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

Payday Loans in Tennessee

Tennessee permits licensed deferred-presentment loans subject to a $500 aggregate outstanding check-face ceiling, a maximum 31-day agreement, a fee cap of 15% of face amount, and a prohibition on renewal or consolidation into another deferred-presentment loan.

Tennessee legal category: Deferred Presentment Services Transaction · Tennessee Deferred Presentment Services Act, Tenn. Code Ann. Title 45, Chapter 17

Tennessee payday loans at a glance

Legal status
Permitted Regulated
Legal category
Deferred Presentment Services Transaction
Aggregate outstanding check face value
$500
Term
Up to 31 days
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.

$200–$500 Current guide

Payday Loans in Tennessee

Editorial payday route through the statutory aggregate $500 check-face ceiling; actual cash proceeds can be lower than face value.

$500–$5,000

Installment Loans in Tennessee

Editorial installment route above the deferred-presentment ceiling; $5,000 is the current site selector boundary.

See Installment Loans

Amount and term limits

No deferred-presentment licensee or related person may have more than two outstanding checks from one customer at one time, and the aggregate face value may not exceed $500. A borrower’s aggregate face value across permitted outstanding deferred-presentment transactions is also capped at $500.

A deferred presentment services agreement may not exceed 31 days.

Interest, fees and repayment

Tennessee regulates deferred-presentment cost through a face-amount fee ceiling rather than one simple annual-interest cap.

The maximum fee may not exceed 15% of the face amount of the check or internet payday loan.

The transaction is generally due when the deferred check or electronic payment is presented at the end of the agreement.

Rollovers, refinancing and early payment

Rollover allowed?
No
Deferred-presentment loans may not be renewed or consolidated into a new deferred-presentment transaction.
Prepayment penalty allowed?
Not reduced to a yes/no rule
No separate universal prepayment-penalty flag is encoded from the cited deferred-presentment guidance.

Tennessee borrower protections

  • Aggregate deferred-presentment check face value is capped at $500.
  • Agreements may not exceed 31 days.
  • Fees may not exceed 15% of check face amount.
  • Renewal or consolidation into a new deferred-presentment transaction is prohibited.
  • Providers must hold the appropriate Tennessee license.

Tennessee loan cost calculator

Why there is no single statutory calculator: The $500 rule is an aggregate face-value limit across outstanding transactions, not a simple principal maximum, so no new formula calculator is added.

How to verify a lender in Tennessee

Regulator: Tennessee Department of Financial Institutions.

Deferred Presentment license

Verify a lender license

Official sources

  1. Tennessee DFI — Consumer Notice: Deferred Presentment Services Act · primary
  2. Tennessee DFI — Mortgage, Consumer Lending & Money Transmission · primary

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