Payday loans in New York: what's allowed instead
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
New York payday loan rules at a glance
| Governing law | Civil usury: General Obligations Law 5-501 and Banking Law 14-a. Criminal usury: Penal Law 190.40-190.42. Void loans: General Obligations Law 5-511. (GOL 5-501, 5-511; Banking Law 14-a; Penal Law 190.40-190.42) |
|---|---|
| Fees / interest cap | Civil usury cap of 16% a year (loans under $250,000 by non-bank lenders and state-chartered banks); above 25% a year is criminal usury. (GOL 5-501; Banking Law 14-a; Penal Law 190.40) |
Your options in New York
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 New York personal loans.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Status | Max loan |
|---|---|---|
| Connecticut | Not available | — |
| Massachusetts | Not available | — |
| New Jersey | Not available | — |
| Pennsylvania | Not available | — |
| Vermont | Not available | — |
Personal loans by city in New York
Counties in New York
Show all 62 counties
Also see: Personal Loans in New York · Title Loans in New York · All New York loan options
Frequently asked questions
Are payday loans legal in New York?
Payday loans are illegal in New York under both civil and criminal usury laws. Loans above the limits made by non-bank lenders are void and unenforceable, and DFS has told debt collectors it is illegal to try to collect payday loan debts.
How much do payday loans cost in New York?
Civil usury cap of 16% a year (loans under $250,000 by non-bank lenders and state-chartered banks); above 25% a year is criminal usury.
Can I get a payday loan online in New York?
Yes. You can request a payday loan online from anywhere in New York, using your phone or computer. Our secure form takes about 3 minutes and connects you with lenders in our network that serve New York 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.
What do I need to get a payday loan in New York?
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 New York applicants get a decision in minutes.
Can I get a payday loan on the weekend in New York?
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. New York residents can start a request now; it takes about 3 minutes.
Do payday loans in New York affect your credit score?
Usually only a little, if at all. Because many payday lenders don't use a traditional hard credit pull and often don't report to the major bureaus, a payday loan repaid on time typically has little effect on your score. A balance that goes unpaid and reaches collections could hurt it, so borrow an amount you can repay on your due date. New York residents can see their options with our 3-minute form.