Check your optionsYour request goes to a lending network partner, who shares it with lenders. Lenders set their own rates and decide whether to lend. There is no fee to use our service.
What Rhode Island law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3] | Allowed | No numeric cap | Up to $500 | At least 13 days | Licensed check casher under R.I. Gen. Laws Chapter 19-14.4, Dept. of Business Regulation | R.I. Gen. Laws Section 19-14.4-5.1 |
| 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
- Currently: licensed check cashers may defer deposit of a personal check (a 'deferred deposit') for a term of no less than 13 days; face amount of the check may not exceed $500; fee/APR disclosure is required but no flat APR cap was found in the section read. IMPORTANT: R.I. Gen. Laws Section 19-14.4-5.1, the statute authorizing this deferred-deposit product, is repealed effective January 1, 2027 per 2025 P.L. chapters 373 and 391.
- Fees
- Deferred deposit transaction fees may not exceed 10% of the amount of funds advanced (R.I. Gen. Laws 19-14.4-4); fees must also be disclosed in dollars and as an APR (19-14.4-5.1).
- License
- Licensed check casher under R.I. Gen. Laws Chapter 19-14.4, Dept. of Business Regulation.
Full detail for every loan type: Rhode Island lending laws.
Help in Rhode Island
Money snapshot for Rhode Island
Other options in Rhode Island
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Emergency loans in Rhode Island: allowed under Rhode Island law; see its limits and license rules.
- Installment loans in Rhode Island: allowed under Rhode Island law; see its limits and license rules.
- Personal loans in Rhode Island: allowed under Rhode Island 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 Rhode Island.
Payday loans in nearby states
- MassachusettsNot allowed Not allowed
- ConnecticutNot allowed Not allowed
- New HampshireAllowed 36% APR
- VermontNot allowed Not allowed
- New JerseyNot allowed Not allowed
Sources
- webserver.rilegislature.gov. R.I. Gen. Laws Section 19-14.4-5.1. Retrieved September 23, 2026.
- webserver.rilegislature.gov/Statutes/TITLE19/19-14.4/INDEX.htm. Retrieved September 23, 2026.
- dbr.ri.gov. Rhode Island Department of Business Regulation (DBR), Division of Banking. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Rhode Island. 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 Rhode Island. Each lender sets its own rates and terms and must show you the APR before you sign.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
- There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
- Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
- Our service is not available in all states, and not every loan type is available in every state.
- By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
- Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
- Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
- BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
- BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
- Questions about a lender licensed in Rhode Island? Contact the Rhode Island Department of Business Regulation (DBR), Division 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.