(last updated 11/13/2019)
New Hampshire Payday Loan Laws and Regulations in (NH)
Payday loans and cash advances are legal in New Hampshire. The State of New Hampshire Banking Department has been regulating Payday Loans and Cash Advances since April 13th, 2003. As of 01/13/2015 there were 3 licensed lenders and 23 licensed locations in New Hampshire.
The maximum payday loan allowed in New Hampshire is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is 1. The maximum permissible fees allowed in New Hampshire is the APR on a loan may be no more than 36% per year.. The cooling off or waiting period for obtaining another loan is 60 days. The number of rollovers that are permitted is 0 (borrower may renew for additional cash; prior loan must be paid in full from new loan proceeds). The minimum loan term is 7 days. The maximum loan term is 30 days.
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in New Hampshire, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the State of New Hampshire Banking Department.
The following classes of lending organizations my be exempt from some, all, or none of the regulations and laws set by the state of New Hampshire. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.