Installment Loans in North Carolina

Lending rules in North Carolina

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

• For a loan of $25,000 or less the maximum contract interest rate is the Commissioner's monthly rate: the six-month Treasury bill rate plus 6 percent, or 16 percent, whichever is greater. Source: N.C. Gen. Stat. § 24-1.1(a)(1), (c) · verified Oct 9, 2026 · medium confidence

Payday loans (deferred presentment)

• A licensed check casher may not engage in the business of making loans or extensions of credit, or accepting deposits or bailments of money or items, except as G.S. 53-281 expressly provides. Source: N.C. Gen. Stat. § 53-283(2) · verified Oct 9, 2026 · medium confidence
• A licensed check casher that cashes a check for a fee must deposit it within three business days of cashing it, so it cannot hold the check for later deposit. Source: N.C. Gen. Stat. § 53-280(b) · verified Oct 9, 2026 · medium confidence

Installment and consumer finance loans

• No one may lend or service a loan of $25,000 or less and charge more than Chapter 24 allows without a license from the Commissioner of Banks, except as the Consumer Finance Act authorizes. Source: N.C. Gen. Stat. § 53-166(a) · verified Oct 9, 2026 · medium confidence
• The license rule applies to any device or pretense, including a transaction where a cash rebate or advance of funds is made with the sale of an item or service and must be repaid later. Source: N.C. Gen. Stat. § 53-166(b) · verified Oct 9, 2026 · medium confidence
• A person who is not exempt and violates the Consumer Finance Act commits a Class 1 misdemeanor, and each violation is a separate offense. Source: N.C. Gen. Stat. § 53-166(c) · verified Oct 9, 2026 · medium confidence
• A Consumer Finance Act licensee making an installment loan of $12,000 or less (up to $25,000 total, 12 to 96 months) may charge up to 33 percent a year on the first $4,000 of unpaid balance, 24 percent on the next $4,000 and 18 percent on the rest. Source: N.C. Gen. Stat. § 53-176(a)(1) · verified Oct 9, 2026 · medium confidence
• On a Consumer Finance Act installment loan above $12,000, the cap is 18 percent a year on the outstanding principal balance. Source: N.C. Gen. Stat. § 53-176(a)(2) · verified Oct 9, 2026 · medium confidence

Lenders in North Carolina are licensed by the North Carolina Office of the Commissioner of Banks (NCCOB). You can look up any license in its license search. See also online lenders and apps in North Carolina.