Permitted Regulated Verified 2026-09-07 · ver. 0.2.3 How we verify these rules

Installment Loans in New Jersey

Licensed New Jersey consumer lenders may make personal, family or household loans up to $50,000. The current PLS Cash Advance range of $200–$5,000 fits within that framework, with amount-based maximum terms and lender-specific pricing subject to New Jersey and applicable federal limits.

New Jersey legal category: New Jersey Consumer Loan · New Jersey Consumer Finance Licensing Act, N.J.S.A. 17:11C-1 et seq., including 17:11C-32 and 17:11C-35

New Jersey installment loans at a glance

Legal status
Permitted Regulated
Legal category
New Jersey Consumer Loan
Maximum amount in this regime
$50,000
Term
For closed-end consumer loans, the statutory maximum term is 36 months + 15 days at $1,000 or less; 48 months + 15 days above $1,000 through $2,500; 60 months + 15 days above $2,500 through $5,000; longer bands apply above $5,000.
Regulator
New Jersey Department of Banking and Insurance (NJDOBI), Banking Division
Verified
2026-09-07

Choose a loan type by amount

PLS Cash Advance currently presents request amounts from $200 to $5,000. The ranges below are navigation guidance between our state loan guides — not statutory limits, eligibility rules, or a promise of approval.

Not available Unavailable

Payday Loans in New Jersey

The current $200–$5,000 selector routes New Jersey visitors to the licensed installment/consumer-loan guide rather than to a high-cost payday product.

Why unavailable

$200–$5,000 Current guide

Installment Loans in New Jersey

Preferred New Jersey route for the full current amount selector because the traditional high-cost payday product is not a lawful standalone option.

Amount and term limits

A New Jersey consumer lender license covers personal, family or household loans of $50,000 or less, payable in one or more installments. The current PLS Cash Advance selector uses only the $200–$5,000 portion of this broader statutory range.

For closed-end consumer loans, the statutory maximum term is 36 months + 15 days at $1,000 or less; 48 months + 15 days above $1,000 through $2,500; 60 months + 15 days above $2,500 through $5,000; longer bands apply above $5,000.

Interest, fees and repayment

Do not read 30% as a typical market rate or a universal promise. It is the criminal-usury ceiling identified by NJDOBI for non-corporate borrowers, and the governing rate on a particular loan depends on the lender and applicable authority.

The Consumer Finance Licensing Act permits a licensed consumer lender to contract for an agreed APR, while NJDOBI identifies 30% as the criminal-usury ceiling for non-corporate borrowers. Federal preemption and lender-specific authority can affect which rate rules apply.

A consumer loan is payable in one or more installments. Closed-end loans in the current $200–$5,000 offer range also have statutory maximum terms that increase with principal amount.

Rollovers, refinancing and early payment

Rollover allowed?
Not reduced to a yes/no rule
Renewal or refinancing must remain within the Consumer Finance Licensing Act and applicable usury/contract rules; this page does not reduce those rules to a payday-style rollover flag.
Prepayment penalty allowed?
Not reduced to a yes/no rule
New Jersey law permits borrowers to make advance payments on consumer loans; the exact contractual application of payments and any allowed charges should be checked in the loan agreement.

New Jersey borrower protections

  • Consumer lenders making qualifying loans of $50,000 or less must be licensed unless an exemption applies.
  • Closed-end consumer loans have maximum terms tied to the amount borrowed.
  • NJDOBI identifies 30% as the criminal-usury ceiling for non-corporate borrowers, while lender-specific and federal rules can also matter.
  • NMLS Consumer Access provides public license verification.

New Jersey loan cost calculator

Why there is no single statutory calculator: New Jersey consumer-loan pricing depends on lender authority, agreed contract rate, usury rules and possible federal preemption. One statutory calculator would imply more certainty than the law supports.

How to verify a lender in New Jersey

Regulator: New Jersey Department of Banking and Insurance (NJDOBI), Banking Division.

Consumer Lender license

Verify a lender license

Official sources

  1. NJDOBI — Consumer Lenders / Sales Finance Companies · primary
  2. New Jersey Consumer Finance Licensing Act — §§17:11C-32 and 17:11C-35 · primary
  3. NJDOBI — Personal Finance FAQ: New Jersey civil and criminal usury rates · primary
  4. NMLS Consumer Access — New Jersey consumer lender lookup · primary

Last regulatory verification: 2026-09-07. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.