Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
New Hampshire Loan Rules
High-cost payday lending is prohibited in New Hampshire under the NH Small Loan Law, which is enforced by NH State Banking Dept to protect residents from triple-digit interest charges. State law establishes a strict rate cap of 36% APR. Because a typical payday loan nationally charges about $15 per $100 for two weeks—or roughly 391% APR—short-term deferred presentment lenders cannot legally charge payday rates in New Hampshire. Any online payday loan offer advertising triple-digit rates exceeds New Hampshire legal limits, and a borrower must be at least 18 years old to sign a loan contract, as shown in the payday table below.
Borrowers in New Hampshire who need a small loan still have regulated, legal options that comply with state law. Licensed lenders can offer fixed-payment installment loans under the New Hampshire Small Loans Act, where the maximum all-in APR is 36% for a $500 six-month loan, 36% for a $2,000 two-year loan, and 36% for a $10,000 five-year loan, as detailed in the installment table below. Federal credit unions also offer Payday Alternative Loans (PALs) ranging from $200 to $2,000 for 1 to 12 months, with a maximum 28% APR and an application fee up to $20 for members. Use the tables and links below to review every rule enforced by NH State Banking Dept and compare licensed lenders and credit unions in New Hampshire.
Payday loan rules in New Hampshire
| Legal status | Prohibited — rate cap 36% APR |
|---|---|
| Governing law | NH Small Loan Law |
| Fee or rate cap | Capped at 36% APR |
| State regulator | NH State Banking Dept |
| Minimum borrowing age | 18 |
Installment loan rules and APR caps in New Hampshire
| Governing law | New Hampshire Small Loans Act (N.H. Rev. Stat. Ann. § 399-A:1 et seq.) |
|---|---|
| Required license | Small Loan Lender License |
| Max all-in APR ($500 / 6 months) | 36% |
| Max all-in APR ($2,000 / 24 months) | 36% |
| Max all-in APR ($10,000 / 60 months) | 36% |
| Origination fee limit | Must be included within the 36% APR calculation for closed-end installment loans |
| Credit insurance rules | Allowed |
| State regulator | New Hampshire Banking Department |
Before you borrow in New Hampshire
- Verify the lender's license in New Hampshire. Confirm that the lender holds an active state license with NH State Banking Dept before sharing your bank account details or signing an agreement. You can also look up the company on NMLS Consumer Access (nmlsconsumeraccess.org), though not every state uses NMLS for every license type.
- Check the Truth in Lending disclosure box. Under the federal Truth in Lending Act and Regulation Z, every lender must give you a written disclosure showing the APR, finance charge, amount financed, and total of payments before you sign the contract.
- Compare the all-in APR and origination fee to state caps. Make sure the contract's all-in APR and any origination fee stay within the New Hampshire limits shown in the tables above, such as 36% on a $500 six-month installment loan under the New Hampshire Small Loans Act. Covered active-duty servicemembers and their dependents are protected by the federal Military Lending Act, which caps covered credit at 36% Military APR.
- Review your right to cancel and payment stop protections. Check the payday table above to see how rescission (your right to cancel a loan shortly after signing) works in New Hampshire. If you set up recurring electronic bank debits, federal Regulation E lets you stop preauthorized withdrawals by notifying your bank at least 3 business days before the scheduled debit, though this does not cancel the debt.
- Check credit union Payday Alternative Loans (PALs). Before taking a higher-cost non-bank loan, see if you qualify for membership at a credit union in New Hampshire. Under NCUA rules, federal credit union PALs offer $200 to $2,000 for 1 to 12 months with a maximum 28% APR and an application fee of up to $20.
How online and tribal lenders fit New Hampshire law
Online lenders making consumer loans to residents of New Hampshire generally must be licensed by NH State Banking Dept and obey the rate caps set by the NH Small Loan Law and the New Hampshire Small Loans Act, regardless of where the lender is located. You can check whether a website is operated by a licensed lender by contacting NH State Banking Dept in New Hampshire or searching NMLS Consumer Access (nmlsconsumeraccess.org), though not every state uses NMLS for every license type. Some online lenders claim tribal sovereign immunity and argue that New Hampshire usury caps and licensing laws do not apply to their loans. Federal appeals courts have reached different results on tribal immunity in online lending: several decisions (2nd Circuit in 2014 and 2019, 4th Circuit in 2021, and 7th Circuit in 2021) supported states and the CFPB, while one decision (4th Circuit in 2019) found a lender protected by immunity.
