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Rates and rules

Delaware Loan Rates and Rules

Who regulates consumer lending in Delaware, how rates are set, and how to check a lender and its rate before you borrow. For new requests SET Financial is not the lender: it connects Delaware residents with third-party lenders who set all rates and terms.

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This page is general information, not a rate quote. Not everyone who applies will be matched or approved.

Who regulates consumer lending in Delaware

Non-bank consumer lenders operating in Delaware are licensed and supervised by the Delaware Office of the State Bank Commissioner under Title 5 of the Delaware Code. For licensed lenders, Delaware law (5 Del. C. 2229) generally lets interest be charged at the rate stated in the loan agreement, so Delaware has no general rate cap for those lenders. SET Financial does not set rates. Each lender in our network sets its own rates, fees, and terms.

Regulator: Delaware Office of the State Bank Commissioner.

How to check a lender before you borrow

Before you sign, confirm your lender is licensed with the Delaware Office of the State Bank Commissioner and review the APR, fees, and total cost written in your loan agreement.

Many consumer lenders are also listed on NMLS Consumer Access, a national database you can search for free to confirm a company's license status and history.

Search NMLS Consumer Access

The four numbers to compare on any offer

A regulator's rules tell you about the lender. These tell you about the loan. Whoever you borrow from, and whether or not you use this site, compare offers on the same four things:

  • APR. The annualized cost including most fees. It is the only number that lets you compare two different loans honestly.
  • Total repayment amount. Principal plus every finance charge over the full term. A lower monthly payment stretched longer often costs more overall.
  • Term and payment schedule. How many payments, how often, and the exact due dates measured against when you actually get paid.
  • Fees and prepayment terms. Origination, late, and returned-payment fees, and whether paying the loan off early saves you interest.

Your loan agreement is the number that governs

Federal Truth in Lending rules require the lender to disclose the APR, finance charge, amount financed, and total of payments on the loan agreement before you sign. Any rate you see in marketing, including on this site, is general information. The figures on your own signed agreement are what actually apply to your loan.

Common questions about Delaware rates

Who regulates consumer installment lenders in Delaware?

Non-bank consumer lenders are licensed and supervised by the Delaware Office of the State Bank Commissioner under Title 5 of the Delaware Code.

Does Delaware cap interest rates on personal loans?

For licensed lenders, Delaware generally allows the interest rate stated in the loan agreement (5 Del. C. 2229), so there is no general rate cap. Always check the APR and fees on your own agreement.

This page is general information about Delaware lending rules, not legal or financial advice, and it is not a rate quote. Rules change; confirm anything that matters to your situation with the Delaware Office of the State Bank Commissioner or a qualified advisor. SET Financial is not the lender on new requests and does not set the rates, fees, terms, or approval decisions of the third-party lenders in its network.

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