What a loan can cost in Indiana
Examples at an illustrative rate, never above Indiana'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 Indiana
Free and low-cost help in Indiana, each with its official link and the date we checked it.
Lending regulator and complaints
Indiana Department of Financial Institutions (DFI) licenses lenders in Indiana.
Check a lender's license File a complaint
in.gov Checked September 23, 2026
Attorney general consumer protection
Takes complaints about scams and unfair debt collection.
in.gov Checked September 23, 2026
211
Help with rent, utilities, food and other urgent bills.
in.gov Checked September 23, 2026
Legal aid
Free civil legal help if your income is low; income limits vary.
indianalegalservices.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 Indiana.
fssabenefits.in.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 Indiana
Each rule links to its source. How we research state rules.
Allowed in Indiana: 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) | Not set by statute | Not set by statute | Loan License | IC 24-4.5-3, esp. IC 24-4.5-3-508 |
| Title loans[3][1] | AllowedHigh-cost loan | 36% APR (top tier) | Not set by statute | Not set by statute | Licensed as a consumer/supervised lender under the Indiana UCCC | IC 24-4.5-3, esp. IC 24-4.5-3-508 |
| Payday loans[4][1] | AllowedHigh-cost loan | Fee cap | Up to $605 | 14 days to 4 months | Small Loan license | Statute |
| 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 Indiana
Installment and personal loans
- Rate cap
- IC 24-4.5-3-508(2): a supervised lender may charge the greater of (a) tiered rates of 36% per year on unpaid principal up to $2,000, 21% on the part from $2,000 to $4,000, and 15% on the part above $4,000, or (b) 25% per year on the unpaid principal. Dollar breakpoints are subject to Indiana's index adjustments. A separate general criminal usury ceiling of 72% APR applies statewide.
- Fees
- For loans made after June 30, 2020, a nonrefundable prepaid finance charge of up to $75 (principal of $2,000 or less), $150 ($2,001 to $4,000), or $200 (over $4,000) may be charged (IC 24-4.5-3-508).
- License
- Loan License (supervised lender) under the Indiana UCCC, issued by the Indiana Department of Financial Institutions (DFI), Consumer Credit Division.
Title loans
- Rate cap
- Indiana has no standalone title-loan statute; a vehicle-title-secured loan is a consumer loan under the Indiana UCCC, IC 24-4.5-3-508: the greater of tiered rates (36% up to $2,000, 21% from $2,000 to $4,000, 15% above $4,000) or a flat 25% per year.
- License
- Licensed as a consumer/supervised lender under the Indiana UCCC (no separate 'title loan' license category); Indiana DFI licenses and examines title lenders under this general framework and requires up-front disclosure of every charge.
Payday loans
- Rate cap
- IC 24-4.5-7-201 limits small-loan finance charges to 15% of the first $250 of principal, 13% of the portion from $250 to $400, and 10% of the portion from $400 to $550 (statutory base amounts; indexed amounts may be higher). No numeric APR cap; implied APRs on a 14-day loan are in the triple digits.
- Fees
- Tiered finance charges of 15% / 13% / 10% as above (IC 24-4.5-7-201); dishonored check/debit fee not exceeding $25.
- License
- Small Loan license (payday lender) under the Indiana UCCC, IC 24-4.5-7, issued by Indiana DFI.
Rent and jobs in Indiana
Typical rent and the jobless rate, to weigh before a loan payment.
Guides for Indiana borrowers
Check your options in Indiana
Indiana questions
Does Indiana law allow payday loans?
Indiana law allows payday loans. State law caps the fee rather than the APR.
What is the most a lender can charge in Indiana?
By loan type in Indiana: Installment and personal loans: 36% APR (top tier). Title loans: 36% APR (top tier). Payday loans: Fee cap.
Where can I file a complaint about a lender in Indiana?
You can file a complaint with Indiana Department of Financial Institutions (DFI), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Indiana on this page.
How do I check a lender's license in Indiana?
Indiana Department of Financial Institutions (DFI) licenses lenders in Indiana. Use the license link under Resources in Indiana on this page to check a lender before you share your information.
Is there free help paying bills in Indiana?
Yes. Resources in Indiana on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Nearby states
- IllinoisAllowed 36% APR
- KentuckyAllowed 36% APR (top tier)
- OhioAllowed 25% APR
- TennesseeAllowed 24% APR
- West VirginiaAllowed 31% APR (top tier)
Sources
- in.gov. Indiana Department of Financial Institutions (DFI), Consumer Credit Division. Retrieved September 23, 2026.
- codes.findlaw.com/in/title-24-trade-regulation/in-code-sect-24-4-5-7-102. Retrieved September 23, 2026.
- codes.findlaw.com. IC 24-4.5-3, esp. IC 24-4.5-3-508. Retrieved September 23, 2026.
- Justia. IC 24-4.5-7. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Indiana. 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 Indiana. 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 Indiana? Contact the Indiana Department of Financial Institutions (DFI), Consumer Credit Division or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.