Permitted Regulated Verified 2026-09-05 · ver. 0.2.3 How we verify these rules

Payday Loans in Florida

Florida permits payday-style lending as regulated deferred presentment transactions. The law separates a standard 7–31 day transaction from a 60–90 day deferred presentment installment transaction, with different amount and fee limits.

Florida legal category: Deferred Presentment Transaction · Florida Statutes, Chapter 560, Part IV (Deferred Presentment)

Florida payday loans at a glance

Legal status
Permitted Regulated
Legal category
Deferred Presentment Transaction
Rule structure
2 encoded variants
Amount / term
Varies by statutory variant
Regulator
Florida Office of Financial Regulation — Division of Consumer Finance
Verified
2026-09-05

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.

$200–$1,000 Current guide

Payday Loans in Florida

Preferred site routing for smaller short-term requests. Florida deferred-presentment law separately limits the standard variant to $500 and the installment variant to $1,000.

$1,000–$5,000

Installment Loans in Florida

Preferred site routing for larger multi-payment requests within the current PLS Cash Advance amount selector. Chapter 516 itself can cover qualifying consumer finance loans up to $25,000.

See Installment Loans

Amount and term limits

Florida has two deferred-presentment variants: a non-installment transaction with a check face amount up to $500, and a deferred presentment installment transaction with a check face amount and outstanding transaction balance up to $1,000, exclusive of permitted fees.

The standard non-installment variant runs 7–31 days. The deferred presentment installment variant runs 60–90 days.

Interest, fees and repayment

These are statutory ceilings, not a statement of typical lender pricing.

Standard: up to 10% of the amount provided. Installment variant: up to 8% of the outstanding transaction balance on a biweekly basis. A direct verification cost may also be charged as allowed by §560.309(8), capped by rule at no more than $5.

The standard variant is due at the end of the agreed deferment period. The installment variant must be fully amortizing with consecutive, nearly equal installments; payment intervals must be at least 13 days and no more than one calendar month, subject to the statutory first-period exception.

Rollovers, refinancing and early payment

Rollover allowed?
No
Rollovers are prohibited. A provider also may not use proceeds of another deferred presentment transaction to redeem, extend, or consolidate the agreement.
Prepayment penalty allowed?
No
Prepayment penalties are prohibited. A drawer may redeem early by paying the outstanding transaction balance and earned fees.

Florida borrower protections

  • A customer may not have more than one outstanding deferred presentment agreement at a time and generally must wait at least 24 hours after terminating one before entering another.
  • For a non-installment transaction, a qualifying customer who cannot pay at the end of the term can receive a 60-day grace period without an additional charge, subject to the consumer-credit-counseling requirements in §560.404(22).
  • For an installment transaction, one scheduled payment may be deferred without an additional fee or charge when the customer gives the notice required by §560.404(23).

Florida loan cost calculator

This calculator is an educational illustration based on the structured rules shown on this page. A statutory ceiling is not a typical market price or an offer from a lender.

How to verify a lender in Florida

Regulator: Florida Office of Financial Regulation — Division of Consumer Finance.

Money Services Business under Chapter 560, Part II or Part III, plus a Declaration of Intent to Engage in Deferred Presentment Transactions

Verify a lender license

Official sources

  1. Florida Statutes §560.402 — Definitions · primary
  2. Florida Statutes §560.404 — Requirements for deferred presentment transactions · primary
  3. Florida Statutes §560.405 — Deposit; redemption · primary
  4. Florida Statutes §560.309(8) — Verification cost ceiling · primary
  5. Florida OFR — Deferred Presentment Provider · primary
  6. Florida OFR — Verify a License · primary

Last regulatory verification: 2026-09-05. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.