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Payday Loan Laws in Indiana


Loan Term:14 days min.
Loan Amount:$50-$500 ( but may not exceed borrower’s gross income)
Fees and Finance Charges:15% on amounts <$250; 13% $251-$400; 10% $410-$500
Laws:Payday loan lenders have the right to set interest rates and fees at whatever levels they like in Indiana. There are some restrictions set in place, though. The Indiana Small Loan Act allows lenders to charge a flat fee of $33 for loans, as opposed to a 36% charge per year. Expect APR's to run high in this state; around 390% for a 14 day loan!