The Predatory Loan Prevention Act capped all consumer loans at 36% APR in 2021.
What a Cash Advance Costs in Illinois
Illinois' 2021 Predatory Loan Prevention Act caps the all-in cost of any consumer loan, including cash advances, at 36% APR.
Loan Size, Term, and Renewal Rules
That law replaced the state's prior payday-specific fee schedule and applies the same ceiling across virtually every short-term credit product.
| Factor | Rule |
|---|---|
| Rate cap | 36% APR |
| Established | Predatory Loan Prevention Act, 2021 |
Verify current rules with the Illinois Department of Financial and Professional Regulation before applying with any lender — this summary is for general information only, not legal advice.
Comparing Your Options in Illinois
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