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

Installment Loans in Vermont

Vermont licensed lenders may make installment loans subject to state rate ceilings. For an installment loan not otherwise limited, the ceiling is the higher of a tiered 24%/12% balance formula or 18% APR, and covered loan contracts generally use substantially equal monthly installments.

Vermont legal category: Vermont Licensed Lender Installment Loan · 8 V.S.A. Chapter 73; 9 V.S.A. §41a(b)(5)

Vermont installment loans at a glance

Legal status
Permitted Regulated
Legal category
Vermont Licensed Lender Installment Loan
Maximum amount in this regime
Vermont’s licensed-lender chapter does not impose a single amount ceiling that maps to the PLS Cash Advance selector. The current page focuses on ordinary personal installment requests from $200 through $5,000.
Term
Except for statutory exceptions, loan contracts under the licensed-lender chapter must be repayable in substantially equal consecutive monthly installments of principal and interest combined.
Regulator
Vermont Department of Financial Regulation (DFR), 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 Vermont

PLS Cash Advance routes Vermont’s current $200–$5,000 selector to installment lending rather than presenting a separate high-cost payday product.

Why unavailable

$200–$5,000 Current guide

Installment Loans in Vermont

Preferred route for the full current PLS Cash Advance selector because Vermont’s lawful installment framework covers both smaller and larger personal-loan requests while the payday-style route is rate-restricted.

Amount and term limits

Vermont’s licensed-lender chapter does not impose a single amount ceiling that maps to the PLS Cash Advance selector. The current page focuses on ordinary personal installment requests from $200 through $5,000.

Except for statutory exceptions, loan contracts under the licensed-lender chapter must be repayable in substantially equal consecutive monthly installments of principal and interest combined.

Interest, fees and repayment

The applicable ceiling is a comparison formula, not one flat rate. Actual lender pricing may be lower and other specially secured loan categories can have different statutory limits.

For an installment loan not otherwise limited, Vermont permits up to 24% per annum on the first $1,000 of aggregate balance and 12% on the balance above $1,000, or 18% APR on the aggregate balance, whichever is higher.

Licensed-lender loan contracts generally require substantially equal consecutive monthly installments of principal and interest combined.

Rollovers, refinancing and early payment

Rollover allowed?
Not reduced to a yes/no rule
Renewals and refinances must comply with Vermont licensed-lender and interest-rate rules; no payday-style rollover flag is applied.
Prepayment penalty allowed?
No
A borrower may generally prepay a consumer loan at any time without a prepayment premium or penalty under 9 V.S.A. §45, subject to statutory exceptions.

Vermont borrower protections

  • Lenders generally must be licensed by Vermont DFR unless exempt.
  • Rates cannot exceed the limits in 9 V.S.A. Chapter 4.
  • Covered licensed-lender contracts generally use substantially equal consecutive monthly installments.
  • Additional charges are restricted by 8 V.S.A. §2231 and related provisions.
  • Borrowers may generally prepay without a prepayment premium or penalty.

Vermont loan cost calculator

Why there is no single statutory calculator: Vermont’s installment ceiling requires comparing a tiered 24%/12% balance formula with an 18% APR alternative. A single generic APR calculator would not faithfully represent the statutory maximum.

How to verify a lender in Vermont

Regulator: Vermont Department of Financial Regulation (DFR), Banking Division.

Lender license under 8 V.S.A. Chapter 73 unless exempt

Verify a lender license

Official sources

  1. 9 V.S.A. §41a — Legal rates · primary
  2. 8 V.S.A. §§2230–2231 — Rate and installment requirements · primary
  3. 8 V.S.A. §2233 — Charges and enforceability · primary
  4. 9 V.S.A. §45 — Prepayment of loans · primary
  5. Vermont DFR — Lender licensing · primary

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