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What Montana law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3][4][5][6] | Allowed | 36% APR | Not set by statute | Not set by statute | Deferred Deposit Lender license would be required to operate, but per DBFI's own... | Mont. Code Ann. Title 31, ch. 1, part 7; fee cap at 31-1-722; enacted rate cap via Initiative I-164 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.
The rules in full
Payday loans
- Rate cap
- Deferred deposit (payday) lenders are capped at 36% APR, all-in, under the same I-164 framework codified in Montana's Deferred Deposit Loan statute (Mont. Code Ann. Title 31, ch. 1, part 7, also cross-referenced at 32-5-301). This rate is low enough that traditional fee-based payday lending is not economically viable, and a state regulator source notes there are currently no licensed payday lenders operating in Montana.
- Fees
- 36% APR cap includes all fees, same as the general consumer loan cap.
- License
- Deferred Deposit Lender license would be required to operate, but per DBFI's own guidance no licensees currently exist in this category because the 36% cap makes the traditional payday product unprofitable.
Full detail for every loan type: Montana lending laws.
Help in Montana
Money snapshot for Montana
Other options in Montana
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Emergency loans in Montana: allowed under Montana law; see its limits and license rules.
- Installment loans in Montana: allowed under Montana law; see its limits and license rules.
- Personal loans in Montana: allowed under Montana law; see its limits and license rules.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Montana.
Payday loans in nearby states
- WyomingAllowed Cap set in statute
- IdahoAllowed No numeric cap
- North DakotaAllowed Fee cap
- South DakotaAllowed 36% APR
- WashingtonAllowed Fee cap
Sources
- responsiblelending.org/media/montana-voters-reject-payday-loan-abuses. Retrieved September 23, 2026.
- lmtribune.com/northwest/many-montana-payday-lenders-shutting-down-9d3ca41f. Retrieved September 23, 2026.
- banking.mt.gov/MortgageConsumerFinance/FAQs. Retrieved September 23, 2026.
- banking.mt.gov/_docs/DDL/DDL-I-164-Memo.pdf. Retrieved September 23, 2026.
- leg.mt.gov. Mont. Code Ann. Title 31, ch. 1, part 7. Retrieved September 23, 2026.
- doa.mt.gov. Montana Division of Banking and Financial Institutions (DBFI). Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Montana. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. 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 Montana. Each lender sets its own rates and terms and must show you the APR before you sign.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 36%
- Repayment
- 12 monthly payments
- Payment
- $100.46
- Finance charge
- $205.52
- Total of payments
- $1,205.52
Example: a $1,000 payday loan at 36% APR repaid in 12 monthly payments of $100.46 costs $1,205.52 in total, including a finance charge of $205.52. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
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- Questions about a lender licensed in Montana? Contact the Montana Division of Banking and Financial Institutions (DBFI) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.