California Payday Loans - $300 Maximum & 15% Fee Cap (2026)
π California Payday Loan Quick Facts
- Maximum Loan: $300 (strictest amount cap in USA)
- Maximum Fee: 15% ($45 for $300 loan)
- APR: 195% for 31-day loan (lowest among major states)
- Maximum Term: 31 days
- One Loan Rule: Only 1 payday loan at a time (enforced by database)
- Rollover/Renewal: Prohibited by law
- Regulator: California DFPI (Department of Financial Protection and Innovation)
California $300 Maximum Payday Loan Law
California has the strictest payday loan regulations in the United States. The California Deferred Deposit Transaction Law (California Financial Code Section 23000-23106) caps payday loans at $300 maximum and limits fees to 15% of the loan amount. These consumer protections make California one of the safest states for payday loan borrowers.
Key California Payday Loan Regulations
$300 Maximum Loan Amount
Strictest amount cap in the USA. No lender can offer more than $300, regardless of income or credit score.
15% Fee Cap
Maximum fee: 15% of loan amount. For $300 loan: $45 fee (195% APR for 31 days). Lowest fee cap among major payday loan states.
31-Day Maximum Term
Maximum loan term is 31 days. Most lenders offer 14-day or 31-day terms aligned with paychecks.
One Loan at a Time
California prohibits having multiple payday loans simultaneously. Enforced by statewide database check.
No Rollovers or Renewals
California prohibits extending or renewing payday loans. Must repay in full on due date.
DFPI Licensing Required
All lenders must be licensed by the California Department of Financial Protection and Innovation. Unlicensed lending is a crime.
Strong Consumer Protections
California enforces strict penalties for lenders violating the law: license revocation, fines up to $25,000 per violation, and criminal charges.
β Why California Has the Strictest Payday Loan Laws
California lawmakers enacted strict payday loan caps in 2002 after studies showed high default rates and debt cycles in states with unlimited loan amounts and fees. The $300 cap limits exposure, the 15% fee cap prevents predatory pricing, and the one-loan-at-a-time rule prevents debt stacking. California has one of the lowest payday loan default rates in the USA (under 3%) due to these protections.
How Much Do California Payday Loans Cost?
California law caps payday loan fees at 15% of the loan amount. Here is what you can expect to pay:
| Loan Amount | 15% Fee | Total Repayment | APR (31 days) | APR (14 days) |
|---|---|---|---|---|
| $100 | $15 | $115 | 195% | 391% |
| $150 | $22.50 | $172.50 | 195% | 391% |
| $200 | $30 | $230 | 195% | 391% |
| $250 | $37.50 | $287.50 | 195% | 391% |
| $300 (max) | $45 | $345 | 195% | 391% |
Note: APR is calculated annually but you only borrow for 14-31 days. The actual cost is the fee ($45 for $300), not the full APR. California law prevents rolling over loans, so you cannot compound costs like in Texas.
π‘ California vs Other States Cost Comparison
| State | Max Loan | Max Fee | Cost for Max Loan | APR (31 days) |
|---|---|---|---|---|
| California | $300 | 15% | $45 | 195% |
| Florida | $500 | 10% + $5 | $55 | 234% |
| Texas | No limit | 20%+ | $100+ (for $500) | 426%+ |
| Ohio | $1,000 | 10-15% | $100-150 (for $1,000) | 120-180% |
California advantage: While the $300 cap is low, the 15% fee is the most affordable in the USA. A $300 CA loan costs $45 vs $60 in TX (20%) or $55 in FL (11% effective).
Top 10 Payday Lenders in California (2026)
These lenders are licensed by the California DFPI and comply with the $300 maximum and 15% fee cap:
1. Check Into Cash
Most LocationsWhy it is great for California: 200+ California locations statewide (most in CA). Online and in-store options. Same-day approval and funding. Strictly complies with all California regulations.
- β’ Amount: $100-$300 (CA maximum)
- β’ Fee: 15% ($45 for $300)
- β’ Locations: 200+ stores in California
- β’ Funding: Same-day (in-store) or next-day (online)
2. CashNetUSA
Why it is great for California: Fully online application, no store visit required. Clear fee disclosure (15% flat). First-time borrower resources. Automatic database check during application.
