Louisiana payday loan fees look small on paper — a percentage here, a flat fee there — but on a two-week loan they translate into some of the highest APRs in consumer finance.
Quick answer: Louisiana payday lenders can charge up to 16.75% of the check's face amount plus a documentation fee. On a two-week loan that math produces APRs in the 400%+ range — among the highest costs of any credit product.
The fee structure
Lenders may charge up to 16.75% of the face amount of your check, plus a documentation fee. Since Act 510 removed the old $45 total-fee cap, larger loans now carry proportionally larger fees: roughly $59 on a $350 loan and about $117–$120 at the current $720 maximum.
Why the APR is so high
APR annualizes cost. Paying about $30 to borrow $100 for 14 days equals an APR near 780%; statewide averages for typical loans run around 400%. The short term is what inflates the number — and what makes repayment hard.
Other charges to know
- NSF fee: if your check bounces, one NSF fee plus the greater of $25 or 5% of the check may apply.
- After default: interest of 36% per year for months 1–12, then 18% thereafter.
Frequently asked questions
16.75% of the check’s face amount plus a documentation fee; the old $45 total cap no longer applies.
Commonly 400%+ once annualized; a 14-day $100 loan can reach about 780% APR.
Yes — up to 36% annually for the first year, then 18%.
Educational content, not financial advice. Always verify a lender is licensed by the Louisiana Office of Financial Institutions (OFI) before borrowing.