What Iowa law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3] | AllowedHigh-cost loan | Fee cap | Up to $500 | Up to 31 days | Delayed Deposit Services license | Iowa Code ch. 533D |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
The rules in full
Payday loans
- Rate cap
- Iowa's Delayed Deposit Services Act (ch. 533D) does not impose a numeric APR cap; instead it caps fees: a flat fee of $15 per $100 for the first $100 advanced, and $10 per $100 (pro rata) for each additional $100 or portion thereof.
- Fees
- $15 per first $100 advanced; $10 per additional $100 increment (pro rata), no other fees beyond what ch. 533D authorizes.
- License
- Delayed Deposit Services license under Iowa Code ch. 533D, issued by the Iowa Division of Banking (Superintendent of Banking).
Full detail for every loan type: Iowa lending laws.
Help in Iowa
Rent and jobs in Iowa
Typical rent and the jobless rate, to weigh before a loan payment.
Other options in Iowa
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
- Nonprofit credit counseling through the National Foundation for Credit Counseling.
- A payment plan from the company you owe, if you ask before you miss a payment.
- 211 for help with rent, utilities and food: call 211 or visit 211.org.
Other loan types allowed in Iowa
Payday loans in nearby states
Sources
- Justia. Iowa Code ch. 533D. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/iowa/title-xiii/chapter-533d/section-533d-3. Retrieved September 23, 2026.
- idob.iowa.gov. Iowa Division of Banking, Superintendent of Banking. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Iowa. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
APRs vary by lender and state in Iowa. Each lender sets its own rates and terms and must show you the APR before you sign.
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- Questions about a lender licensed in Iowa? Contact the Iowa Division of Banking, Superintendent of Banking or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.