No. Payday loans are not allowed in New York. The rules that apply are in N.Y. Penal Law § 190.40 (criminal usury).
The New York rules in brief
| Payday loans | Not allowed |
|---|---|
| Interest rate limit | 16% civil usury cap (NY Banking Law § 14-a; N.Y. Gen. Oblig. Law § 5-501); above 25% is criminal usury in the second degree, a class E felony (NY Penal Law § 190.40); Article IX licensed lenders up to 25% (NY DFS) |
| Statute | N.Y. Penal Law § 190.40 (criminal usury); N.Y. Banking Law § 14-a (civil usury rate) |
Source: N.Y. Penal Law § 190.40 (criminal usury); N.Y. Banking Law § 14-a (civil usury rate) (read the law). We last checked it against the statute on October 3, 2026. See payday loan laws in every state.
What this means for you
Because payday loans aren't allowed in New York, be careful with any payday offer you get there, online or by text, and check the lender with the state's financial regulator before you share bank details. The state's interest rate limits also apply to any personal loan offer you receive.
Looking for a loan in New York?
If you need money in New York, these options are open to you:
- A personal loan. You can send one personal loan request; lenders in our network decide whether they lend in New York. Read how installment loans work first.
- A credit union. Federal credit unions can offer small payday alternative loans with capped rates (NCUA rule). You usually need to be a member.
- Your creditors. If a bill is the problem, ask the company for a payment plan or a later due date before you borrow.
Lenditup is not a lender. Sending a request does not mean you will be approved; each lender sets its own rates and terms within New York law.
Payday loan questions for New York
01What interest rate limit applies to loans in New York?
02What can I use instead of a payday loan in New York?
03Can Lenditup get me a payday loan in New York?
Other loan rules in New York
To compare payday rules across states, use the state payday loan law table, or read how payday loans work.