Loan Options in New Hampshire

New Hampshire allows both payday and installment loans, but lenders can't charge more than 36% annually. That cap (RSA 399-A:16) went into effect in 2014 and forced most traditional high-cost payday lenders out of the state. Any lender offering you a small loan must be licensed by the New Hampshire Banking Department.

Because of the 36% cap, short-term loans here cost less than in most other states. Both payday-style products and installment loans are legal under the same licensing rules. For details on how each works and what you'll actually pay, see New Hampshire Payday Loans, New Hampshire Installment Loans, or compare costs at Rates & Fees. If you'd rather skip high-cost borrowing altogether, check out alternatives available in New Hampshire.

• 36% annual interest rate cap (RSA 399-A:16): Lenders can't charge you more than 36% per year on small consumer loans, which blocks the triple-digit APRs you'll see in states without rate caps.
• Mandatory state licensing (RSA 399-A): Every lender making small loans here needs a license from the NH Banking Department. You can verify a lender before handing over your information using the NH Banking Department licensee search.
• Prohibition on evasion schemes: If an online lender offers you a loan with rates above 36%, they're likely breaking New Hampshire law. The state prohibits structures designed to dodge the rate cap.
• Right to file complaints: You can file a complaint with the NH Banking Department if a lender violates the rate cap or uses deceptive practices. Use the Banking Department complaint process.

Before you share personal information with any lender, review the LendUp scams and safety guide and verify the lender through the NH Banking Department licensee search.