What a loan can cost in Vermont
Examples at an illustrative rate, never above Vermont's cap for the amount. They are not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 24%
- Repayment
- 12 monthly payments
- Payment
- $47.28
- Finance charge
- $67.36
- Total of payments
- $567.36
Example: a $500 installment loan at 24% APR repaid in 12 monthly payments of $47.28 costs $567.36 in total, including a finance charge of $67.36. 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)
- 24%
- Repayment
- 12 monthly payments
- Payment
- $94.56
- Finance charge
- $134.72
- Total of payments
- $1,134.72
Example: a $1,000 installment loan at 24% APR repaid in 12 monthly payments of $94.56 costs $1,134.72 in total, including a finance charge of $134.72. 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)
- 18%
- Repayment
- 12 monthly payments
- Payment
- $275.04
- Finance charge
- $300.48
- Total of payments
- $3,300.48
Example: a $3,000 installment loan at 18% APR repaid in 12 monthly payments of $275.04 costs $3,300.48 in total, including a finance charge of $300.48. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in Vermont
Free and low-cost help in Vermont, each with its official link and the date we checked it.
Lending regulator and complaints
Vermont Department of Financial Regulation Banking Division licenses lenders in Vermont.
Check a lender's license File a complaint
dfr.vermont.gov Checked September 23, 2026
Attorney general consumer protection
Takes complaints about scams and unfair debt collection.
ago.vermont.gov Checked September 23, 2026
211
Help with rent, utilities, food and other urgent bills.
vermont211.org Checked September 23, 2026
Legal aid
Free civil legal help if your income is low; income limits vary.
legalservicesvt.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 Vermont.
dcf.vermont.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 Vermont
Each rule links to its source. How we research state rules.
Allowed in Vermont: installment and personal loans. Not allowed: title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4][5] | Allowed | 24% APR (top tier) | Not set by statute | Not set by statute | Lender license | 8 V.S.A. chapter 73; 9 V.S.A. sec. 41a; 9 V.S.A. sec. 46 |
| Title loans[1][4] | Not allowed | Not allowed | Not set by statute | Not set by statute | None | 9 V.S.A. sec. 41a; 8 V.S.A. chapter 73 |
| Payday loans[2][5][6][4] | Not allowed | Not allowed | Not set by statute | Not set by statute | None | 9 V.S.A. sec. 41a; 8 V.S.A. chapter 73 |
| 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 Vermont
Installment and personal loans
- Rate cap
- Licensed lenders under 8 V.S.A. chapter 73 may not charge more than authorized by 9 V.S.A. sec. 41a or 46 (8 V.S.A. sec. 2233(a)). For installment loans not otherwise covered, 9 V.S.A. sec. 41a(b)(5) caps the finance charge at 24 percent per annum on the first 1,000 dollars and 12 percent per annum on the balance above 1,000 dollars, or an 18 percent APR, whichever is higher. Single-payment loans by Title 8 lenders are capped at 18 percent per annum; vehicle and equipment loans at 18 percent (20 percent for older collateral); retail installment contracts at 18 percent on the first 500 dollars and 15 percent above. The general usury ceiling is 12 percent per annum unless another statute specifically authorizes a different rate.
- Fees
- Fees for licensed lenders are governed by 8 V.S.A. sec. 2233, which ties total charges to the 9 V.S.A. sec. 41a/46 ceiling.
- License
- Lender license (8 V.S.A. chapter 73), issued by the Vermont Department of Financial Regulation, Banking Division.
Title loans
- Rate cap
- No motor vehicle title loan statute exists; the product is not authorized and would be blocked by the same usury ceiling that bars payday lending.
- Fees
- Not applicable.
- License
- None; no title loan license exists in Vermont.
Payday loans
- Rate cap
- No separate payday-loan statute exists; deferred-presentment/check-cashing style payday loans are barred because they cannot be made within the 9 V.S.A. sec. 41a interest ceiling (18 percent per annum for licensed single-payment loans) and licensed lenders are barred from holding a check for later deposit.
- Fees
- Not applicable; product is not offered as a distinct licensed category.
- License
- None; no payday/deferred-presentment license exists in Vermont. Any deferred-presentment loan would have to be made under the general 8 V.S.A. chapter 73 lender license and would still be capped at the usury ceiling.
Rent and jobs in Vermont
Typical rent and the jobless rate, to weigh before a loan payment.
Guides for Vermont borrowers
Check your options in Vermont
Vermont questions
Does Vermont law allow payday loans?
Vermont law does not allow payday loans. Source: 9 V.S.A. sec. 41a; 8 V.S.A. chapter 73.
What is the most a lender can charge in Vermont?
By loan type in Vermont: Installment and personal loans: 24% APR (top tier). Title loans: Not allowed. Payday loans: Not allowed.
Where can I file a complaint about a lender in Vermont?
You can file a complaint with Vermont Department of Financial Regulation Banking Division, and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Vermont on this page.
How do I check a lender's license in Vermont?
Vermont Department of Financial Regulation Banking Division licenses lenders in Vermont. Use the license link under Resources in Vermont on this page to check a lender before you share your information.
Is there free help paying bills in Vermont?
Yes. Resources in Vermont on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Nearby states
- New HampshireAllowed 36% APR
- MassachusettsAllowed 23% APR
- New YorkAllowed 25% APR
- ConnecticutAllowed 36% APR (top tier)
- Rhode IslandAllowed 36% APR (top tier)
Sources
- legislature.vermont.gov. 8 V.S.A. chapter 73. Retrieved September 23, 2026.
- legislature.vermont.gov. 9 V.S.A. sec. 41a. Retrieved September 23, 2026.
- legislature.vermont.gov/statutes/section/08/073/02233. Retrieved September 23, 2026.
- dfr.vermont.gov. Vermont Department of Financial Regulation, Banking Division. Retrieved September 23, 2026.
- ago.vermont.gov/consumer/money-and-credit/personal-loans. Retrieved September 23, 2026.
- vtdigger.org/2014/04/23/vermont-attorney-general-wins-1m-settlement-payday-lenders. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Vermont. 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 Vermont. 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 Vermont? Contact the Vermont Department of Financial Regulation, Banking Division or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.