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States Delaware Installment Loans

Installment Loans in Delaware

Page last reviewed: October 28, 2026 · Reviewed for accuracy by Betty Walsh

Yes, licensed Delaware lenders make installment loans, and with no state rate cap, your contract sets the rate. The law does cap late fees at 5% of the payment and lets you repay early without a penalty.

Check Your Options
Rate cap None: the rate is whatever your loan agreement sets
Example Illustration: $2,500 over 24 months at 36%: $147.62 a month
Late fee Up to 5% of the late payment, once per payment
Paying early Any time, with no prepayment charge
You need ID, proof of income and a bank account
See Sample Payments Fees Allowed

LendUp isn't a lender. We pass your request to lenders in our network; offers aren't guaranteed, and we may earn compensation if a loan is funded.

Sample Payments at 36% and 150% a Year

LoanAt 36%At 150%
$500, 6 mo6 × $92.306 × $123.34
$1,000, 12 mo12 × $100.4612 × $165.19
$2,500, 24 mo24 × $147.6224 × $332.16
$5,000, 36 mo36 × $229.0236 × $634.13

Illustrations at sample rates, not Delaware limits and not offers from lenders in our network. Delaware sets no cap, so a lender can charge more or less; the APR and total of payments on your offer are what count.

On $1,000 over 12 months, the higher rate costs about $777 more in interest. Your federal disclosure adds up principal, interest and fees as the total of payments, the figure to compare.

The Fees Delaware Allows on Top of Interest

  • Reasonable fees for services or expenses, only as listed on the itemized schedule you get when you apply.
  • A late fee of up to 5% of the late installment, once per installment, and only if your agreement allows it.
  • A returned-payment charge, limited to the amount in your agreement, once per item.
  • A deferral fee, if the lender agrees to let you put off a payment.
  • After a default, reasonable attorney fees and collection costs, if the agreement provides for them.

Credit life or disability insurance is your choice: a lender can offer it but can't require it. Property insurance can be required only on a secured loan.

Paying Early, Deferring or Refinancing

You can pay off the loan at any time with no prepayment charge. If interest was precomputed and taken in advance, the lender must refund the unearned part, worked out at least as favorably as the actuarial method; refunds under $5 aren't required.

Refinancing needs the lender's consent and can carry a refinancing charge, so compare your payoff amount with the new loan's total of payments first. Need $1,000 or less for a few weeks? See Delaware payday loan rules, though the state recorded none in 2025.

Requesting a Delaware Installment Loan in Three Steps

  1. Choose an amount and a term you can afford. With no rate cap, the rate and term you accept set the cost.
  2. Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
  3. Ask for the lender's itemized schedule of charges; a licensed lender must give it to you when you apply.

Find the Lender on Delaware's License List

Official lookup tool OSBC Licensed Non-Depository Institutions
  1. On OSBC's Licensed Non-Depository Institutions page, open the Licensed Lender list, a PDF updated weekly.
  2. Find the lender's legal name and confirm Current - Licensed; every license runs to December 31.
  3. Make sure the name and address match your installment loan offer.

Call OSBC at (302) 739-4235 with questions. Complaints must be in writing; the Delaware overview lists where to send them.

  • No early demand. A lender can't call the loan due early unless you've broken a term, or take a wage assignment as security.
  • A copy on request. The lender must give you a correct copy of the loan obligation when you ask.
  • Unlicensed means the legal rate. Without the license it needed, a lender can charge no more than 5% over the Federal Reserve discount rate.

Common Questions

How do I qualify for an installment loan in Delaware?

Lenders set their own standards. A LendUp request needs an ID, proof of income and a bank account, and the lender must hold an OSBC license.

How do I find the best installment loan in Delaware?

Compare the APR and total of payments on each offer, since Delaware has no rate cap. On $1,000 over 12 months, 36% versus 150% is a difference of about $777.

Does Delaware cap interest on installment loans?

No. A licensed lender can charge the rate set in the loan agreement, and Delaware's other interest limits don't apply.

Can I pay off a Delaware installment loan early?

Yes, at any time and without a prepayment charge. If the interest was precomputed, the lender must refund the unearned part.

Do the payday limits apply to installment loans?

No. A loan over $1,000, or with a stated term of 60 days or more, isn't a short-term consumer loan, so the five-loan limit and the database don't apply.

Official Sources

General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.

← Delaware loan rules