Payday Loans in Tennessee
Payday loans are legal in Tennessee, and the state sets the price before any lender does: a $500 cap, Max 31 days, and a $45 maximum fee on a $300 loan. Everything a Tennessee borrower needs to check an offer is on this page.
Cap $500 · Max 31 days
What Tennessee law allows
A $300 payday advance in Tennessee carries up to $45.00 in fees — repay $345.00 (≈391% APR on the 14-day framing). The full statutory picture:
Same math on $500: $75.00 in fees, repay $575.00 — assuming the loan fits the cap.
Payday loans in Tennessee by city
Local guides for the 20 largest Tennessee markets — same statute, same caps, local context:
- Nashville
- Memphis
- Knoxville
- Chattanooga
- Clarksville
- Murfreesboro
- Franklin
- Jackson
- Johnson City
- Bartlett
- Hendersonville
- Kingsport
- Collierville
- Smyrna
- Cleveland
- Brentwood
- Germantown
- Spring Hill
- Columbia
- Gallatin
How a Tennessee payday loan works
- One form. Submit the request — email, name, amount. About two minutes, soft check, free to ask.
- Lenders review it. Those licensed to serve Tennessee decide on your income and checking account — usually within minutes.
- Compare the disclosure. Whatever an offer says, the fee must fit the Tennessee numbers in the table above — that is your legality check.
- Repay once, on payday. One debit on the agreed date — the fee is the entire cost. If the date is wrong, ask about the state's extended payment plan before the due date.
Frequently asked questions
How much can a payday loan in Tennessee be?
The statute caps it at $500 per loan. Lenders cannot legally split one need into several tickets to evade the cap — and any offer above $500 is not a lawful Tennessee payday loan.
What does a $300 payday loan cost in Tennessee?
15% per $100 means a $300 loan carries up to $45.00 in fees — repay $345.00 on Max 31 days. That works out to roughly 391% APR on the two-week framing.
How fast can I get a payday loan in Tennessee?
Decisions arrive in minutes and funding moves by ACH: same business day when a lender approves you before its early-afternoon cutoff, otherwise the next business morning. Weekend applications fund on Monday.
What do I need to qualify in Tennessee?
Three basics: verifiable depositable income, an active checking account in your name, and being 18+ with valid ID. Decisions key on income and account health rather than a credit score, and seeing offers uses a soft check.