Personal loans in Indiana
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Indiana personal loan rules at a glance
| Governing law | Indiana Uniform Consumer Credit Code, IC 24-4.5-3 (consumer loans; supervised loans are loans with a finance charge over 25% a year). (IC 24-4.5-3-501) |
|---|---|
| Rate cap | For supervised loans the finance charge may not exceed the greater of (a) 36% a year on the first band of principal, 21% on the second band and 15% above that, or (b) 25% a year on the whole balance. The statute's bands are $2,000 and $4,000, but they are inflation-indexed; from January 1, 2025 they are $2,600 and $5,200. (IC 24-4.5-3-508; 750 IAC 1-1-1) |
| License required | Yes. A person who regularly makes consumer loans (other than small loans or mortgage transactions), or takes assignments of and collects them, must get and keep a DFI license unless exempt (e.g., banks and credit unions). (IC 24-4.5-3-502(3)) |
Bad credit loans in Indiana
Bad credit doesn't automatically rule you out in Indiana. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| Illinois | 36% APR all-in cap on consumer loans; installment lenders up to $40,000. |
| Kentucky | Tiered monthly caps: 3% to $5,000, 2.42% to $10,000, 2.25% to $15,000. |
| Michigan | 25% APR cap for licensed lenders, plus processing fee up to 5%. |
| Ohio | Licensed lenders capped at 21%-28% a year depending on license; Consumer Installment Loan Act 25%. |
Personal Loans by city in Indiana
Counties in Indiana
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Also see: Payday Loans in Indiana · Title Loans in Indiana · All Indiana loan options
Frequently asked questions
Is there a cap on personal loan interest rates in Indiana?
Supervised loans: 36% to $2,600, 21% to $5,200, 15% above (or 25%).
Do personal loan lenders need a license in Indiana?
Yes. A person who regularly makes consumer loans (other than small loans or mortgage transactions), or takes assignments of and collects them, must get and keep a DFI license unless exempt (e.g., banks and credit unions).
Can I get a personal loan with bad credit in Indiana?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Indiana must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
How do installment loans work in Indiana?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Indiana residents can see installment loan offers with our free 3-minute form.
Can I get a personal loan in Indiana with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Indiana residents can see if they qualify for $100 to $5,000 in about 3 minutes.
What credit score do I need for a personal loan in Indiana?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Indiana with our free 3-minute form.
How can I get an emergency loan in Indiana?
Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.