Installment Loans in Indiana

Amount and term limits

Indiana’s general consumer-loan framework does not reduce to one $5,000 statutory maximum. PLS Cash Advance uses $825–$5,000 only as its current editorial routing range; the legal rules depend on whether the loan is an ordinary consumer loan or a supervised loan and on the lender’s authority.

There is no single universal term for every Indiana consumer loan. For supervised loans within the current adjusted term thresholds, principal up to $1,290 is generally limited to 25 months and principal above $1,290 through $5,200 is generally limited to 37 months; permitted schedules can account for seasonal or irregular income.

Interest, fees and repayment

Current Indiana dollar adjustments make the supervised-loan rate brackets $2,600 and $5,200. Because the law distinguishes ordinary consumer loans from supervised loans and permits additional charges in defined circumstances, one flat APR or fee formula would not accurately describe every Indiana installment loan.

An ordinary consumer loan is generally limited to a 25% annual loan finance charge on unpaid principal. A supervised loan is a consumer loan above 25% and uses a statutory ceiling equal to the greater of the tiered 36% / 21% / 15% calculation on adjusted principal bands or 25% on the entire unpaid principal, plus only separately authorized charges.

Traditional installment lenders are regulated by Indiana DFI. For supervised loans within the statutory amount threshold, repayment may be a single installment or substantially equal installments at equal periodic intervals, with adjustments allowed for seasonal or irregular borrower income. This page focuses on multi-payment use cases.

Rollovers, refinancing and early payment

Rollover allowed?

Not reduced to a yes/no rule
The payday-style renewal rule does not define Indiana consumer installment loans. Refinancing and consolidation are separately regulated under the Uniform Consumer Credit Code and depend on the applicable loan structure.

Prepayment penalty allowed?

Not reduced to a yes/no rule
A consumer borrower generally may prepay the unpaid balance in full at any time without penalty. Indiana has a limited statutory exception for certain loans primarily secured by an interest in land, so this page does not encode a universal “never” flag for every possible secured consumer loan.

Indiana borrower protections

• Indiana DFI regulates traditional installment lenders and provides a public license lookup.
• Ordinary consumer loans are generally capped at a 25% annual loan finance charge; loans above that threshold fall into the supervised-loan framework.
• For supervised loans in the amount range covered by the current adjusted thresholds, Indiana limits the maximum term to 25 or 37 months depending on principal.
• Consumer borrowers generally have a right to prepay in full without penalty, subject to a narrow statutory exception for certain land-secured loans.
• Indiana DFI states that the July 1, 2026 recodification into IC 37 did not change the substance of its existing consumer-credit guidance.

Indiana loan cost calculator

How to verify a lender in Indiana

Regulator: Indiana Department of Financial Institutions (DFI) — Consumer Credit Division.

Indiana Consumer Loan License when licensing is required; DFI lists the application through NMLS

Verify a lender license

Official sources

1. Indiana DFI — Consumer Credit Division · primary
2. Indiana DFI — Consumer Credit Policies and Guidance: 2026 IC 37 recodification notice · primary
3. 2026 Indiana Code Title 37 — Consumer Lending / Indiana Uniform Consumer Credit Code · primary
4. Indiana Administrative Code 750 IAC 1-1-1 — UCCC Current Dollar Adjustments · primary
5. Indiana DFI — Consumer Credit Licensing · primary
6. Indiana DFI — Legal Resources: IC 37-2 and current UCCC dollar adjustments · primary
7. Indiana DFI — Find a License · primary

Last regulatory verification: 2026-09-06. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.