OK state reference
Oklahoma lending rules
Oklahoma has 590 Census places covered on Personalloaned, with a combined estimated population of 3,131,291. Personal-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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- Usury cap 6% per annum legal rate in the absence of a contract; parties may agree to any rate authorized by law.
- Payday lending Prohibited since August 1, 2020: no new deferred deposit (payday) loans may be made; all Deferred Deposit Lending Act licenses terminated.
- State regulator Oklahoma Department of Consumer Credit (OKDOCC)
Sourced rules
Key rules for borrowers in Oklahoma
| 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
We cover 590 Census places in Oklahoma. The count and the combined population figures are summed from the US Census Bureau's Vintage 2023 subcounty population estimates (retrieved 2026-09-17).
Common questions