What a loan can cost in Iowa
Examples at an illustrative rate, never above Iowa's cap for the amount. They are not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $48.74
- Finance charge
- $84.88
- Total of payments
- $584.88
Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $97.48
- Finance charge
- $169.76
- Total of payments
- $1,169.76
Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $3,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $292.45
- Finance charge
- $509.40
- Total of payments
- $3,509.40
Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in Iowa
Free and low-cost help in Iowa, each with its official link and the date we checked it.
Lending regulator and complaints
Iowa Division of Banking, Superintendent of Banking licenses lenders in Iowa.
Check a lender's license File a complaint
idob.iowa.gov Checked September 23, 2026
Attorney general consumer protection
Takes complaints about scams and unfair debt collection.
iowaattorneygeneral.gov Checked September 23, 2026
211
Help with rent, utilities, food and other urgent bills.
211iowa.org Checked September 23, 2026
Legal aid
Free civil legal help if your income is low; income limits vary.
iowalegalaid.org Checked September 23, 2026
Nonprofit credit counseling
Help with a budget or a debt management plan.
nfcc.org Checked September 23, 2026
Benefits portal
Check whether you qualify for food, cash or other benefits in Iowa.
hhs.iowa.gov Checked September 23, 2026
Federal complaints
Complaints about any lender, to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
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). 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.
- 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.
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
The rules lenders follow in Iowa
Each rule links to its source. How we research state rules.
Allowed in Iowa: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3] | Allowed | 36% APR (top tier) | Up to $30,000 | Not set by statute | Regulated Loan license | Iowa Code ch. 536, esp. s. 536.13 |
| Title loans[4][5][3] | AllowedHigh-cost loan | 21% APR | Not set by statute | Not set by statute | Regulated Loan license | Iowa Code ch. 536 |
| Payday loans[6][7][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. | ||||||
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.
Rate, fee and license rules in Iowa
Installment and personal loans
- Rate cap
- Iowa Code 536.13 delegates rate-setting to the Superintendent of Banking, who fixes maximum rates by rule as an APR for regulated loans with unpaid principal of $30,000 or less; the statutory default (536.13(4), applicable only until the superintendent fixes a different rate) is 3%/month to $150, 2%/month to $300, 1.5%/month to $700, and 1%/month above.
- License
- Regulated Loan license under Iowa Code ch. 536, issued by the Iowa Division of Banking (Superintendent of Banking).
Title loans
- Rate cap
- Iowa title loans are regulated under the Iowa Regulated Loan Act (ch. 536, sometimes discussed alongside ch. 537).
- License
- Regulated Loan license under Iowa Code ch. 536, issued by the Iowa Division of Banking; title lenders must be properly licensed and comply with applicable rate caps and disclosure requirements.
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).
Rent and jobs in Iowa
Typical rent and the jobless rate, to weigh before a loan payment.
Guides for Iowa borrowers
Check your options in Iowa
Iowa questions
Does Iowa law allow payday loans?
Iowa law allows payday loans. State law caps the fee rather than the APR. Source: Iowa Code ch. 533D.
What is the most a lender can charge in Iowa?
By loan type in Iowa: Installment and personal loans: 36% APR (top tier). Title loans: 21% APR. Payday loans: Fee cap.
Where can I file a complaint about a lender in Iowa?
You can file a complaint with Iowa Division of Banking, Superintendent of Banking, and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Iowa on this page.
How do I check a lender's license in Iowa?
Iowa Division of Banking, Superintendent of Banking licenses lenders in Iowa. Use the license link under Resources in Iowa on this page to check a lender before you share your information.
Is there free help paying bills in Iowa?
Yes. Resources in Iowa on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Nearby states
Sources
- Justia. law.justia.com/codes/iowa/title-xiii/chapter-536/section-536-13. Retrieved September 23, 2026.
- legis.iowa.gov. Iowa Code ch. 536, esp. s. 536.13. Retrieved September 23, 2026.
- idob.iowa.gov. Iowa Division of Banking, Superintendent of Banking. Retrieved September 23, 2026.
- iowalegalaid.org/resource/consumer-scams-and-traps. Retrieved September 23, 2026.
- Justia. Iowa Code ch. 536. Retrieved September 23, 2026.
- 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.
- 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.