State reference · OK
Oklahoma lending rules
Oklahoma has 590 Census places covered on Paydayloaning, with a combined estimated population of 3,131,291. Payday and small-loan terms in Oklahoma are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.
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The verdict
Prohibited since August 1, 2020: no new deferred deposit (payday) loans may be made
Source: Oklahoma State Courts Network (Oklahoma Statutes, OSCN) · as of 2026-09-16
- Maximum rate
- 6% per annum legal rate in the absence of a contract
- Oklahoma State Courts Network (Oklahoma Statutes, OSCN)
- Licensing
- Oklahoma Small Lender license required (Oklahoma Department of Consumer Credit)
- Oklahoma State Courts Network (Oklahoma Statutes, OSCN)
Rules are quoted from the cited sources. How payday lending is regulated.
Key rules for borrowers in Oklahoma
Quoted from the statute, regulator or agency named in each row.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 6% per annum legal rate in the absence of a contract; parties may agree to any rate authorized by law. Source says: "The legal rate of interest shall be six percent (6%) in the absence of any contract as to the rate of interest" (15 O.S. 266). |
Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Payday lending status | Prohibited since August 1, 2020: no new deferred deposit (payday) loans may be made; all Deferred Deposit Lending Act licenses terminated. Source says: "Beginning on and after August 1, 2020, no new deferred deposit loan may be entered into or transacted by a licensee or other person" and "All Deferred Deposit Lending Act licenses shall be terminated and be deemed to have expired on August 1, 2020" (59 O.S. 3101.1). |
Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Small-loan / installment lender licensing | Oklahoma Small Lender license required (Oklahoma Department of Consumer Credit); separate license per location; 59 O.S. 3150-3150.27. Source says: "no person shall engage in the business of making small loans... unless the person is licensed by the Department of Consumer Credit" (59 O.S. 3150.2). |
Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| State lending regulator | Oklahoma Department of Consumer Credit (OKDOCC) Source says: "The Department is responsible for the regulation of consumer credit sales and consumer loans in the State of Oklahoma." |
Oklahoma Department of Consumer Credit as of 2026-09-16 |
| Small loan rate and principal caps (state-specific rule) | Small loans: interest capped at 17% per month; maximum aggregated principal of $1,500 per customer across all licensees (CPI-adjusted). Source says: "A licensee may only charge and collect a periodic interest rate not to exceed seventeen percent (17%) per month" (59 O.S. 3150.10(B)); max aggregated principal is $1,500 (3150.10(C)). |
Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
Cities in Oklahoma
All Oklahoma citiesWe cover 590 Census places in Oklahoma.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. 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.