A guide to Payday Loans in Tennessee, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in Tennessee?

A: The relevant citation regarding Payday Loans in the Tennessee State Jurisdiction is Tenn. Code Ann. §45-17-101 et seq. and Tenn. Comp. R. & Regs. § 0180-28-.01

Q: Are Payday Loans legal in Tennessee? 
A: Yes Payday Loans are legal in Tennessee. 

Q: What is the Maximum Cash Advance Loan Amount in Tennessee?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Payday Loan Term in Tennessee?
A: The Maximum Payday Loan Term in Tennessee is 31 days.
 
Q: What is the Maximum Rate and Fee for Cash Advance Loans in Tennessee?
A: The Maximum fee for Cash Advance Loans in Tennessee is the lesser of 15% of the check or $30. 

Q: What is the Finance charge for 14-day $100 payday loan in Tennessee State?
A: The Finance charge for 14-day $100 payday loan in Tennessee is $17.65. 



Q: What is the APR for 14-day $100 payday loan in Tennessee State?
A: The APR charged for 14-day $100 payday loan in Tennessee is 459 percent. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: Yes, you can take a maximum of three payday loans at one time. But from one lender you cannot take more than two loans at one time. 

Q: How many times can the lender rollover my payday loan in Tennessee? 
A: The lender cannot rollover (renew, extend or consolidate) the payday loan. 

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: No the lender cannot initiate a criminal action against the borrower. 

Q: Can I be charged a collection fee for a payday loan?
A: One $30 NSF Fee; Court Costs

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Tennessee Department of Financial Institutions at:

Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville, TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,

Website: http://www.tennessee.gov/tdfi/

Where can I find a payday loan store in Tennessee? 

You can find the store nearest to your location by simply clicking on this link loc: Tennessee