Payday loans in Indiana: the rules
Research draft — pending verification against the Indiana Department of Financial Institutions. {{VERIFY}}
Payday lending is legal and regulated in Indiana.
Small loans are legal under Indiana's small loan statute with tiered fee caps.
The numbers at a glance
| Status | Legal |
|---|---|
| Maximum amount | $605 |
| Fee / rate limits | 15% of first $250, tiered down above |
| Term limits | Minimum 14 days |
| Regulator | Indiana Department of Financial Institutions |
All figures are drafts compiled from public sources and must be confirmed with the regulator before relying on them. State legislatures change these rules — see our state law update tracker.
Borrowing here, sensibly
Legal doesn't mean cheap — payday-style credit in Indiana still typically costs triple-digit APRs. Check the cheaper options first, run the numbers in the cost calculator, and if you do borrow, verify the lender's license with the Indiana Department of Financial Institutions and never borrow more than your next paychecks can absorb.
Indiana questions
How much can I borrow in Indiana?
The state's general limit is $605. Individual lenders may offer less depending on your income and history. Draft figure — verify with the Indiana Department of Financial Institutions.
What do payday loans cost in Indiana?
15% of first $250, tiered down above. Terms typically run Minimum 14 days. Your loan agreement must state the exact finance charge and APR before you sign. Draft figures — verify with the Indiana Department of Financial Institutions.
How do I check whether a lender is licensed in Indiana?
Search the Indiana Department of Financial Institutions's license database or call them before you sign anything. Licensed lenders must follow the state's caps and collection rules; unlicensed ones are a major red flag.