Rates & Fees by State
Published rules for every jurisdiction covered here: ceilings, fee regimes, permitted terms, and a worked cost example for each row.
The table below reflects published state rules for every jurisdiction this site covers: 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 Sets the Cost of a Payday Loan
Four factors produce the number you actually pay:
- State law. The fee regime column is the ceiling a lender may charge. California, for example, holds the fee to 15% of the check amount, Alabama to 17.5% of the loan amount.
- Loan structure. A single-cycle advance prices as a flat fee; an installment loan prices as APR over months. Comparing them requires 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 monthly 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 state-licensed lenders price between those rows. When one paycheck cannot clear the total due, the monthly payment is the number that matters, not the headline rate.
For servicemembers and their 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.
| State | Typical cost | Max loan | Fee regime | Term | Approx. APR | Source |
|---|---|---|---|---|---|---|
| Alabama | $300 costs $352.5 | $500 | 17.5% of loan amount ($17.50 per $100) | 10-31 days | ~456% | Ala. Code § 5-18A-1 et seq. Alabama State Banking Department |
| Alaska | $300 costs $350 | $500 | 15% of face value + $5 fee | 14-30 days | ~435% | Alaska Stat. § 06.50.010 et seq. Alaska Division of Banking and Securities |
| California | $300 costs $345 | $300 (Max Check Amount) | 15% of face value ($17.65 per $100 advanced) | Max 31 days | ~460% | Cal. Fin. Code § 23000 et seq. California Department of Financial Protection and Innovation |
| Colorado | $300 costs $308.88 | $500 | 36% APR Cap | 6 months min | Max 36% | C.R.S. § 5-3.1-101 et seq. Colorado Department of Law - Consumer Credit Unit |
| Delaware | $300 costs $345 | $1,000 | No fee cap (set by contract) | Max 60 days | ~391% - ~520% | Del. Code tit. 5, § 2227 et seq. Office of the State Bank Commissioner of Delaware |
| Florida | $300 costs $335 | $500 | 10% of loan amount + $5 verification fee | 7-31 days | ~304% | Fla. Stat. § 560.401 et seq. Florida Office of Financial Regulation |
| Hawaii | See state page | N/A | 36% APR Cap | N/A | Max 36% | Haw. Rev. Stat. § 480F-1 et seq. / Act 56 Hawaii Division of Financial Institutions |
| Idaho | $300 costs $360 | $1,000 | No fee cap (set by contract) | Max 31 days | ~521% | Idaho Code § 28-46-401 et seq. Idaho Department of Finance |
| Illinois | See state page | N/A | 36% APR Cap | N/A | Max 36% | 815 ILCS 123/ (Predatory Loan Prevention Act) Illinois Department of Financial and Professional Regulation |
| Indiana | $300 costs $344 | $550 | 15% on first $250, 13% on $250-$400, 10% on $400-$550 | 14-31 days | ~382% | Ind. Code § 24-4.5-7-101 et seq. Indiana Department of Financial Institutions |
| Iowa | $300 costs $335 | $500 | $15 on first $100, plus $10 per additional $100 | Max 31 days | ~304% | Iowa Code Ch. 533D Iowa Division of Banking |
| Kansas | $300 costs $345 | $500 | 15% of cash advance ($15 per $100) | 7-30 days | ~391% | K.S.A. 16a-2-404 Office of the State Bank Commissioner of Kansas |
| Kentucky | $300 costs $346 | $500 | $15 per $100 advanced + $1 database fee | 14-60 days | ~400% | KRS 286.9-010 et seq. Kentucky Department of Financial Institutions |
| Louisiana | $300 costs $360.25 | $350 | 16.75% of check amount ($16.75 per $100) + $10 documentation fee | Max 30 days | ~523% | La. R.S. 9:3578.1 et seq. Louisiana Office of Financial Institutions |
| Maine | See state page | N/A | 36% APR Cap | N/A | Max 36% | Me. Rev. Stat. tit. 9-A, § 2-308 Maine Bureau of Consumer Credit Protection |
| Michigan | $300 costs $342 | $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 | ~365% | MCL 487.2121 et seq. (Deferred Presentment Service Transactions Act) Michigan Department of Insurance and Financial Services |
| Minnesota | See state page | $350 | 36% APR Cap | Max 30 days | Max 36% | Minn. Stat. § 47.60 et seq. Minnesota Department of Commerce |
| Mississippi | $300 costs $360 | $500 | $20 per $100 advanced | Max 30 days | ~521% | Miss. Code Ann. § 75-67-501 et seq. (Check Cashers Act) Mississippi Department of Banking and Consumer Finance |
| Missouri | $300 costs $345 | $500 | 75% of initial principal limit for interest/fees combined | 14-31 days | ~443% | Mo. Rev. Stat. § 408.500 et seq. Missouri Division of Finance |
| Montana | See state page | N/A | 36% APR Cap | N/A | Max 36% | Mont. Code Ann. § 32-5-101 et seq. Montana Division of Banking and Financial Institutions |
| Nebraska | See state page | $500 | 36% APR Cap | Max 34 days | Max 36% | Neb. Rev. Stat. § 45-901 et seq. (Initiative 428) Nebraska Department of Banking and Finance |
| Nevada | $300 costs $345 | 25% of gross monthly income | No fee cap (set by contract) | Max 35 days | ~652% | NRS Chapter 604A Nevada Financial Institutions Division |
