Payday Loans in New Hampshire: Legal, but Capped at 36% APR

Yes, payday loans are legal in New Hampshire, but a licensed lender can have no more than $500 out to you, due in 7 to 30 days, at 36% APR or less with no fees on top. At that cap, $500 for 30 days costs at most $14.79.

New Hampshire Loan Costs at 36% APR and 25% a Month

Worked out from New Hampshire law, not offers from lenders in our network; a lender can charge less.

Payday loans carry interest only, with no other fee. On any small loan, interest can't be taken in advance or compounded. For small loans other than payday and title loans, the 36% test leaves out one application fee and one membership fee of up to $100 each a year.

New Hampshire's $500 Payday Limit, 60-Day Gap and No-Renewal Rule

• $500 per lender, secured by one check at most.
• 7 to 30 days to the due date; after it, interest can't exceed 6% a year.
• No rollovers: no refinancing, renewal or extension.
• 60-day gap: no new loan if you've had a payday or title loan in the past 60 days, which you certify under oath.
• Ways out: cancel by the next business day's close by returning the money, or prepay in $50 steps or in full, free.

Payday lenders must keep a New Hampshire office open to consumers and can't threaten criminal charges if your check bounces. For scale, a $15-per-$100 two-week fee works out to about 391% APR.

New Hampshire Car Title Loans: 25% a Month With Required Paydowns

A title loan is secured by your vehicle title, with a first term of one month at most. Interest is capped at 25% a month, about 300% a year.

• At renewal, unpaid interest can't be added to the balance, and the first period can't carry a lower teaser rate.
• If you can't pay the 10%, the lender declares default or renews, and either way charges interest on a balance 10% lower. Interest stops 60 days after a default.

Small Installment Loans to $10,000 Under RSA 399-A:16

A small loan is $10,000 or less, for personal or household use, at 10% APR or more. Apart from payday and title loans, it's capped at 36% APR, and one lender can't have you owe more than $10,000 in all.

• Late fees. One per installment, only after 10 days overdue, up to 5%: $5.02 on a $100.46 payment.
• Collateral. No real estate, and no household furniture in use on loans of $2,000 or less.

Who Needs a New Hampshire Small Loan License, Online Lenders Included

A Banking Department license is needed to make, arrange, find or advertise small loans in New Hampshire or with consumers here, online included. Banks, trust companies, savings associations and credit unions are exempt and lend under their own laws, so the caps above bind licensed lenders. A small loan made without a required license is void: the lender can't collect principal, interest or charges.

Three Steps to Request a New Hampshire Payday or Installment Loan

1. Choose a payday loan of up to $500 or a small installment loan of up to $10,000, and have your ID, proof of income and bank details ready.
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. Check that the APR is 36% or less (25% a month on a title loan) and that the lender holds a New Hampshire license.

Confirming a Small Loan Lender License With the NH Banking Department

1. Search NMLS Consumer Access by the company's legal name or NMLS ID.
2. Look for an active New Hampshire Small Loan Lender license, which covers payday and title lending too.
3. For a payday or title loan, ask for the lender's New Hampshire office address; the law requires one.

Questions: NH Banking Department, (603) 271-3561. Complaints go in writing on its form.

• Military borrowers. Federal law caps payday, vehicle title and most other loans to active-duty servicemembers and covered family members at a 36% Military APR.

Common Questions

Official Sources

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