Maximum pawn charges in all 50 states and DC
"First month on $500" applies each state's formula to a $500 loan for one month at the legal maximum. Where we have not verified a single statewide cap, the column says so and the rule column explains why.
| State | Maximum charge | First month on $500 | Grace period |
|---|---|---|---|
| Alabama | 25% a month of the principal, covering interest and all other charges. | $125 | 30 days after the original maturity date; after that the item is forfeited automatically. |
| Alaska | 20% per 30 days, at least $5. | $100 | 30 days after maturity; extensions of up to 30 days each by written agreement. |
| Arizona | 13% a month for the first two months, then 11% a month. | $70 | See statute |
| Arkansas | We have not yet verified a statewide maximum charge for Arkansas pawn loans. | Not verified | See statute |
| California | California caps charges with a table for the first three months and 3% a month after month 3 (Fin. Code §21200.5 and §21201, as described in a 2024 Senate Judiciary analysis). Loans of $2,500 or more are exempt from those limits. | Not verified | See statute |
| Colorado | The repurchase price can be at most the principal plus one fifth of it per month (20% a month). | $100 | See statute |
| Connecticut | 5% a month on loans up to $15, 3% up to $50 and 2% a month above $50. | $10 | See statute |
| Delaware | Interest up to 30% a month. | $150 | See statute |
| District of Columbia | 5% a month for the first six months, 3% a month after that, at least $2 a month, fees included. | $25 | See statute |
| Florida | Up to 25% of the amount financed for each 30-day period (at least $5), including interest of up to 2%. | $125 | 30 days after the maturity date; then the item is forfeited. |
| Georgia | 25% per 30 days for the first 90 days (at least $10), then 12.5% per 30 days (at least $5), interest and fees combined. | $125 | 10 days for general goods (30 days for vehicle titles); a late charge of up to 12.5% of the principal can apply. |
| Hawaii | Up to 20% a month in total (2017 official compilation). | $100 | 30 days after maturity, charged at one thirtieth of the monthly charge per day. |
| Idaho | We have not yet verified a statewide maximum charge for Idaho pawn loans. | Not verified | See statute |
| Illinois | One fifth (20%) a month on loans under $500, one sixth under $1,500, one eighth under $5,000 and one twentieth (5%) from $5,000, all charges included. | $83.33 | See statute |
| Indiana | Indiana moved its consumer credit code to Title 37 on July 1, 2026; we have not yet verified the current pawn charge limit. | Not verified | See statute |
| Iowa | Iowa leaves pawn rates to local ordinances; there is no single statewide cap. | Not verified | See statute |
| Kansas | Up to 10% a month, on loans of up to $5,000. | $50 | See statute |
| Kentucky | Interest up to 2% a month plus a fee of up to one fifth (20%) a month for title, storage, insurance and other costs. | $110 | See statute |
| Louisiana | Interest up to 10% a month plus a service charge of up to 10% a month of the loan. | $100 | The item cannot be sold before the next business day after maturity. |
| Maine | 25% per 30 days on the first $500 and 20% on the rest, for loans up to $8,000. | $125 | See statute |
| Maryland | We have not yet verified a statewide maximum charge for Maryland pawn loans. | Not verified | See statute |
| Massachusetts | Rates are set city by city and approved by the Division of Banks; it has not approved more than 36% APR for loans over $25 (Boston: 3% a month). | Not verified | See statute |
| Michigan | Interest up to 3% a month plus storage of up to $3 a month (2025 compilation). | $18 | See statute |
| Minnesota | Interest up to 3% a month, plus a reasonable storage and service fee that the law does not cap with a number. | $15 | You can still redeem while the item has not been sold to a third party. |
| Mississippi | Up to 25% a month in total, instead of interest and other fees. | $125 | 30 days after the original maturity date; then the item is forfeited. |
| Missouri | Interest up to 2% a month; storage and security fees are allowed on top, without a fixed cap in the law. | $10 | The pawnbroker must keep the item 60 days after default before taking title. |
