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This Blog Post is a resource of links to pawn shop interest rate laws by state. Please check with your local pawn shop to confirm their pawn shop interest rates and fees as this page is for informational purposes only and we cannot guarantee its accuracy.
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Alabama Pawn Shops
http://www.banking.alabama.
(a) A pawnbroker may contract for and receive a pawnshop charge in lieu of interest or other charges for all services, expenses, costs, and losses of every nature but not to exceed 25 percent of the principal amount, per month, advanced in the pawn transaction.
Alaska Pawn Shops
https://www.commerce.alaska.
Sec. 08.76.210. Finance fee. (a) Except as provided in AS 08.76.280, for each 30-day period of a pawn transaction, including a grace period, a pawnbroker may charge a pledgor a finance fee of $5 or an amount that equals interest at a rate that does not exceed 20 percent of the amount financed, whichever amount is greater.
(b) A finance fee is considered to be earned on the day that the pawn transaction is entered into and on the first day of each subsequent 30-day period of the pawn transaction.
Sec. 08.76.220. Other charges allowed. (a) Except as provided in AS 08.76.280, a pawnbroker may charge a processing fee of not more than $5 for each pawn transaction for preparing and processing the pawn transaction documentation, for providing law enforcement reports, for paying expenses, for providing other services, and for losses.
Arizona Pawn Shops
http://www.azleg.gov/
A. A pawnbroker may charge or receive interest at a rate not exceeding thirteen per cent per month for the first two months and at a rate not exceeding eleven per cent per month thereafter. A pawnbroker shall prorate interest on a daily basis and shall not impose an additional charge if the pledgor agrees to pay a loan in monthly installments, except that interest for two months may be charged or received if the pledged goods are redeemed within two months of the pawn transaction.
Arkansas Pawn Shops
California Pawn Shops
http://www.leginfo.ca.gov/cgi-
21200.
(a) Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following: (1) Three percent per month on the unpaid principal balance of any loan.
21200.1.
A loan setup fee of five dollars ($5) or 3 percent, whichever is greater, may be charged for each loan. However, the maximum loan setup fee shall not exceed thirty dollars ($30). Loan setup fees are in addition to any other allowed charges.
21200.5. A pawnbroker may charge as prescribed in the following schedule: Schedule of Charges:
SEC. 4.
Section 21200.6 of the Financial Code is amended to read:
21200.6.2 (a) In addition to other allowed charges, at the time property is redeemed or a replacement loan is issued pursuant to Section 21201.5, the pawnbroker may collect a handling and storage charge for pawned articles. The maximum amount that may be charged pursuant to this section is in accordance with the following schedule:
Colorado Pawn Shops
8%
Connecticut Pawn Shops
https://www.cga.ct.gov/
2%
Delaware Pawn Shops
Not Allowed
Florida Pawn Shops
http://www.leg.state.fl.us/
25%
Georgia Pawn Shops
http://dbf.georgia.gov/
25%
Hawaii Pawn Shops
http://codes.findlaw.com/hi/
20%
Idaho Pawn Shops
http://statelaws.findlaw.com/
12%
Illinois Pawn Shops
23%
Indiana Pawn Shops
http://iga.in.gov/legislative/
23%
Iowa Pawn Shops
http://www.lectlaw.com/files/
12%
Kansas Pawn Shops
10%
Kentucky Pawn Shops
http://www.lrc.ky.gov/
22%
Louisiana Pawn Shops
10%
Maine Pawn Shops
https://www1.maine.gov/pfr/
25%
Maryland Pawn Shops
No reference
Massachusetts Pawn Shops
Need Reference
Michigan Pawn Shops
3%
Minnesota Pawn Shops
https://www.revisor.mn.gov/
3%
Mississippi Pawn Shops
http://www.dbcf.state.ms.us/
25%
Missouri Pawn Shops
Need reference
2%
Montana Pawn Shops
http://leg.mt.gov/bills/mca/
25%
Nebraska Pawn Shops
Need reference
Nevada Pawn Shops
http://www.leg.state.nv.us/
13%
New Hampshire Pawn Shops
Need Reference
New Jersey Pawn Shops
https://www.yundle.com/laws/
3%
New Mexico Pawn Shops
http://law.justia.com/codes/
10%
New York Pawn Shops
https://www1.nyc.gov/assets/
4%
North Carolina Pawn Shops
http://www.ncleg.net/
North Dakota Pawn Shops
http://www.legis.nd.gov/
3%
Ohio Pawn Shops
Need Reference 5%
Oklahoma Pawn Shops
https://www.ok.gov/okdocc/
Oregon Pawn Shops
http://www.oregonlaws.org/ors/
13%
Pennsylvania Pawn Shops
http://www.pacode.com/secure/
3%
Rhode Island Pawn Shops
http://webserver.rilin.state.
2.5%
South Carolina Pawn Shops
18.75%
South Dakota Pawn Shops
Need reference
Tennessee Pawn Shops
https://www.lawserver.com/law/
22%
Texas Pawn Shops
http://www.statutes.legis.
15%
Utah Pawn Shops
Vermont Pawn Shops
3% Need Ref
Virginia Pawn Shops
5% Need reference
Washington Pawn Shops
http://apps.leg.wa.gov/rcw/
3%
West Virginia Pawn Shops
3%
Wisconsin Pawn Shops
https://docs.legis.wisconsin.
12%
Wyoming Pawn Shops
http://legisweb.state.wy.us/
7%
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