Installment Loan Regulations in Idaho

Installment loans in Idaho are legal though they are not expressly mentioned by any statutes of the Idaho State Legislature.

Installment loans are typically defined as a loan for a set amount of money, borrowed all at one time, which is repaid over a set number of payments called installments.

These loans are often used by individuals with poor credit who do not qualify with traditional financing.


Installment loans in Idaho are also referred to as personal loans. The Idaho State Legislature does have different statutes for payday loans and title loans.

Payday loans are often used to pay for unexpected expenses or in the case of lost income.

Title loans are maintained by allowing a lender to place a lien on their car title in exchange for the loan until the loan is paid off.

Installment Loan Laws and Regulations in Idaho

Idaho Department of Finance
700 West State Street, 2nd Floor
P.O. Box 83720 Boise, ID 83720-0031
TEL 208.332.8000
FAX 208.332.8097

  • Idaho Average APR: 299%
  • Statute Citation: Idaho Credit Code 28-41-201(1)
  • Regulator: Department of Finance
  • Interest and Permissible Fees: What is agreed upon between the parties to the transaction; 5% delinquency charge on the unpaid amount of installment or $12.50, whichever is greater.
  • Maximum Loan Amount: $5,000
  • Idaho Credit Code 28-41-201(1)

Find a Licensed Lender

If a personal loan in Idaho is borrowed from an unlicensed lender, the state of Idaho has limited ability to help if any issues arise. Fraudulent lenders are especially common when taking out an online installment loan.

Before you complete a loan transaction, make sure your lender is licensed by the Idaho Credit Code (ICC). More information on Idaho’s licensing requirements is found here.

Great caution is advised when researching lenders online.

Complaints Against Lenders

If there is an issue or suspect illegal activity with an installment loan lender, the state of Idaho recommends you first file a complaint at the federal level before taking action at the state level.

  1. At the federal level, complaints can be filed with the Federal Trade Commission (FTC) both by phone or online. Additionally, borrowers can address their concerns to the Consumer Financial Protection Bureau.
  2. At the state level, complaints against lenders working in Idaho can be filed here with the Idaho Department of Finance.

Personal loans Idaho can be a quick and convenient way to pay for unexpected expenses. Exercise caution and be familiar with state and local regulations to ensure you are borrowing in a safe and legal way.

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