| Montana | Up to 25% per 30 days, all charges included. | $125 | See statute |
| Nebraska | The Nebraska pawnbroker statutes (Neb. Rev. Stat. §§69-201 to 69-210) do not set a pawn charge; check your city and your ticket. | Not verified | See statute |
| Nevada | Up to 13% a month, plus an initial fee of up to $5. | $70 | See statute |
| New Hampshire | The local licensing board sets the rates and they must be printed on the ticket. | Not verified | See statute |
| New Jersey | Up to 4.5% a month, at least $1.50; a part of a month counts as a month. | $22.50 | See statute |
| New Mexico | For the first 30 days, $7.50 or 10% of the loan, whichever is greater; after that 4% a month on the unpaid principal. | $50 | See statute |
| New York | Up to 4% a month, at least $0.25; a part of a month counts as a month. | $20 | See statute |
| North Carolina | Interest up to 2% a month plus fees of up to 20% a month, capped at $100 the first month, $75 the second and third and $50 after that. | $110 | The item cannot be sold until 60 days after the maturity date. |
| North Dakota | North Dakota usury rules exclude pawn transactions and we have not found a statewide pawn charge. | Not verified | See statute |
| Ohio | Interest up to 6% a month on the unpaid principal, plus storage of up to $6 a month per loan. | $36 | After 3 months without payment, the pawnbroker must mail a notice and wait 30 days. |
| Oklahoma | Tiered monthly charge from the regulator rate chart: 20% on the first $250, 15% up to $500, 10% up to $1,000, 5% up to $5,000 and 3% up to $25,000. | $87.50 | At least 30 days after maturity, at one thirtieth of the monthly charge per day. |
| Oregon | Interest up to 3% a month, plus a one-time setup fee of up to 10% (min $2, max $250) and storage of up to 7% per item (min $2, max $250). | $15 | 30 days. |
| Pennsylvania | Interest up to 6% a year (0.5% a month) plus a service fee of up to 2.5% a month. | $15 | The item cannot be sold until 90 days after maturity, with 30 days notice for loans of $7 or more. |
| Rhode Island | We have not yet verified a statewide maximum charge for Rhode Island pawn loans. | Not verified | See statute |
| South Carolina | Per 30 days: 25% on the first $50, 20% on the next $50, 15% up to $200, 10% up to $1,000 and 5% up to $17,900 (the maximum principal from July 1, 2026). | $67.50 | 60 days after maturity or renewal, with a mailed notice at least 10 days before forfeiture. |
| South Dakota | We have not yet verified a statewide maximum charge for South Dakota pawn loans. | Not verified | See statute |
| Tennessee | Interest up to 2% a month plus a fee of up to one fifth (20%) a month that covers title, storage, insurance and all other costs. | $110 | 30 days after maturity; no extra notice is required. |
| Texas | For July 1, 2026 to June 30, 2027 the one-month charge is 20% of the whole loan up to $276, 15% up to $1,840, 2.5% up to $2,760 and 1% up to $23,000. | $75 | 30 days after the original maturity date, at one thirtieth of the monthly charge per day. |
| Utah | Utah has no general numeric interest ceiling, according to the Department of Financial Institutions. | Not verified | See statute |
| Vermont | 5% a month on loans up to $50 and 3% a month above $50, at least $0.15. | $15 | See statute |
| Virginia | 10% a month on loans up to $25, 7% under $100 and 5% a month from $100. | $25 | 15 days after the 30-day term. |
| Washington | Washington sets fixed charges for loans under $100 and 4% per 30 days from $100, plus a document fee from a table and storage of up to $5 per 30 days. | Not verified | See statute |
| West Virginia | West Virginia pawnshops are licensed locally and we have not verified a statewide charge. | Not verified | See statute |
| Wisconsin | We have not yet verified a statewide maximum charge for Wisconsin pawn loans. | Not verified | See statute |
| Wyoming | Up to 20% a month (at least $5) on loans of up to $3,000. | $100 | See statute |
How to compare
A lower percentage is not always cheaper: some states add storage, setup or firearm fees, and some change the rate after the first months. The pawn loan calculator applies each formula for one to six months.
