Rates and fees are determined by different states, it depend upon in which state you live. This table lists the state, the maximum loan amount and the regulations in that state.
|Alabama||$500||Interest cannot exceed 17.5%|
|Alaska||$500||Finance charges cannot exceed $5 and interest cannot exceed 15%|
|Arkansas||$400||Finance charges may not exceed $10 and interest may not exceed 10%.|
|California||$300||Late charges cannot exceed 15% of the loan amount.|
|Colorado||$500||Lenders can charge a fee of 20% on loans of up to $300 and 7.5% on loans greater than $300. Interest may not exceed 45%|
|District of Columbia||N/A||N/A|
|Florida||$500||Finance charges may not exceed 10%.|
|Hawaii||$600||Interest may not exceed 15%.|
|Illinois||$1000||The loan maximum is $500 or 25% of the borrower’s gross income, whichever is less.
Interest may not exceed 15.5%.
|Indiana||$550||Minimum loan amount is $50.
Lenders may charge no more than 15% interest on the first $250, 13% on amounts between $251 and $400, an 10% on amounts between $401 and $550.
|Iowa||$500||Lenders may not charge more than 15% on the first $100 of the loan or more than 10% on each consecutive $100.|
|Kansas||$500||Lenders may not charge more than 15% interest and an additional 3% per month after the loan maturity date. No additional charges are allowed with the exception of returned check fees.|
|Kentucky||$500||Consumers may not have more than two outstanding short term loans at any given time, and the total of both loans cannot exceed $500.
Interest may not exceed 15%.
|Louisiana||$350||Interest may not exceed 16.75%.|
|Michigan||$600||Service charges cannot go beyond 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100.|
|Minnesota||$350||Lenders may impose a $5.50 charge of loans up to and including $50. They may charge 10% of the loan amount as well as a $5 service fee on amounts between $51 and $100. They may charge 7% and a $5 service fee on amounts between $101 and $250. They may charge 6% and a $5 service fee on amounts between $251 and $300. Lenders may not charge more than 2.75% as late fees.|
|Mississippi||$400||Fees may not exceed 3% of the amount of the loan or $5, whichever is greater.
Lenders may not charge more than 18% of the loan amount as interest.
|Missouri||$500||Collective fees and interest may not exceed 75% of the loan amount at any time.|
|Montana||N/A||Loans have a $50 minimum cost and a $300 maximum cost. Interest and fees may not exceed 36% per annum including fees for nonsufficient funds.|
|Nebraska||$500||Interest may not exceed 15%.|
|Nevada||N/A||Interest may not exceed 15%.|
|New Hampshire||$500||Fees may not exceed 6% and interest may not exceed 36% per year.|
|New Mexico||N/A||Loan amount plus fees may not exceed 25% of the borrower’s gross monthly income. Interest cannot exceed 15.59% and processing fees or new loans cannot exceed $50. Fees for insufficient funds cannot exceed $15.|
|North Dakota||$500||Lenders may not charge more than 20%|
|Ohio||$500||Interest may not exceed 28%.|
|Oklahoma||$500||Lenders may not charge more than 15% for the first $300 of any loan or more than 10% for loans greater than $300.|
|Oregon||None||Lenders cannot charge more than 36% interest. Service charges cannot exceed 10% of the loan or $30, whichever is less.|
|Rhode Island||$500||Lenders may not charge more than 10% interest.|
|South Carolina||$550||Lenders may not charge more than 15% interest.|
|Tennessee||N/A||Lenders may not charge more than 15% interest.|
|Virginia||$500||Lenders cannot charge more than 20% as interest and verification fees must not exceed $5.|
|Washington||$700||Loans cannot exceed 30% of the borrower’s gross monthly income. Interest charges cannot exceed 15% on loans of up to $500. Interest charges cannot exceed 10% on loan amounts greater than $500.|
|Wisconsin||None||There are no regulations that control interest, but lenders may not penalize borrowers for repaying their debts early.|
|Wyoming||None||Finance charges shall not exceed either $30 or 20% a month.|