Payday loans in Illinois: what's allowed instead
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Illinois payday loan rules at a glance
| Governing law | Payday Loan Reform Act, 815 ILCS 122, as amended by the Predatory Loan Prevention Act, 815 ILCS 123 (P.A. 101-658, effective March 23, 2021). A loan that breaks the PLPA is null and void, and no one may collect or keep any principal, fee, interest or charge on it. (815 ILCS 122; 815 ILCS 123/15-5-5, 15-5-10) |
|---|---|
| Maximum loan | Payments coming due in the loan's first month, together with your other payday loans due that month, may not exceed the lesser of $1,000 or 25% of your gross monthly income. (815 ILCS 122/2-5(e)) |
| Fees / interest cap | 36% APR on the unpaid amount financed, calculated the all-in Military Lending Act way (finance charges plus fees and add-on products count). (815 ILCS 122/2-5(e-5); 815 ILCS 123/15-5-5) |
| Minimum term | 13 days. (815 ILCS 122/2-5(a)) |
| Rollovers / renewals | Prohibited. A repayment plan is still allowed. (815 ILCS 122/2-30) |
| Cooling-off period | If you have had payday loans outstanding for more than 45 days in a row, no payday lender may lend to you for at least 7 days after you pay them all off. (815 ILCS 122/2-5(b)) |
| Loans at one time / database | No new payday loan if you already have 2 payday loans outstanding. Lenders must check a certified consumer reporting service before lending and may charge up to $1 for that check. (815 ILCS 122/2-5(e), 2-10(a-5)) |
| Extended payment plan | Yes. If you still owe on one or more payday loans after 35 days in a row, you can request a repayment plan (until 28 days after the loan's default date). It must give you at least 55 days and at least 4 equal installments at least 13 days apart, with no added finance charges, interest or fees. (815 ILCS 122/2-40) |
| Returned-payment fee | Up to $25, once per check or debit, even if it is returned more than once, and only after the lender has incurred an expense. The lender may present the check or debit no more than twice. (815 ILCS 122/2-10(a)) |
| Criminal charges for bounced check | You cannot be prosecuted in criminal court to collect a payday loan; the contract and a posted store notice must say so. (815 ILCS 122/2-20(b)(4), (c)(1)) |
Your options in Illinois
Payday loans aren't offered by state-licensed lenders here, but you can still request a personal installment loan of $100 to $5,000 through our form. Installment loans spread repayment over several months, so each payment is smaller. See Illinois personal loans.
Credit services / credit access businesses
The PLPA bans any device to evade the 36% cap, including arranging a loan through mail, phone or internet, and treats a company that holds the predominant economic interest in a bank-partner loan as the lender. (815 ILCS 123/15-5-15)
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Status | Max loan |
|---|---|---|
| Indiana | Legal | $825 total outstanding with one lender (single or combined loans), and no single loan over 20% of your gross monthly… |
| Iowa | Legal | A lender may not hold checks from you totaling more than $500 at any one time. |
| Kentucky | Legal | You may have at most two payday loans open at once, and the total cash you receive from all open payday loans may not… |
| Missouri | Legal | Payday loans are loans of $500 or less, and a lender (with its affiliates) may not have more than $500 in payday loans… |
| Wisconsin | Legal | A lender may not make a payday loan that leaves you owing all payday lenders combined more than $1,500 or 35% of your… |
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Counties in Illinois
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Also see: Personal Loans in Illinois · Title Loans in Illinois · All Illinois loan options
Frequently asked questions
Are payday loans legal in Illinois?
Illinois still has a Payday Loan Reform Act, but since March 23, 2021 every consumer loan, including payday loans, is capped at 36% APR (all-in, Military Lending Act method) by the Predatory Loan Prevention Act. IDFPR reports that almost every high-cost payday and auto title lender has surrendered its Illinois license.
How much can you borrow with a payday loan in Illinois?
Payments coming due in the loan's first month, together with your other payday loans due that month, may not exceed the lesser of $1,000 or 25% of your gross monthly income.
How much do payday loans cost in Illinois?
36% APR on the unpaid amount financed, calculated the all-in Military Lending Act way (finance charges plus fees and add-on products count).
How many payday loans can you have at once in Illinois?
No new payday loan if you already have 2 payday loans outstanding. Lenders must check a certified consumer reporting service before lending and may charge up to $1 for that check.
Can you roll over a payday loan in Illinois?
Prohibited. A repayment plan is still allowed.
Do Illinois payday lenders have to offer a payment plan?
Yes. If you still owe on one or more payday loans after 35 days in a row, you can request a repayment plan (until 28 days after the loan's default date). It must give you at least 55 days and at least 4 equal installments at least 13 days apart, with no added finance charges, interest or fees.
Can a payday lender press criminal charges in Illinois?
You cannot be prosecuted in criminal court to collect a payday loan; the contract and a posted store notice must say so.
What do I need to get a payday loan in Illinois?
Most lenders ask for a few basics: you must be a legal adult, with a valid government-issued ID, a steady source of income, an active checking account in your name, and a phone number and email. Some lenders also ask for recent pay stubs or bank statements. Having these ready makes our 3-minute form quick, and many Illinois applicants get a decision in minutes.
Can I get a payday loan online in Illinois?
Yes. You can request a payday loan online from anywhere in Illinois, using your phone or computer. Our secure form takes about 3 minutes and connects you with lenders in our network that serve Illinois residents. If you're approved, funds go straight to your checking account, often by the next business day. There's no cost to apply and no obligation to accept.
How much does a payday loan cost in Illinois?
36% APR on the unpaid amount financed, calculated the all-in Military Lending Act way (finance charges plus fees and add-on products count). Your lender shows the exact fee, total amount to repay, due date and APR before you sign, so you know the full cost upfront. There's no charge to use our form, and you're never obligated to accept an offer. Compare what lenders offer Illinois borrowers in about 3 minutes.
Can I get a payday loan on the weekend in Illinois?
You can submit our online form any time, including nights and weekends, and some lenders review requests right away. Funding depends on banking days, though, so money requested on a Saturday or Sunday typically arrives the next business day. Submitting early helps you get in line for the first available deposit. Illinois residents can start a request now; it takes about 3 minutes.