NJ state reference
New Jersey lending rules
New Jersey has 323 Census places covered on Personalloaned, with a combined estimated population of 4,421,422. Personal-loan terms in New Jersey are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.
Advertising disclosure: Personalloaned may receive a referral fee if you apply through a link on this page. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
- Usury cap Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate)
- Payday lending Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed
- State regulator New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders
Sourced rules
Key rules for borrowers in New Jersey
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" |
New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" |
New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" |
New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." |
New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" |
New Jersey Department of Banking and Insurance as of 2026-09-16 |
Cities in New Jersey
We cover 323 Census places in New Jersey. The count and the combined population figures are summed from the US Census Bureau's Vintage 2023 subcounty population estimates (retrieved 2026-09-17).
Common questions