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Rates and rules

Indiana Loan Rates and Rules

Who regulates consumer lending in Indiana, 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 Indiana 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 Indiana

Consumer lending in Indiana is governed by the Indiana Uniform Consumer Credit Code (IUCCC) and overseen by the Consumer Credit Division of the Indiana Department of Financial Institutions. Lenders who make consumer loans in Indiana and are not exempt supervised financial organizations must hold the appropriate license, generally applied for through the Nationwide Multistate Licensing System (NMLS). The IUCCC sets the finance charges a licensed lender may impose, and Indiana's separate criminal loansharking statute makes charging interest above 72% a felony. SET Financial does not set rates. The lender you are matched with discloses your actual APR, fees, and terms before you sign.

Regulator: Indiana Department of Financial Institutions (DFI), Consumer Credit Division.

How to check a lender before you borrow

You can confirm a lender is licensed by checking the Indiana Department of Financial Institutions or the NMLS Consumer Access database, and you should always review the APR, fees, and total cost stated in your loan agreement before signing.

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 Indiana rates

Who regulates consumer loans in Indiana?

Consumer loans in Indiana are governed by the Indiana Uniform Consumer Credit Code (IUCCC) and overseen by the Consumer Credit Division of the Indiana Department of Financial Institutions. Lenders making consumer loans in Indiana must generally be licensed unless they are exempt supervised financial organizations.

What interest rate or APR can I expect in Indiana?

Rates depend on the lender, your financial profile, the loan amount, and the term, so SET Financial cannot quote a rate. Finance charges are governed by the IUCCC, and Indiana's loansharking law makes charging interest above 72% a felony. Your exact APR appears in the loan agreement from your matched lender.

This page is general information about Indiana 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 Indiana Department of Financial Institutions (DFI), Consumer Credit Division 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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