Pawn tickets must show the finance charge and the annual percentage rate. A 20% monthly charge is 240% a year; 25% a month is 300% a year.
Sources
Each state page cites its statute or regulator. The full list:
- Alabama: Ala. Code §§5-19A-3,5,6,7,8,15
- Alaska: AS08.76.170–.280,.350
- Arizona: A.R.S. §44-1626, A.R.S.§44-1624(A),(B),(D),(F)
- Arkansas: A.C.A.§18-27-204reproducciónoficial2015
- California: Análisis oficial de SB1198 (2024), describe derecho entonces vigente; FC21051,21200,21200.1,21200.5
- Colorado: C.R.S.§29-11.9-101(1)–(3); SB17-228 enacted ch246
- Connecticut: CGS§21-44,§21-45
- Delaware: 24 Del.C.§2316
- District of Columbia: D.C. Code §47-2884.09, D.C.Code §47-2884.13
- Florida: Florida Statutes §539.001(2),(8)–(13),(16)
- Georgia: O.C.G.A.§44-12-131 y §44-14-403
- Hawaii: HRS§445-134.12–.13 (official2017compilation)
- Illinois: 205 ILCS511/15-10 (P.A.103-585)
- Indiana: Indiana DFI
- Iowa: Iowa Code§537.1202(5)
- Kansas: K.S.A.16-719
- Kentucky: KRS226.080
- Louisiana: La.R.S.37:1791, La.R.S.37:1800
- Maine: 30-A M.R.S.Ch183 Subch6; Bureau of Consumer Credit Protection rate charts
- Massachusetts: M.G.L. c.140 §§70–85; DOB approved municipal rate table
- Michigan: MCL446.209–210
- Minnesota: Minn. Stat. §§325J.04,.06,.07,.08
- Mississippi: Miss.Code§75-67-311,313,315
- Missouri: RSMo §367.021, RSMo§367.040
- Montana: MCA31-1-401
- Nebraska: Neb. Rev. Stat. §69-209
- Nevada: NRS 646.050
- New Hampshire: RSA398:11–12
- New Jersey: N.J.S.A.45:22-22; P.L.2013ch213
- New Mexico: NMSA 1978 §56-12-13
- New York: N.Y.GBL§46; reproducción oficialNYC
- North Carolina: N.C.G.S. §66-393, N.C.G.S.§66-387(3),§66-394–395
- North Dakota: N.D.C.C.§47-14-09; DFI Usury Rate
- Ohio: Ohio R.C.§4727.06, Ohio R.C.§4727.11; O.A.C.1301:8-5-07
- Oklahoma: DOCC PB Rate Chart effective 11/1/2021; 59 O.S. §1510, 59O.S.§1510(D) (compilación2022)
- Oregon: Oregon DFR Pawn loans; ORS Chapter 726
- Pennsylvania: Pawnbrokers License Act1937, §§12,14,19,23–24
- South Carolina: S.C.Code§40-39-70,80,100,110, SC Consumer Affairs dollar adjustments 2026
- Tennessee: T.C.A. §45-6-210; CTAS-410, T.C.A.§45-6-209,211,213; CTAS409
- Texas: OCCC Pawn Rate Chart July 1, 2026–June 30, 2027, Texas Finance Code §§371.158–.169
- Utah: Utah consumer credit law, §70C-7-106; DFI Interest Rates
- Vermont: 9 V.S.A. §§3867–3868
- Virginia: Va.Code§54.1-4004–4011
- Washington: RCW19.60.060–061
- Wyoming: W.S.40-14-359–361
Questions
Which state has the lowest pawn rates?
Among the states with a single statewide cap, Pennsylvania (0.5% a month interest plus a 2.5% service fee) and Missouri (2% a month interest, with storage fees allowed on top) have some of the lowest caps. In practice the total cost also depends on the fees each state allows.
Is the APR on a pawn loan really over 100%?
Often, yes. A 20% monthly charge is 240% a year. The pawn ticket must show the finance charge and the annual percentage rate under the federal Truth in Lending Act.