Indiana Payday Loans

The best way to obtain Indiana payday loans is by arming yourself with information regarding short-term borrowing laws in the state. With this information on hand, you can be sure to find legitimate lenders, letting you get the most out of your loan. This is exactly what aims to provide as this page offers a comprehensive guide on Indiana cash loans. Currently one of the states legalizing the transaction, Indiana has set up several laws to ensure fairness among lenders and borrowers of the industry.

Indiana Pay day Loan Process

Payday loans are legally binding transactions that must meet the minimum requirement of the state. For this reason, borrowers must fall within the stated conditions before they are considered for the short-term loan.

  • Age at 18 years old and above
  • With existing checking or savings account
  • Proof of citizenship and residency in Indiana
  • Proof of employment
  • Must meet minimum monthly salary requirements


Some of the requirements may be variable, depending on the specific rules set up by the lender. For example, some people can borrow funds even if they are already in retirement and simply waiting for their check. Typically, minimum salary requirements also vary from $800 to $1000, therefore allowing you to choose the lender that best fits your needs.

Payday Loan Laws and Regulations in Indiana

All payday loans in the state of Indiana are subject to the following requirements and limitations.

  • Maximum Loan Amount: 20% of monthly income or $550, whichever is lower
  • Loan Term: 14 days minimum
  • Finance charge for $100 in 14 days: $15
  • APR for $100 loan in 14 days: 390%
  • Maximum finance rate and fees: 15% for maximum of $250; 13% for $251 to $400 and 10% for $401 to $500.
  • Maximum number of outstanding loans at a time: Two, must be different lenders
  • Collection fees: $25 NSF fee

Borrowers are not allowed to rollover their loan, refinance it or even consolidate the amount. However, borrowers that find themselves obtaining 3 consecutive loans are given extended payment period to help them recuperate. Indiana law states that the payment plan must be done through four installments without adding to the payable amount. To further prevent borrowers from relying heavily on lenders, a cooling-off period of 7 days is enforced after using 6 consecutive loans.

Indiana Consumer Protection

If you feel the need for information not provided on this site, you can always go directly to Indiana’s payday loan regulating body. Currently, the Indiana Department of Financial Institutions is the sector that deals with short-term loans within the state.

Address: 30 South Meridian Street, Suite 300 Indianapolis IN 46204

Phone: (800) 382-4880

Look for: Mark Tapey, Supervisor for the Consumer Credit


The regulating board is also open for questions and complaints through the internet. As a consumer, we encourages you to find out as much as you can about Indiana payday loan laws before pursuing a transaction.

Indiana Payday Loan Alternatives

As an alternative to payday loans, Indiana residents can also borrow directly from their friends and family. Employees can also go directly to their boss for an advance to their salary. If you have unused items, pawning the product or directly selling it might provide enough funds. Credit cards and bank loans also have low interests rates that can be paid on an installment basis.

Payday Loans cities in Indiana:
Albion Anderson Angola
Auburn Avon Bedford
Bloomfield Bloomington Bluffton
Boonville Brazil Brownstown
Carmel Clarksville Columbia City
Columbus Connersville Corydon
Crawfordsville Crown Point Decatur
Elkhart Ellettsville Evansville
Fort Branch Fort Wayne Frankfort
Franklin Goshen Granger
Greencastle Greensburg Greenwood
Hammond Hobart Hope
Huntertown Huntington Indianapolis
Jasper Jeffersonville Kendallville
Knox Kokomo La Porte
Lafayette Lapaz Lawrenceburg
Lebanon Logansport Loogootee
Lynn Madison Marion
Martinsville Merrillville Michigan City
Milan Mishawaka Mitchell
Monticello Muncie Nappanee
New Albany New Castle New Haven
Newburgh Noblesville North Manchester
North Vernon Odon Osceola
Osgood Peru Petersburg
Plainfield Plymouth Portage
Portland Princeton Richmond
Rochester Rockport Saint John
Salem Scottsburg Seymour
Shelbyville South Bend Tell City
Terre Haute Thorntown Valparaiso
Versailles Vincennes Wabash
Walkerton Warsaw Washington
Winamac Winslow  

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