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What Tennessee law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Title loans[1][2][3] | Allowed | 24% APR | Up to $2,500 | 30 days to 30 days | Title Pledge license under Tenn. Code Ann. Title 45, Chapter 15, TDFI | Tenn. Code Ann. Section 45-15-111; Section 45-15-115 |
| 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
Title loans
- Rate cap
- Title Pledge Act (Tenn. Code Ann. Section 45-15-111(a)): lender may contract for interest not to exceed an effective rate of 2% per month, plus a fee of up to 1/5 (20%) of the original principal amount (or unpaid balance on renewal). 2% per month is roughly 24% APR before the added 20% fee.
- Fees
- Additional fee up to 20% of original principal (or unpaid balance on renewal); lender may also pass through actual repossession costs charged by a third-party repossession company/attorney/contractor.
- License
- Title Pledge license under Tenn. Code Ann. Title 45, Chapter 15, TDFI (not transferable or assignable).
Full detail for every loan type: Tennessee lending laws.
Help in Tennessee
Money snapshot for Tennessee
Other options in Tennessee
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Emergency loans in Tennessee: allowed under Tennessee law; see its limits and license rules.
- Installment loans in Tennessee: allowed under Tennessee law; see its limits and license rules.
- Payday loans in Tennessee: allowed under Tennessee law; see its limits and license rules.
- Personal loans in Tennessee: allowed under Tennessee law; see its limits and license rules.
- 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.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- 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.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Tennessee.
Title loans in nearby states
- KentuckyRestricted 36% APR
- AlabamaAllowed 300% APR
- GeorgiaAllowed Cap set in statute
- IndianaAllowed 36% APR (top tier)
- MississippiAllowed 300% APR
Sources
- Justia. Tenn. Code Ann. Section 45-15-111. Retrieved September 23, 2026.
- tn.gov/tdfi/mortgage-consumer-lending/tpl/tdfi-tpl-faq.html. Retrieved September 23, 2026.
- tn.gov. Tennessee Department of Financial Institutions (TDFI). Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Tennessee. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. 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 Tennessee. Each lender sets its own rates and terms and must show you the APR before you sign.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 24%
- Repayment
- 1 payment after 30 days
- Payment
- $1,019.73
- Finance charge
- $19.73
- Total of payments
- $1,019.73
Example: a $1,000 title loan at 24% APR repaid in 1 payment after 30 days costs $1,019.73, including a finance charge of $19.73. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
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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.