Indiana Payday Loan Laws and Regulations in (IN)

(last updated 01/23/2020)
Payday loans and cash advances are legal in Indiana. The Indiana Department of Financial Institutions has been regulating Payday Loans and Cash Advances since 2002. As of 09/11/2014 there were 37 licensed lenders and 37 licensed locations in Indiana.
The maximum payday loan allowed in Indiana is $550. The maximum payday loan as a percentage of income is 20% of your gross monthly income. The number of loans that can be open at one time is 1 per lender, a total of 2. The maximum permissible fees allowed in Indiana is 15% on loans of $0-$250, 13% on loans of $251-$400, and 10% on loans of $401-$550. The cooling off or waiting period for obtaining another loan is after 6 consecutive loans a mandatory 7 business days. The number of rollovers that are permitted is none. The minimum loan term is 14 days. The maximum loan term is not specified.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Indiana, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Indiana Department of Financial Institutions.
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Indiana. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Indiana Payday Lending Regulator (IN)

Regulating Authority
Indiana Department of Financial Institutions
30 South Meridian Street.
Suite 300
Indianapolis, IN 46204
(317)232-3955, (800)382-4880

Agency for Handling Complaints
Department of Financial Institutions
30 S. Meridian St.
Suite 300
Indianapolis , IN 46204
317-232-3955, 800-382-4880


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Apply for a Payday Loan in IN
Flag of the State of Indiana Paychecks seem to disappear faster than a lap around the Indianapolis Speedway. When all your money is already gone for the month but expenses keep on coming in, a payday loan could save the day.

After a fun morning photographing wolves at Wolf Park, you head into downtown Lafayette to spend your last available $20 on groceries. But you forget to turn off your car’s interior light and by the time you come back out, your old battery is dead. You’re going to have to call for a jump-start, but that will cut into your health insurance premium payment – and you can’t be late on that.

While your car is in the shop, you borrow a friend’s bicycle to get around – but somehow, you manage to crash that, too. Luckily, there’s a repair shop on every corner in Bloomington. Unluckily, you’re completely tapped out and you’re going to have to find a way to pay to fix it – and fast. A cash advance would be just what the bike doctor ordered right now!

Whether you have an emergency room co-pay in Fort Wayne, an unexpected computer repair bill in Terre Haute, or a family of raccoons living in your attic in Evansville, a payday loan could help you cover your expenses and prevent a financial meltdown.

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