What a payday loan costs — before New Hampshire’s rules
A payday loan typically costs $15–$20 per $100 borrowed for a two-week term — roughly 400% APR — and is due as a single lump sum on your next payday. That single-payment structure, not the fee on any one loan, is the trap: most fees come from borrowers who cannot clear the balance in one go and roll it over. Where a state caps rates below payday levels, licensed payday lending disappears and a loan above the cap is generally void — not legally collectible, whatever the contract says.
The law in New Hampshire
- Rate cap
- 36% APR cap on small/payday loans up to $10,000 under RSA 399-A (effective 2009).
- Key law
- New Hampshire RSA 399-A (Small Loans, Title Loans, Payday Loans); 36% cap enacted 2009.
- Enforcement
- The New Hampshire Banking Department licenses small-loan lenders. No major tribal-lender AG case verified.
New Hampshire’s 2009 36% cap drove nearly all payday storefronts to close.
What it means for a New Hampshire borrower
Loans above 36% APR are unlawful, and most storefront payday lenders left the state as unprofitable. A loan exceeding the cap is not enforceable.
If you already have a payday loan in New Hampshire
A loan that violates New Hampshire’s rate limits may be partly or fully unenforceable — which changes your options with the lender and any collector. This is general information, not legal advice.
- Contact the New Hampshire Banking Department to confirm licensing and file a complaint.
- A loan over 36% APR is likely void.
Cheaper first — try these before a payday loan in New Hampshire
Payday Loans and tribal lenders in New Hampshire
Many online lenders that market payday loans to New Hampshire residents are tribal lenders arguing their sovereignty places them outside state rate caps — a separate legal question this site tracks in depth. For which tribal brands lend to New Hampshire residents and how state law applies to them, see the New Hampshire tribal-lending page.
Tribal loans in New Hampshire →Frequently asked questions
Does an online or tribal lender have to follow New Hampshire's payday loan rules?
New Hampshire applies its rules to loans made to its residents, wherever the lender sits. Tribal lenders argue that sovereign immunity puts them outside state rate caps — an argument courts have accepted in some cases and rejected in others. For which tribal brands lend to New Hampshire residents and how the state treats them, see the New Hampshire tribal-loan page.
What can I do about a payday loan I already have in New Hampshire?
Because New Hampshire restricts high-cost payday loans, a loan that exceeds the state limit may be partly or fully uncollectible — so find out before you pay a collector anything more. The steps on this page start with the lender's license. This is general information, not legal advice.