ~304% | Fla. Stat. § 560.401 et seq. Florida Office of Financial Regulation |
| Hawaii | N/A | 36% APR Cap | N/A | See state page | Max 36% | Haw. Rev. Stat. § 480F-1 et seq. / Act 56 Hawaii Division of Financial Institutions |
| Idaho | $1,000 | No fee cap (set by contract) | Max 31 days | $300 costs $360 | ~521% | Idaho Code § 28-46-401 et seq. Idaho Department of Finance |
| Illinois | N/A | 36% APR Cap | N/A | See state page | Max 36% | 815 ILCS 123/ (Predatory Loan Prevention Act) Illinois Department of Financial and Professional Regulation |
| Indiana | $550 | 15% on first $250, 13% on $250-$400, 10% on $400-$550 | 14-31 days | $300 costs $344 | ~382% | Ind. Code § 24-4.5-7-101 et seq. Indiana Department of Financial Institutions |
| Iowa | $500 | $15 on first $100, plus $10 per additional $100 | Max 31 days | $300 costs $335 | ~304% | Iowa Code Ch. 533D Iowa Division of Banking |
| Kansas | $500 | 15% of cash advance ($15 per $100) | 7-30 days | $300 costs $345 | ~391% | K.S.A. 16a-2-404 Office of the State Bank Commissioner of Kansas |
| Kentucky | $500 | $15 per $100 advanced + $1 database fee | 14-60 days | $300 costs $346 | ~400% | KRS 286.9-010 et seq. Kentucky Department of Financial Institutions |
| Louisiana | $350 | 16.75% of check amount ($16.75 per $100) + $10 documentation fee | Max 30 days | $300 costs $360.25 | ~523% | La. R.S. 9:3578.1 et seq. Louisiana Office of Financial Institutions |
| Maine | N/A | 36% APR Cap | N/A | See state page | Max 36% | Me. Rev. Stat. tit. 9-A, § 2-308 Maine Bureau of Consumer Credit Protection |
| Michigan | $600 | 15% on first $100, 14% on 2nd $100, 13% on 3rd $100, 12% on 4th $100, 11% on 5th & 6th $100 | Max 31 days | $300 costs $342 | ~365% | MCL 487.2121 et seq. (Deferred Presentment Service Transactions Act) Michigan Department of Insurance and Financial Services |
| Minnesota | $350 | 36% APR Cap | Max 30 days | See state page | Max 36% | Minn. Stat. § 47.60 et seq. Minnesota Department of Commerce |
| Mississippi | $500 | $20 per $100 advanced | Max 30 days | $300 costs $360 | ~521% | Miss. Code Ann. § 75-67-501 et seq. (Check Cashers Act) Mississippi Department of Banking and Consumer Finance |
| Missouri | $500 | 75% of initial principal limit for interest/fees combined | 14-31 days | $300 costs $345 | ~443% | Mo. Rev. Stat. § 408.500 et seq. Missouri Division of Finance |
| Montana | N/A | 36% APR Cap | N/A | See state page | Max 36% | Mont. Code Ann. § 32-5-101 et seq. Montana Division of Banking and Financial Institutions |
| Nebraska | $500 | 36% APR Cap | Max 34 days | See state page | Max 36% | Neb. Rev. Stat. § 45-901 et seq. (Initiative 428) Nebraska Department of Banking and Finance |
| Nevada | 25% of gross monthly income | No fee cap (set by contract) | Max 35 days | $300 costs $345 | ~652% | NRS Chapter 604A Nevada Financial Institutions Division |
| New Mexico | $10,000 | 36% APR Cap | 120 days min | See state page | Max 36% | N.M. Stat. Ann. § 58-15-1 et seq. New Mexico Financial Institutions Division |
| North Dakota | $500 | 20% of loan amount ($20 per $100) | Max 60 days | $300 costs $360 | ~521% | N.D. Cent. Code § 13-08-01 et seq. North Dakota Department of Financial Institutions |
| Ohio | $1,000 | 28% APR + $10 monthly fee (36% APR Cap) | 91-365 days | See state page | Max 36% | R.C. § 1321.35 et seq. (Short-Term Loan Act) Ohio Division of Financial Institutions |
| Oklahoma | $500 | $15 per $100 for first $300, $10 per $100 above $300 | 12-45 days | $300 costs $345 | ~391% | Okla. Stat. tit. 59, § 3101 et seq. Oklahoma Department of Consumer Credit |
| Oregon | $500 | 36% APR + 10% loan fee (up to $30) | 31-60 days | $300 costs $339.17 | ~154% | ORS § 725A.010 et seq. Oregon Division of Financial Regulation |
| Rhode Island | $500 | 15% of amount advanced ($15 per $100) | 13 days min | $300 costs $345 | ~391% | R.I. Gen. Laws § 19-14.4-1 et seq. Rhode Island Department of Business Regulation - Banking Division |