- β’ Amount: $100-$300
- β’ Fee: 15% (state maximum)
- β’ Approval: 15 minutes online
- β’ Funding: Next business day
3. ACE Cash Express
Why it is great for California: 150+ California stores with extended hours. Instant approval and cash pickup. Offers both payday loans and installment loans for larger amounts.
- β’ Amount: $100-$300
- β’ Fee: $45 for $300 (15%)
- β’ Locations: 150+ California stores
- β’ Hours: Many open 24/7
4. Advance America
Why it is great for California: National lender with 80+ California stores. Free financial education resources. Clear disclosure of California regulations and borrower rights.
- β’ Amount: $100-$300
- β’ Fee: 15% (state cap)
- β’ Locations: 80+ California stores
- β’ Education: Free budgeting resources
5. Speedy Cash
Why it is great for California: Guaranteed same-day funding if you apply before 2 PM on weekdays. 100+ California locations plus online option.
- β’ Amount: $100-$300
- β’ Fee: $45 for $300
- β’ Funding: Same-day (before 2 PM)
- β’ Locations: 100+ in California
6. MoneyLion
Why it is great for California: App-based lender with instant approval. Offers instacash advances (not traditional payday loans, lower fees). Credit-builder program included.
- β’ Amount: $25-$300
- β’ Fee: Membership-based (lower than 15%)
- β’ Platform: Mobile app only
- β’ Bonus: Credit monitoring included
7. Possible Finance
Why it is great for California: Installment structure (4 bi-weekly payments) instead of lump sum. Reports to credit bureaus to help build credit. Lower APR than traditional payday loans.
- β’ Amount: $50-$300
- β’ Fee: Lower than 15% (installments)
- β’ Repayment: 4 payments (bi-weekly)
- β’ Credit Building: Reports to all 3 bureaus
8. NetCredit
Why it is great for California: Installment loans (not payday) with lower APR (34-155% vs 195%). Better for larger amounts or longer repayment. Not subject to $300 cap.
- β’ Amount: $1,000-$10,000 (not payday loan)
- β’ APR: 34-155%
- β’ Term: 6-60 months
- β’ Best For: Need more than $300
9. RISE Credit
Why it is great for California: APR reduction program - rate decreases with each on-time payment. Good for building credit history. Installment loans (not subject to CA payday loan cap).
- β’ Amount: $500-$5,000
- β’ APR: 60-299% (decreases over time)
- β’ Term: 4-26 months
- β’ Loyalty Rewards: Lower APR with each loan
10. OppFi (formerly OppLoans)
Why it is great for California: Installment loans for bad credit (under 600 score). Lower APR than payday loans. Reports to credit bureaus. Not subject to $300 payday cap.
- β’ Amount: $500-$4,000
- β’ APR: 59-160%
- β’ Term: 9-36 months
- β’ Best For: Bad credit, credit building
Alternatives to Payday Loans in California
Since California limits payday loans to $300, many borrowers need alternatives for larger amounts or longer repayment:
π³ California Credit Unions (PALs)
Payday Alternative Loans (PALs) from California credit unions offer $200-$2,000 at 28% APR maximum. Much lower cost than payday loans.
- β’ Amount: $200-$2,000
- β’ APR: 28% maximum (vs 195% payday)
- β’ Term: 1-12 months
- β’ Requirement: Credit union membership
π± Cash Advance Apps
Apps like Dave, Earnin, and Brigit offer $25-$500 advances with $0-8 fees. Much cheaper than payday loans for small amounts.
- β’ Amount: $25-$500
- β’ Fee: $0-8 (vs $45 payday)
- β’ Speed: Instant (debit card) or 1-2 days
- β’ Requirement: Regular direct deposit
π¦ California Installment Loans
Installment loans from lenders like NetCredit or RISE offer $1,000-$10,000 at 34-299% APR. Not subject to CA $300 payday cap.
