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Payday Loans in Rhode Island

Compare licensed lenders • Check RI regulations • Apply online

Last updated: June 2026

Max Loan
$500
Cities Covered
0
Legal Status
Legal
Population
1,097,379

Rhode Island Payday Loan Regulations

Max Loan Amount:$500
Max Term:13 days
Typical APR:260%
Cooling-Off:None
Rollover Allowed:Yes

Payday loans in Rhode Island are regulated by DBR. Typical APR 260%.

Important: This information is current as of February 2026. State regulations may change. Always verify with your lender and state regulator before signing a loan agreement.

About Payday Loans in Rhode Island

Payday loans in Rhode Island are regulated by DBR. Typical APR 260%.

Rhode Island is located in the Northeast region of the United States with a population of 1,097,379.

Key Regulations:

  • Maximum APR: 260%
  • Maximum loan amount: $500
  • Maximum term: 13 days
  • Rollovers allowed
  • Regulated by Rhode Island Department of Business Regulation

Regulatory Authority: Rhode Island Department of Business Regulation
Official Website: https://dbr.ri.gov/

Representative Example APR in Rhode Island

Payday and small-dollar loan costs vary by lender, amount, and state rules. The example below shows how fees can translate into APR on a short-term loan.

Loan amount Term Fee per $100 Total repayment Equivalent APR
$500 14 days $15 $575 391%

Example only. Actual APR and total repayment in Rhode Island depend on lender pricing, term length, and state compliance limits.

Cities in Rhode Island

Browse all 0 city pages in Rhode Island

Frequently Asked Questions – Rhode Island

Are payday loans legal in Rhode Island?
Yes, payday loans are legal in Rhode Island. The state is regulated by the Rhode Island Department of Business Regulation, which oversees all payday lenders. Payday loans in Rhode Island are regulated by DBR. Typical APR 260%.
What is the maximum payday loan amount in RI?
The maximum payday loan amount in Rhode Island is $500. Finance charges are capped at Varies by lender. Always verify with your lender before applying.
How long do I have to repay a payday loan in Rhode Island?
In Rhode Island, payday loans typically have a maximum term of 13 days. Some lenders offer installment loans with longer repayment periods. Check specific lender terms.
Can I have multiple payday loans at once in RI?
Payday loans in Rhode Island are regulated by DBR. Typical APR 260%.
How do I find licensed payday lenders in Rhode Island?
All payday lenders in Rhode Island must be licensed by the Rhode Island Department of Business Regulation. You can verify a lender's license at https://dbr.ri.gov/. Only work with licensed lenders to protect yourself.
What documents do I need for a payday loan in RI?
Most Rhode Island payday lenders require: (1) Valid ID (driver's license or state ID), (2) Proof of income (pay stubs or bank statements), (3) Active checking account, (4) Social Security number, (5) Proof of residence.
What is the typical APR for payday loans in Rhode Island?
In Rhode Island, the maximum APR is 260%. Actual APR varies by lender and loan amount. Always review the loan agreement for total cost before signing.
Are there alternatives to payday loans in RI?
Yes. Consider: (1) Credit union loans (often lower rates), (2) Payment plans with creditors, (3) Local assistance programs, (4) Employer cash advances, (5) Friends or family loans. Explore all options before committing to a payday loan.

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Important Legal Notice

This information is current as of January 2026 and is for informational purposes only. Payday loan regulations in Rhode Island may change. Always verify current regulations with the Rhode Island Department of Business Regulation before applying. Credizen is a comparison platform and we do not directly provide loans.

We may earn commission from lenders when you submit a loan request. This does not affect which lenders you are matched with.

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