Title & Installment Loans in Georgia

Lending rules in Georgia

Rules marked "medium confidence" were checked against a published copy of the statute because the official site was unavailable to us. Confirm them with the official text before relying on them.

General rules

• Charging more than 5 percent interest per month on a loan is a misdemeanor (criminal usury); licensed pawnbrokers are limited only by the pawn statute. Source: O.C.G.A. § 7-4-18(a) · verified Oct 9, 2026 · medium confidence
• The legal rate of interest is 7 percent a year (simple) when no rate is set by written contract. Source: O.C.G.A. § 7-4-2(a)(1)(A) · verified Oct 9, 2026 · medium confidence
• For a loan of $3,000 or less not made under another law, the interest rate cannot exceed 16 percent a year simple interest. Source: O.C.G.A. § 7-4-2(a)(2) · verified Oct 9, 2026 · medium confidence

Payday loans (deferred presentment)

• Payday lending is illegal in Georgia: it is unlawful to make, offer or arrange loans of $3,000 or less unless the lender operates under an exempt law (bank, credit union, Georgia Installment Loan Act, pawn, and similar). Advances disguised as check cashing, sales or agency arrangements are covered. Source: O.C.G.A. § 16-17-2(a)-(b) · verified Oct 9, 2026 · medium confidence
• Making an unlawful payday loan is a misdemeanor of a high and aggravated nature (up to one year in jail or a fine up to $5,000, or both), and each loan is a separate violation. Source: O.C.G.A. § 16-17-2(d) · verified Oct 9, 2026 · medium confidence
• In Georgia payday lending covers all transactions in which funds are advanced to be repaid at a later date, whatever other elements the transaction contains. Source: O.C.G.A. § 16-17-1(a) · verified Oct 9, 2026 · medium confidence

Title loans

• Georgia title loans are pawn transactions on a vehicle title: interest and charges are at most 25 percent of the principal per 30 days for the first 90 days, then 12.5 percent. Source: O.C.G.A. § 44-12-131(a)(4) · verified Oct 9, 2026 · medium confidence
• A title pawnbroker cannot lease the vehicle back to the borrower during the pawn transaction; the borrower keeps the vehicle but the lender holds the title. Source: O.C.G.A. § 44-12-131(a)(2) · verified Oct 9, 2026 · medium confidence

Installment and consumer finance loans

• Making installment loans of $3,000 or less requires a license under the Georgia Installment Loan Act unless the lender is exempt (banks, credit unions, pawnbrokers and others). Source: O.C.G.A. § 7-3-4(a)-(b) · verified Oct 9, 2026 · medium confidence
• A borrower may prepay an installment loan at any time and, if paying in full early, gets a refund of unearned interest. Source: O.C.G.A. § 7-3-14 · verified Oct 9, 2026 · medium confidence

Pawn loans

• A pawn transaction runs for 30 days and can be extended for additional 30-day periods. Source: O.C.G.A. § 44-12-131(a)(1) · verified Oct 9, 2026 · medium confidence
• During the first 90 days a pawnbroker can charge interest and pawnshop charges of at most 25 percent of the principal for each 30-day period (minimum charge up to $10). Source: O.C.G.A. § 44-12-131(a)(4)(A) · verified Oct 9, 2026 · medium confidence
• After 90 days the charge drops to at most 12.5 percent of the principal for each 30-day period (minimum charge up to $5). Source: O.C.G.A. § 44-12-131(a)(4)(B) · verified Oct 9, 2026 · medium confidence

Lenders in Georgia are licensed by the Georgia Department of Banking and Finance (DBF). See also online lenders and apps in Georgia.