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Payday loans in Tennessee

Payday loans for bad credit in Tennessee

Payday loans are allowed in Tennessee from state-licensed lenders (Deferred Presentment Services license). Here are the limits Tennessee 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 Tennessee guide

What Tennessee law allows

Payday loans in Tennessee
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2] AllowedHigh-cost loan Fee cap Up to $500 Up to 31 days Deferred Presentment Services license Tenn. Code Ann. Title 45, Chapter 17
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
Deferred Presentment Services Act (Tenn. Code Ann. Title 45, Chapter 17) caps the fee instead at up to 15% of the face value of the check.
Fees
Fee capped at 15% of the check's total value.
License
Deferred Presentment Services license under Tenn. Code Ann. Title 45, Chapter 17, TDFI; licensee needs $25,000 minimum net worth and internet/phone/fax lending is separately covered by the licensing requirement.

Full detail for every loan type: Tennessee lending laws.

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Rent and jobs in Tennessee

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

Rent and unemployment in Tennessee
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[3]$1,363FY2026
Unemployment rate[4]3.4%2026-08

Other options in Tennessee

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 Tennessee.

Other loan types allowed in Tennessee

See every loan type Tennessee law allows.

Payday loans in nearby states

Sources

  1. tn.gov. Tenn. Code Ann. Title 45, Chapter 17. Retrieved September 23, 2026.
  2. tn.gov. Tennessee Department of Financial Institutions (TDFI). Retrieved September 23, 2026.
  3. National Low Income Housing Coalition. Out of Reach 2026: Tennessee. Retrieved September 23, 2026.
  4. 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 Tennessee. 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 Tennessee? Contact the Tennessee Department of Financial Institutions (TDFI) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.