- β’ Amount: $1,000-$10,000
- β’ APR: 34-299%
- β’ Term: 6-60 months (monthly payments)
- β’ Requirement: Regular income, CA residency
π€ California Hardship Programs
California offers state-funded emergency assistance programs for rent, utilities, and food. Free alternatives to payday loans.
- β’ CalWORKs: Cash assistance for families
- β’ LIHEAP: Utility bill assistance
- β’ CalFresh: Food assistance (SNAP)
- β’ 211 California: Free referral to local programs
Frequently Asked Questions
What is the maximum payday loan amount in California?
California law caps payday loans at $300 maximum. This is the strictest loan amount limit in the United States. You cannot borrow more than $300 from any payday lender in California, regardless of your income or creditworthiness. California law also caps fees at 15% of the loan amount, so the maximum fee is $45 for a $300 loan. If a lender offers you more than $300 or charges more than 15%, they are operating illegally in California.
How much do payday loans cost in California?
California payday loans cost a maximum of 15% of the loan amount. For the maximum $300 loan for 31 days (the most common term), you pay $45 in fees, totaling $345 repayment. This equals 195% APR for 31 days. The 15% fee cap is set by California law (California Deferred Deposit Transaction Law) and cannot be exceeded by any lender. California has one of the lowest payday loan costs in the USA due to this strict fee cap.
Who regulates payday lenders in California?
The California Department of Financial Protection and Innovation (DFPI) regulates payday lenders in California. All payday lenders must be licensed by the DFPI and comply with the $300 maximum, 15% fee cap, and 31-day maximum term. You can verify a lender license at dfpi.ca.gov or call 866-275-2677. Unlicensed lenders are illegal in California and may be subject to criminal prosecution.
Can I have multiple payday loans at once in California?
No, California law prohibits having multiple payday loans simultaneously. You can only have one payday loan at a time in California. Lenders check a statewide database before approving loans to ensure you do not have an outstanding payday loan. If you apply for a second loan while the first is unpaid, the application will be automatically denied. This rule prevents debt stacking and over-borrowing.
What is the maximum term for a California payday loan?
California payday loans have a maximum term of 31 days. Most lenders offer 14-day or 31-day terms aligned with bi-weekly or monthly paychecks. There is no minimum term required by California law, but lenders typically require at least 7 days. The 31-day maximum prevents lenders from extending loans indefinitely and charging additional fees. If you need longer repayment, consider an installment loan instead.
Can I roll over or renew a payday loan in California?
No, California law prohibits loan rollovers and renewals. You must repay your payday loan in full on the due date. If you cannot repay, you can request a payment plan from the lender, but the lender is not required to offer one by law (unlike Florida). Rolling over is illegal in California and can result in criminal charges for check fraud if you default. Always plan to repay on time or seek alternatives.
Do California payday lenders check credit?
No, most California payday lenders do not check traditional credit bureaus (Equifax, Experian, TransUnion). They verify your identity, income (bank account or pay stubs), and check the California payday loan database to ensure you do not have an outstanding loan. This means you can get approved with bad credit (500-600 score) or no credit history, as long as you meet California residency and income requirements.
How do I file a complaint about a California payday lender?
File complaints with the California DFPI online at dfpi.ca.gov/file-a-complaint or call 866-275-2677. Common complaints: charging more than 15% fee, exceeding $300 maximum, violating the one-loan-at-a-time rule, operating without a DFPI license, or misleading advertising. The DFPI investigates complaints and can revoke lender licenses or refer cases for criminal prosecution. You can also file with the Consumer Financial Protection Bureau at consumerfinance.gov.
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California Payday Loan Disclaimer
This guide is for educational purposes and does not constitute legal or financial advice. California payday loan laws are subject to change. Always verify lender licensing with the California DFPI at dfpi.ca.gov before borrowing.
Payday loans are high-cost, short-term products intended for emergencies only. The $300 maximum and 15% fee cap are set by California law and cannot be exceeded. If you need more than $300, consider installment loans or credit union PALs as alternatives.
Credizen.net is a loan comparison platform and earns commissions from lenders. We are not a lender and do not make credit decisions. For questions about California payday loan regulations, contact the California DFPI at 866-275-2677 or visit dfpi.ca.gov.