Installment Loan Regulations in Wisconsin

Installment loans in Wisconsin are a type of loan residents will often apply for when they are in serious need of money for an emergency situation.

Typical borrowers are ones that have difficulty getting approved for traditional loans or who need money quickly.

An online installment loan is used to cover unexpected expenses for short periods of time. If you need a little extra help to get you through the next few weeks or months, these may be the perfect option to consider.

Once you have applied and been approved, you are able to use the funds you receive for any purpose.

Installment Loan Laws and Regulations in Wisconsin

Wisconsin Department of Financial Institutions
201 W Washington Avenue, Suite 500
Madison, WI 53703
TEL 608.261.9555
FAX 608.261.7200

  • Wisconsin Average APR: 89-449%
  • Statute Citation: Money & Rates of Interest: Chapter 138
  • Regulator: Wisconsin Department of Financial Institutions
  • Interest and Permissible Fees: $9.50 per $100 per year on loans up to $1,000; $8 per $100 per year on remainder
  • Maximum Loan Amount: $3,000
  • Money & Rates of Interest: Chapter 138

What To Know

While installment loans offer their own benefits, there are some things you need to understand before you apply. There are many laws and regulations regarding how lenders may offer these types of loans to borrowers.

Knowing the terms and conditions upfront will allow borrowers to make an informed decision on whether to apply or not.


The government allows each state to make its own laws and regulations regarding installment loans. Wisconsin is no exception.

To be approved for an installment loan in Wisconsin, the borrower must be at least 18 years old and prove they are a citizen of the United States.

The state does not have laws regarding borrowers showing proof of income to get a loan. However, most lenders themselves will require proof of income for approval.

Wisconsin Installment Loan Interest Rates

While many states put caps on how much interest lenders can charge on installment loans, Wisconsin does not have regulations on them. There are also no set eligibility requirements lenders must follow before approving installment loans in Wisconsin.

When reviewing Chapter 138 in the state legislature, it states that installment loans for less than $3,000 will have 36 months and 15 days until reaching maturity.

Lenders are not allowed to charge borrowers more than $9.50 for each $100 they borrow up to $1,000. The remaining principal balance may not be charged more than $8 per $100 borrowed.

Lender Clarification

When obtaining an installment loan estimate, lenders are required to be upfront about the fees and interest they charge on a loan.

It is also legally required for lenders to have signage on their websites or stores warning customers that these loans are for short-term financial purposes only.

They are not intended as a long-term solution for becoming financially stable.

Terms And Loan Amounts For Wisconsin Installment Loans

Most loan terms are for between 90 days to 10 months. Two renewals of a loan are allowed per borrower. The finance charges will be no more than 2.75% per month until the loan is paid off.

The amount of loan funds borrowers can obtain from a Wisconsin lender ranges from $150 to $1,000. The amount you actually get approved for will depend on the information you offer the lender during your application process.

Wisconsin Installment Loan Application Requirements

The application requirements for personal loans in Wisconsin are fairly lax compared to traditional loans from banks and credit unions. Applying for an installment loan online is a relatively quick process.

You will need some basic information to apply such as the following:

  • A valid photo ID issued by the government.
  • Proof of checking account in good standing to receive and pay back funds.
  • Verification of employment and other income.

Once you complete an online application for installment loans or personal loans in Wisconsin, you will obtain a free quote to review.

If you are happy with the quote you receive, a representative from the lender you applied to will contact you at your earliest convenience to discuss the loan and finish the paperwork.

Before you apply, it may be wise to check a lender’s license if you are unsure about the legality of the installment loans they offer.

Applying for a Wisconsin installment loan can be a great option when you need money fast and do not have perfect credit. However, never sign an agreement with a lender unless you understand it fully.

Wisconsin state

Free Quote!

Yes, I agree to “Opt In” to receiving Text, SMS and MMS Messages in communicating account information as well as offers and promotions. By making this selection, I understand and agree to receipt of text, SMS and MMS messages at the mobile number that I provide. I know my selection is not necessary in order to apply for a loan and that I can “Opt Out” at anytime.

I have read and agreed to the Wireless Policy, Privacy Policy and Terms and Conditions.