Loans in Louisiana: Payday and Installment Options
Page last reviewed: October 28, 2026 · Reviewed for accuracy by Betty Walsh
You can get a loan in Louisiana from a lender licensed by the Office of Financial Institutions (OFI): a payday loan of up to $740, or an installment loan capped at 36% a year on the first $1,400 of the balance.
| Payday loans | Up to $740 until Aug 31, 2027; your check is held 30 days max |
| Installment loans | 36% a year on the first $1,400; 27%, 24% and 21% on larger balances |
| Example | $1,000 over 12 months: about $100.46 a month at the 36% cap |
| You need | ID, proof of income and a bank account; payday loans use your check |
| Licensing | Lenders need an OFI license; unlicensed loans are void |
What $300 to $6,000 Costs in Louisiana
| Loan | Payments | Total cost (APR) |
|---|---|---|
| $300 payday, 14 days | 1 × $370.36 | $70.36 (~611%) |
| $1,000 over 12 mo | 12 × $100.46 | $301 (~57%) |
| $3,000 over 24 mo | 24 × $172.22 | $1,228 (~36%) |
| $6,000 over 36 mo | 36 × $253.42 | $3,218 (~31%) |
Worked out from Louisiana law, not offers from lenders in our network; a lender can charge less.
Installment costs include the maximum $75 origination and $20 documentation fees, taken from the loan. The payday cost includes the $10 documentation fee.
How the Tiered Rate Cap Works
Under the Louisiana Consumer Credit Law, each slice of your unpaid balance has its own cap. On a $3,000 balance, the first $1,400 can carry 36% and the other $1,600 27%, about 31.2% overall. As you pay down below $1,400, the whole balance sits in the 36% slice.
- Origination fee: up to $75 since August 1, 2026 (Act 402; it was $50), once in any 30 days, and not refunded if you pay early.
- Documentation fee: up to $20.
- Late fee: only after 10 days, the greater of 5% of the installment or $10.
- Returned payment: the greater of $25 or 5% of the payment.
- Paying early: allowed any time. On a precomputed loan you get unearned charges back under the Rule of 78s, less up to $25 in the first half of the term.
Payday or Installment: What Fits Your Need
- You need $740 or less
- You can repay it all within 30 days
- You want the right to a no-fee payment plan if you fall short
- You need more than $740, or monthly payments
- You want the lower rate: 36% a year at most
- You can absorb up to $95 in fees at the start
The payday fee works out to $20.12 for every $100 you receive. See Louisiana payday loan rules for costs by amount and your repayment options.
Three Steps to Request a Louisiana Loan
- Have your ID, proof of income and bank account details ready.
- Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
- Before you sign, find the lender on OFI's list and check that the fees fit the limits above.
Is the Lender on OFI's List?
- Search OFI's list of active licensees by the company's legal name, and match the branch address and phone number to your offer.
- Or look up its NMLS number in NMLS Consumer Access.
OFI: (225) 925-4660 or (888) 525-9414.
- Unlicensed loans are void. If the lender needed a Louisiana license and lacked one, the loan is uncollectible and the lender forfeits the proceeds, fees and charges.
- Willful overcharges cost triple. If a court finds an installment lender broke the law on purpose, you can recover three times the finance charges plus attorney fees, after written notice and 30 days to fix it.
- Servicemembers. Federal law caps most loans to active-duty members and their spouses at a 36% Military APR.
Common Questions
Can I get a loan online in Louisiana?
You can send a request online through LendUp. The lender still needs a Louisiana license from OFI, and the state's payday limit and installment rate caps apply to it.
What is the easiest loan to get approved for in Louisiana?
No loan is guaranteed, because each lender sets its own standards. What Louisiana law controls is the price: a payday fee of up to 16.75% of your check plus $10, or installment rates of 36% a year or less from a licensed lender.
Are payday loans legal in Louisiana?
Yes, from OFI-licensed lenders. From September 1, 2026 to August 31, 2027, the limit is $740, or $370 for a small loan of 60 days or less.
What is the interest rate cap on installment loans in Louisiana?
For licensed lenders: 36% a year on the first $1,400 of the unpaid balance, 27% from $1,400 to $4,000, 24% from $4,000 to $7,000 and 21% above. Fees of up to $75 for origination and $20 for documentation are extra.
Can I pay off a Louisiana installment loan early?
Yes, at any time. Ask in writing and the lender must give you a payoff figure within 5 days, free once a year. The origination fee isn't refunded.
Where do I complain about a Louisiana lender?
Send OFI's complaint form to [email protected], fax it to (225) 925-4524 or mail it to OFI in Baton Rouge. OFI takes complaints in writing only.
Official Sources
General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.
- La. R.S. 9:3578.1-3578.8 - Deferred Presentment and Small Loan Act (OFI copy, through 2021)
- Louisiana OFI - Act 510 (HB 582) of 2025, legislative summary
- Louisiana OFI - Maximum outstanding principal balance, 2025-2027
- La. R.S. 9:3510 et seq. - Louisiana Consumer Credit Law (OFI copy, through 2021)
- Louisiana OFI - Act 402 (HB 545) of 2026, legislative summary
- Louisiana OFI - Payday loan consumer FAQs
- Louisiana OFI - Guidance on Act 636 (2014) and R.S. 9:3518.4
- Louisiana OFI - Licensed lender FAQs
- Louisiana OFI - Active licensed lender licensees
- Louisiana OFI - Complaint procedures
- NMLS Consumer Access - license lookup
- CFPB - Rights under the Military Lending Act
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