New Hampshire State - Payday Loans Information

Payday loans are made by payday loan stores, check cashers, and pawn shops. Some rent-to-own companies also make payday loans. Loans are also marketed via toll-free telephone numbers and over the Internet. All a consumer needs to get a payday loan is an open bank account in relatively good standing, a steady source of income, and identification. Lenders do not conduct a full credit check or ask questions to determine if a borrower can afford to repay the loan.

Legal Status: Prohibited (36% rate cap)

Loan Terms:

Maximum Loan Amount: $500

Loan Term: 7-30 days

Maximum Finance Rate and Fees: 36% annual interest

Finance Charge for 14-day $100 loan: $1.38

APR for 14-day $100 loan: 36%

Debt Limits:

Maximum Number of Outstanding Loans at One Time: One

Rollovers Permitted: None (cannot refinance, renew, extend; borrowers can renew to obtain additional cash but prior loan must be paid in full from proceeds of new loan and marked as such)

Cooling-off Period: 60 days

Repayment Plan: N/A

Collection Limits:

Collection Fees: N/A

Criminal Action: Prohibited

Call for Cash: +1 (855) 462-5019

State Rate & Fee Regulations

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