Best Loans in Connecticut, Payday, Auto Title Laws of February 2024

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Last Update: November 2, 2022 Loans By State
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Connecticut’s usury law puts a 12% APR cap on all non-regulated loans. However, lenders registered with Connecticut’s Department of Banking (DOB) can levy APRs upwards of 36% for loans up to $15,000. These include licensed banks, credit unions, and pawnbrokers.

For open-ended loans, licensed lenders can charge up to 19.8%.

For closed-end loans, licensed lenders can charge:

  • $17 per $100 on the first $600.
  • $11 per $100 on any excess from $601 to $1,800 for unsecured loans and loans secured by credit life insurance.
  • $11 per $100 on all secured loans > $1,800.

Connecticut’s check casher law stipulates that licensed businesses cannot charge more than 2% for cashing a check.

Best Bad Credit Loans in Connecticut of February 2024

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 72 Months

Licensed in Connecticut:

Yes

Amount:

$1,000 - $50,000

Min. Credit Score:

300

APR:

5.6% - 35.99%

Approval:

5 Minutes

Terms:

3 - 5 Years

Licensed in Connecticut:

Yes