| South Carolina | $550 | 15% of face value of check ($15 per $100) | Max 31 days | $300 costs $345 | ~391% | S.C. Code Ann. § 34-39-110 et seq. South Carolina State Board of Financial Institutions |
| South Dakota | $500 | 36% APR Cap | N/A | See state page | Max 36% | S.D. Codified Laws § 54-4-36 et seq. South Dakota Division of Banking |
| Tennessee | $500 | 15% of face value of check ($17.65 per $100 advanced) | Max 31 days | $300 costs $345 | ~459% | Tenn. Code Ann. § 45-17-101 et seq. Tennessee Department of Financial Institutions |
| Texas | No Cap | No state fee cap ($20-$25 per $100 typical CSO fee + 10% interest cap) | 7-180 days | $300 costs $360 | ~400% - ~600% | Tex. Fin. Code Ch. 393 Texas Office of Consumer Credit Commissioner |
| Utah | No Cap | No fee cap (set by contract) | Max 10 weeks for interest accrual | $300 costs $345 | ~521% - ~652% | Utah Code § 7-23-101 et seq. Utah Department of Financial Institutions |
| Virginia | $2,500 | 36% APR + $25 monthly maintenance fee | 120-730 days | See state page | Max 36% | Va. Code Ann. § 6.2-1800 et seq. (Fairness in Lending Act) Virginia State Corporation Commission - Bureau of Financial Institutions |
| Washington | $700 or 30% of gross monthly income | 15% on first $500 ($15 per $100), 10% on amount over $500 | Max 45 days | $300 costs $345 | ~391% | RCW 31.45.010 et seq. Washington State Department of Financial Institutions |
| Wisconsin | $1,500 or 35% of gross monthly income | No fee cap (set by contract) | Max 90 days | $300 costs $360 | ~516% - ~574% | Wis. Stat. § 138.14 Wisconsin Department of Financial Institutions |
| Wyoming | No Cap | Greater of $30 or 20% of principal per month ($20 per $100) | 8-31 days | $300 costs $360 | ~521% | Wyo. Stat. Ann. § 40-14-362 et seq. Wyoming Division of Banking |
How we build this table
Every row is transcribed from the state statute that governs payday lending in that jurisdiction and cross-checked against the regulator that enforces it, linked in the Source column. We do not recompute lender pricing: the fee and cap columns are statutory ceilings, the worked example applies the statute to a minimum-size advance, and the APR column shows that fee annualized over the permitted term.
Rules checked: October 2026 · table maintained by Ray Drummond. Statutes change; if a row ever disagrees with your regulator's current publication, the regulator wins, and we would be grateful if you told us.
Frequently asked questions
Why is the APR on a short-term loan so high?
Because APR annualizes a fee charged for weeks, not years. A $75 fee on a $500 advance is 15% of the amount for one cycle; stretched across a year of 14-day cycles it compounds to roughly 391%. The APR describes the cost of time; the flat fee is what actually leaves your account.
Is the rate in this table what I will pay?
The table lists statutory ceilings: the most a licensed lender may charge. Your lender prices at or below that ceiling, and the exact number appears in the agreement before you sign. An offer above the ceiling for your state deserves a decline and a check of the regulator link in that row.
Where does this data come from?
Each row is transcribed from the governing statute, cited in the table, and cross-checked against the regulator that enforces it. We refresh the table when statutes change and date-stamp the review; the regulator links go to the official source so you can verify any row yourself.
Do all states allow payday lending?
No. This table covers the 37 jurisdictions this site serves with licensed products. Thirteen or so states do not license high-cost payday advances at all, and a few more are excluded by our network policy; their residents see the tribal layer and the alternative routes instead.
What is the cheapest structure this table points to?
Where the cap permits a single-cycle advance, the flat-fee route is the cheapest short bridge. Above roughly $1,000, or whenever one paycheck cannot clear the total due, a credit union Payday Alternative Loan or a licensed installment loan prices lower per dollar. Our alternatives guide ranks every rung by cost.