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States Wisconsin Installment Loans

Installment Loans in Wisconsin

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

Who lends: Loan companies licensed by DFI under Wis. Stat. 138.09. A lender needs this license to charge more than 18% a year.

Rate cap: None. Wisconsin law doesn't limit the interest rate a licensed loan company can charge.

Refinancing: No limit on the number of refinances, and no required repayment plan.

Regulator: DFI Division of Banking, Licensed Financial Services, (608) 261-7578.

Check Your Options Wisconsin loan rules

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How to Get an Installment Loan in Wisconsin

  1. Choose the amount and term. Wisconsin sets no rate cap, so a longer term can add a lot of interest.
  2. Submit one request through LendUp with your ID, income details and bank account. Lenders in our network review it, and you see the full cost before you sign. Any prepaid finance charge has to be in that cost.
  3. Check the lender's Wisconsin Loan Company license in NMLS Consumer Access before you sign.
Check Your Options

What a Wisconsin Installment Loan Costs

Installment loans
RuleWisconsin limit
InterestNo cap; a lender needs a loan company license to charge more than 18% a year
Prepaid finance chargeAllowed, and non-refundable, on consumer loans made after December 31, 2024, within limits set by Wis. Stat. 138.09
Returned paymentUp to $15 on closed-end loans
Paying earlyOn a precomputed loan paid in full, the lender must refund part of the precomputed interest
RefinancingNo limit on how many times
If you can't payNo required repayment plan, and the payday law's ban on wage garnishment doesn't apply
Where loans are madeAt a licensed location unless DFI authorizes otherwise in writing; for loans made by mail, the proceeds check is mailed from the licensed location
Wisconsin Consumer ActCovers transactions up to $25,000, rising to $50,000 on January 1, 2027
Loan amount
$1,000
12 monthly payments
At 18%
~$100
the rate that requires a license
At 36%
~$206
the federal military lending limit
Rate cap
None
compare the APR on each offer

Wisconsin has no ceiling, so these rates are reference points, not limits; offers can be much higher. The APR on your disclosure includes the interest and any prepaid finance charge, so it's the best number to compare.

Paying Early

On a simple-interest loan, interest builds on the balance you still owe, so paying early saves interest. On a precomputed loan, your total of payments already includes interest for the full term. If you pay it off in full, the lender must refund a portion of that interest. DFI explains that some lenders figure the refund with the actuarial method; ask which method your contract uses before you sign.

Installment Loans vs. Payday Loans

Wisconsin's payday protections apply only to loans of 90 days or less where the lender holds your check or permission to debit your account until a future date. Loan company loans usually run longer than 90 days, and DFI points out that the loan company law doesn't limit refinancing, doesn't require a repayment plan and doesn't stop a lender from garnishing wages. A payday loan, by contrast, can be refinanced only once and can't lead to garnishment.

Verify an Installment Lender in Wisconsin

Official lookup tool NMLS Consumer Access
  1. Search NMLS Consumer Access by the lender's legal name or NMLS number. Wisconsin loan companies apply for their licenses through NMLS.
  2. Check that Wisconsin lists an active Loan Company license.
  3. For a loan secured by your vehicle, ask whether the lender also holds a DFI title loan certificate of authorization.
  4. Match the license holder's name and address to the lender named on your loan offer.

To complain, contact the lender first, then file with DFI's Licensed Financial Services section online, by email or by mail on Form BCA500. Call (608) 261-7578 or email [email protected].

Your Rights in Wisconsin

  • A refund when you pay early. Pay off a precomputed loan in full and the lender must refund part of the precomputed interest.
  • A $15 limit on returned payments. On closed-end consumer loans, the fee for a returned check is limited to $15.
  • Wider coverage from 2027. From January 1, 2027, the Wisconsin Consumer Act will cover loans up to $50,000, up from $25,000.
  • Military borrowers. Federal law caps most loans to active-duty servicemembers and covered family members at a 36% Military Annual Percentage Rate, and bars prepayment penalties.

Wisconsin Installment Loan Questions

Is there an interest rate cap on installment loans in Wisconsin?

No. A lender needs a DFI loan company license to charge more than 18% a year, but the law doesn't limit the rate a licensed loan company can charge.

What fees can a Wisconsin installment lender charge?

On consumer loans made after December 31, 2024, a licensed loan company can charge a non-refundable prepaid finance charge within limits in Wis. Stat. 138.09. A returned-check fee on a closed-end loan is limited to $15.

Can I pay off a Wisconsin installment loan early?

Yes. On a simple-interest loan you save the interest that hasn't built up yet. On a precomputed loan paid in full, the lender must refund part of the precomputed interest.

Do payday loan protections apply to installment loans?

No. They cover only loans of 90 days or less. Loan company loans have no limit on refinancing, no required repayment plan and no ban on wage garnishment.

How do I check a Wisconsin installment lender's license?

Search NMLS Consumer Access or DFI's Licensed Financial Services licensee search, and check for an active Wisconsin Loan Company license.

Official Sources

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

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