Small-dollar lending in New Hampshire by the numbers
- Residents
- 1,387,907
- Median household income
- $100,699
- Loan company offices
- 9
- Loan companies
- 2
- Bank branches
- 384
- Banks
- 44
- Credit unions
- 12
- Pawn shops
- 25
Sources for New Hampshire counts: Financial provider totals come from our state directories, compiled using FDIC data for banks and bank branches, NCUA data for credit unions, company websites and public map listings for loan companies and offices, and Overture Maps data for pawn shops. Resident population and median household income figures come from the U.S. Census Bureau.
Detailed New Hampshire loan guides and local directories
Where to file a lending complaint in New Hampshire
If a lender operating in New Hampshire charges more than the statutory cap, lends without a required state license, ignores your right to cancel, or uses unlawful collection tactics, save copies of your loan contract, Truth in Lending disclosures, and payment records. You can submit a formal complaint to NH State Banking Dept in New Hampshire and to the federal Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. Be aware that no lender or debt collector can have you arrested or jailed for an unpaid consumer debt.
Loan rules FAQ: New Hampshire
Are payday loans legal in New Hampshire?
No, high-cost payday loans are prohibited in New Hampshire under the NH Small Loan Law, which is enforced by NH State Banking Dept across the state. State law sets a rate cap of 36% APR, making triple-digit deferred presentment loans unlawful to offer to New Hampshire residents.
What is the maximum APR on an installment loan in New Hampshire?
Under the New Hampshire Small Loans Act, the maximum all-in APR on an installment loan in New Hampshire depends on the loan amount and repayment period. State rules set the limit at 36% for a $500 six-month loan, 36% for a $2,000 two-year loan, and 36% for a $10,000 five-year loan. Check the installment table above for specific rules on origination fees and credit insurance enforced by NH State Banking Dept in New Hampshire.
What is the minimum age to take out a small loan in New Hampshire?
You must be at least 18 years old to enter into a valid small-dollar loan contract in New Hampshire. This minimum borrowing age applies to both storefront locations and online lenders serving New Hampshire residents. Lenders will ask for government-issued identification to verify your age before issuing Truth in Lending disclosures.
Who regulates small-dollar lenders in New Hampshire?
Non-bank payday and installment lenders in New Hampshire are licensed and supervised by NH State Banking Dept under state law. Borrowers can verify a lender's license status by contacting NH State Banking Dept directly or by searching NMLS Consumer Access at nmlsconsumeraccess.org, though not every state uses NMLS for every license type. At the federal level, the Consumer Financial Protection Bureau (CFPB) also oversees federal lending disclosures and collection practices.
What should I do if a lender in New Hampshire charges more than the law allows?
If a lender charges fees or an APR above the legal limits in the NH Small Loan Law or the New Hampshire Small Loans Act, gather your loan agreement, Truth in Lending disclosure box, and bank statements. Report the violation to NH State Banking Dept in New Hampshire and file a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov. Remember that you cannot be arrested or jailed for an unpaid consumer debt.
How do I stop a lender from taking automatic payments from my bank account?
Under federal Regulation E, you have the right to stop preauthorized recurring electronic debits by telling your bank or credit union at least 3 business days before the scheduled transfer date. Your bank may ask for written confirmation within 14 days of an oral request, and you should also notify the lender in writing that you are revoking authorization. Stopping automatic bank debits prevents further withdrawals, but it does not cancel the debt.
Small-dollar loan rules in neighboring states
How we get our numbers: We review the NH Small Loan Law, the New Hampshire Small Loans Act, and published rules from NH State Banking Dept in New Hampshire to summarize statutory loan limits and licensing rules. For installment loans, we use the maximum all-in APR—including interest, origination fees, and permitted administrative charges—for three standard benchmarks ($500 for 6 months, $2,000 for 24 months, and $10,000 for 60 months), based on state statutes and the state-by-state surveys of the National Consumer Law Center (NCLC). Your CU Partner is an independent educational website, not a lender or loan broker, and does not provide legal advice. Because laws and regulatory interpretations change, please confirm current rules with NH State Banking Dept before borrowing.
Sources: Consumer Financial Protection Bureau (CFPB); National Credit Union Administration (NCUA); NMLS Consumer Access; Electronic Code of Federal Regulations — Regulation Z (12 CFR Part 1026); U.S. Census Bureau; National Consumer Law Center (NCLC).