Installment Loans in Tennessee
Tennessee’s Industrial Loan & Thrift framework provides a regulated multi-payment route for consumer loans. Since July 1, 2025, the maximum effective interest rate on amounts financed of $100 or more is 36% per annum, with separate statutory loan-charge provisions.
Tennessee legal category: Industrial Loan & Thrift Company Loan · Tennessee Code Annotated Title 45, Chapter 5; 2025 Public Chapter 70
Tennessee installment loans at a glance
- Legal status
- Permitted Regulated
- Legal category
- Industrial Loan & Thrift Company Loan
- Maximum amount in this regime
- Industrial Loan & Thrift companies may make covered consumer loans beginning at $100 under the cited interest provision. The $5,000 endpoint here is the PLS Cash Advance selector boundary, not the statutory maximum.
- Term
- Industrial Loan & Thrift loans may use installment repayment; no single universal maximum term is encoded here for every loan in the $500–$5,000 site range.
- Regulator
- Tennessee Department of Financial Institutions
- 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.
Payday Loans in Tennessee
Editorial payday route through the statutory aggregate $500 check-face ceiling; actual cash proceeds can be lower than face value.
Installment Loans in Tennessee
Editorial installment route above the deferred-presentment ceiling; $5,000 is the current site selector boundary.
Amount and term limits
Industrial Loan & Thrift companies may make covered consumer loans beginning at $100 under the cited interest provision. The $5,000 endpoint here is the PLS Cash Advance selector boundary, not the statutory maximum.
Industrial Loan & Thrift loans may use installment repayment; no single universal maximum term is encoded here for every loan in the $500–$5,000 site range.
Interest, fees and repayment
Tennessee’s Industrial Loan & Thrift framework is not a simple 36%-APR-all-in product: the 36% interest ceiling coexists with separately authorized loan charges, so total cost depends on the actual contract.
Effective July 1, 2025, Public Chapter 70 authorizes a maximum effective interest rate of 36% per annum on the unpaid balance where the amount financed is $100 or more. Separate acquisition/service/maintenance charges may be authorized by Chapter 5.
This is a closed-end consumer lending route commonly repaid through scheduled installments under the Industrial Loan & Thrift framework.
Rollovers, refinancing and early payment
- Rollover allowed?
- Not reduced to a yes/no rule
Refinancing and renewal depend on the Industrial Loan & Thrift statute and contract; the deferred-presentment anti-rollover rule does not govern this product. - Prepayment penalty allowed?
- Not reduced to a yes/no rule
No universal prepayment-penalty rule is asserted here from the cited primary sources.
Tennessee borrower protections
- Industrial Loan & Thrift companies are regulated by Tennessee DFI.
- For amounts financed of $100 or more, the maximum effective interest rate is 36% per annum under the 2025 amendment.
- Separate loan-charge provisions mean the interest ceiling should not be presented as an all-in APR ceiling.
- The $5,000 site endpoint is editorial rather than statutory.
Tennessee loan cost calculator
How to verify a lender in Tennessee
Regulator: Tennessee Department of Financial Institutions.
Industrial Loan & Thrift registration
Official sources
- Tennessee General Assembly — Public Chapter 70 / HB0775-SB0694 Industrial Loan & Thrift interest amendment · primary
- Tennessee DFI — Industrial Loan & Thrift · primary
Last regulatory verification: 2026-09-07. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.