Loan Rates and Fees in Louisiana
Page last reviewed: March 27, 2026 · Reviewed for accuracy by LendUp
Payday Loan Costs in Louisiana
A licensed lender can charge up to $20 per $100 borrowed plus a $10 documentation fee on loans up to $350, with terms of up to 30 days. The total fees are capped at $55 for loans of $220–$350. Your total outstanding payday balance across all lenders can't exceed $350, tracked through a statewide database.
On a $300 loan due in 14 days, the maximum fee is $55, making your total repayment $355. Federal disclosure rules require your agreement to show the APR - on this 14-day loan that works out to roughly 478%.
- Rollovers are prohibited, but you may refinance up to 75% of the original amount if you first pay all fees plus 25% of principal - new fees apply to the refinanced balance.
- Returned payment fee (labeled "NSF fee" or "returned check fee") is capped at $20 per failed attempt.
- A database verification fee of up to $1 per transaction may appear as a separate line item.
If an offer exceeds these limits, verify with the Louisiana Office of Financial Institutions.
Installment Loan Costs in Louisiana
Licensed consumer lenders use a tiered interest rate on the outstanding (declining) balance, with monthly caps that step down as your balance grows.
| Portion of Unpaid Balance | Maximum Monthly Rate | Equivalent Annual Rate |
|---|---|---|
| First $1,400 | 3% per month | 36% per year |
| $1,400.01 – $4,000 | 2.5% per month | 30% per year |
| Above $4,000 | 2% per month | 24% per year |
Louisiana law does not set a separate state cap on origination or monthly maintenance fees for consumer installment loans - ask the lender for the exact amounts before you sign and confirm them against your agreement's "acquisition charge" or "service charge" line items.
On a $1,000 loan at 3% per month (36% annual) for 12 equal monthly payments, you'd repay approximately $1,197 total - roughly $197 in interest on top of your $1,000 principal, before any additional lender fees.
- Refinancing restarts interest on the new balance - compare your remaining balance to the new loan's total of payments before you agree.
- Returned payment fee: the same $20 cap applies - see payday loan costs above.
- Late fee: capped at 5% of the unpaid installment amount; confirm the grace period length with your lender, as state law does not specify a uniform grace period for all consumer loan agreements.
- You can prepay in full at any time with no penalty - the lender must refund or credit unearned interest; see the installment loans page for repayment details.
If an offer exceeds these limits, verify with the Louisiana Office of Financial Institutions.
What to Check on Your Offer
- Finance charge: can't exceed $20 per $100 borrowed plus a $10 documentation fee (max $55 on loans of $220–$350).
- APR: on a 14-day $300 loan, roughly 478% - the short-term fee scaled to a full year, not a separate charge.
- Database fee: shouldn't exceed $1 per transaction.
- Interest rate: shouldn't exceed 3% per month (36% per year) on the first $1,400 of your balance, stepping down on higher portions.
- Origination/maintenance fee: no state cap - ask the lender for the exact amount before you sign.
- Late fee: shouldn't exceed 5% of the missed payment amount.
- Returned payment fee: shouldn't exceed $20 for either product.
- Total of payments: the single most important number - what you'll actually pay back over the full term, including all fees and interest.
- Military households: if you or your spouse are active-duty, the all-in cost can't exceed 36% MAPR under federal law - compare to the APR on your offer.
Official Sources
- Louisiana Office of Financial Institutions
- Louisiana Deferred Presentment and Small Loan Act (Title 9)
- OFI License Lookup
Rules can change - confirm with the Louisiana Office of Financial Institutions if an offer doesn't match what's shown here.