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Payday loans in Rhode Island

Payday loans for bad credit in Rhode Island

Payday loans are allowed in Rhode Island. Here are the limits Rhode Island law sets, what a typical loan can cost, and where to get free help if you need it.

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Last updated .

Part of the Rhode Island guide

What Rhode Island law allows

Payday loans in Rhode Island
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2][3] AllowedNo rate limit in state law No rate limit 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. 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 Laws Section 19-14.4-5.1, the statute authorizing this deferred-deposit product, is repealed effective January 1, 2027 per 2025 P.L. chapters 373 and 391.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.

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Rent and jobs in Rhode Island

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Rhode Island
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,765FY2026
Unemployment rate[5]3.7%2026-08

Other options in Rhode Island

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.

More cheaper options in Rhode Island.

Other loan types allowed in Rhode Island

See every loan type Rhode Island law allows.

Payday loans in nearby states

Sources

  1. webserver.rilegislature.gov. R.I. Gen. Laws Section 19-14.4-5.1. Retrieved September 23, 2026.
  2. webserver.rilegislature.gov/Statutes/TITLE19/19-14.4/INDEX.htm. Retrieved September 23, 2026.
  3. dbr.ri.gov. Rhode Island Department of Business Regulation (DBR), Division of Banking. Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Rhode Island. Retrieved September 23, 2026.
  5. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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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.

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  • 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.