| New Hampshire | See state page | N/A | 36% APR Cap | N/A | Max 36% | N.H. Rev. Stat. Ann. § 399-A:1 et seq. New Hampshire Banking Department |
| New Mexico | See state page | $10,000 | 36% APR Cap | 120 days min | Max 36% | N.M. Stat. Ann. § 58-15-1 et seq. New Mexico Financial Institutions Division |
| North Dakota | $300 costs $360 | $500 | 20% of loan amount ($20 per $100) | Max 60 days | ~521% | N.D. Cent. Code § 13-08-01 et seq. North Dakota Department of Financial Institutions |
| Ohio | See state page | $1,000 | 28% APR + $10 monthly fee (36% APR Cap) | 91-365 days | Max 36% | R.C. § 1321.35 et seq. (Short-Term Loan Act) Ohio Division of Financial Institutions |
| Oklahoma | $300 costs $345 | $500 | $15 per $100 for first $300, $10 per $100 above $300 | 12-45 days | ~391% | Okla. Stat. tit. 59, § 3101 et seq. Oklahoma Department of Consumer Credit |
| Oregon | $300 costs $339.17 | $500 | 36% APR + 10% loan fee (up to $30) | 31-60 days | ~154% | ORS § 725A.010 et seq. Oregon Division of Financial Regulation |
| Rhode Island | $300 costs $345 | $500 | 15% of amount advanced ($15 per $100) | 13 days min | ~391% | R.I. Gen. Laws § 19-14.4-1 et seq. Rhode Island Department of Business Regulation - Banking Division |
| South Carolina | $300 costs $345 | $550 | 15% of face value of check ($15 per $100) | Max 31 days | ~391% | S.C. Code Ann. § 34-39-110 et seq. South Carolina State Board of Financial Institutions |
| South Dakota | See state page | $500 | 36% APR Cap | N/A | Max 36% | S.D. Codified Laws § 54-4-36 et seq. South Dakota Division of Banking |
| Tennessee | $300 costs $345 | $500 | 15% of face value of check ($17.65 per $100 advanced) | Max 31 days | ~459% | Tenn. Code Ann. § 45-17-101 et seq. Tennessee Department of Financial Institutions |
| Texas | $300 costs $360 | No Cap | No state fee cap ($20-$25 per $100 typical CSO fee + 10% interest cap) | 7-180 days | ~400% - ~600% | Tex. Fin. Code Ch. 393 Texas Office of Consumer Credit Commissioner |
| Utah | $300 costs $345 | No Cap | No fee cap (set by contract) | Max 10 weeks for interest accrual | ~521% - ~652% | Utah Code § 7-23-101 et seq. Utah Department of Financial Institutions |
| Virginia | See state page | $2,500 | 36% APR + $25 monthly maintenance fee | 120-730 days | Max 36% | Va. Code Ann. § 6.2-1800 et seq. (Fairness in Lending Act) Virginia State Corporation Commission - Bureau of Financial Institutions |
| Washington | $300 costs $345 | $700 or 30% of gross monthly income | 15% on first $500 ($15 per $100), 10% on amount over $500 | Max 45 days | ~391% | RCW 31.45.010 et seq. Washington State Department of Financial Institutions |
| Wisconsin | $300 costs $360 | $1,500 or 35% of gross monthly income | No fee cap (set by contract) | Max 90 days | ~516% - ~574% | Wis. Stat. § 138.14 Wisconsin Department of Financial Institutions |
| Wyoming | $300 costs $360 | No Cap | Greater of $30 or 20% of principal per month ($20 per $100) | 8-31 days | ~521% | Wyo. Stat. Ann. § 40-14-362 et seq. Wyoming Division of Banking |
How this table is built
Each row is transcribed from the statute that governs payday lending in that jurisdiction and cross-checked against the regulator that enforces it, linked in the Source column. Lender pricing is not recomputed here: the fee and cap columns are statutory ceilings, the worked example applies the statute to a minimum-size advance, and the APR column annualizes that fee over the permitted term.
Rules checked: October 2026 · table maintained by Gerald Pratt. Statutes change; if any row disagrees with your regulator's current publication, the regulator wins, and we would appreciate a note from you.
Common questions
Why does the APR on a short-term loan look so high?
Because APR annualizes a fee that is charged for weeks, not years. A $75 fee on a $500 advance is 15% of the amount borrowed for one cycle; stretched across a year of 14-day cycles, that rate 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 the rate I will pay?
The table shows statutory ceilings: the maximum fee a state-licensed lender may charge. Your lender prices at or below that ceiling, and the exact figure appears in your loan agreement before you sign. If an offer exceeds the ceiling for your state, decline it and check the regulator link in that row.
Where does the data come from?
Each row is taken from the governing statute, cited in the table, and cross-checked against the state 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 38 states that license or regulate short-term lending. Thirteen jurisdictions, including New York and Pennsylvania, do not license high-cost payday advances at all; their residents are shown alternative routes instead.
Which structure in this table is cheapest?
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 state-licensed installment loan prices lower per dollar. Our alternatives guide ranks all of them by cost.