CLEARBORROW · PUBLISHED NOVEMBER 12, 2026
Payday loans in Florida: limits, fees and the 60-day grace period
Florida calls payday loans deferred presentment. A single-payment loan can be up to $500, excluding fees; the fee is capped at 10% plus a verification fee of up to $5, and the term is 7 to 31 days. You can have only one outstanding loan, checked in a state database, and must wait 24 hours after repaying before the next. If you cannot repay, you can get a 60-day grace period at no extra charge if you go through credit counseling.
On this page
The rules
| Rule | Florida limit |
|---|---|
| Maximum amount (single payment) | $500, excluding fees |
| Fees | Up to 10% of the amount provided, plus up to $5 verification |
| Term | 7 to 31 days |
| Loans at once | One; 24-hour wait after one ends |
| If you cannot pay | 60-day grace period without additional charge, with credit counseling |
Sources: Florida Statutes §560.404 ↗, Senate staff analysis ↗.
What it costs
| Our example | Fees | Two-week APR |
|---|---|---|
| $500 | $55 ($50 + $5) | 287% |
| $300 | $35 ($30 + $5) | 304% |
| $100 | $15 ($10 + $5) | 391% |
Our arithmetic at the maximum fees.
The 60-day grace period
If you tell the lender you cannot pay in full at the end of the term, Florida law gives you a grace period extending the agreement by 60 days without any additional charge (Florida Statutes ↗). To get it, you must make an appointment with a consumer credit counseling agency within seven days and complete the counseling within the 60 days (Nolo ↗). Ask the lender for the state’s list of approved agencies.
Installment payday loans
Since a 2018 change, Florida also allows deferred presentment installment transactions with a term of 60 to 90 days and fees of up to 8% of the outstanding balance every two weeks, plus a verification fee (Florida House analysis ↗). Compare the total in dollars with the single-payment option.
Cheaper options to compare
- A payday alternative loan from a federal credit union (APR capped at 28%).
- A cash advance app — compare costs with our fee calculator.
- Asking the company you owe for more time or a payment plan.
- If you already owe a payday loan: extended payment plans and getting out of payday debt.
Questions
Can I have two payday loans in Florida?
No. You can have only one outstanding deferred presentment transaction, and lenders must check the state database.
Is the $5 fee part of the 10%?
No. The 10% fee cannot be applied to the verification fee; they are separate.
Where do I check a Florida lender?
The Office of Financial Regulation licenses deferred presentment providers; verify the license on its website.
Sources and limits
- Florida Statutes §560.404: deferred presentment transactions ↗
- Florida Senate analysis of SB 920 (2018): current deferred presentment rules ↗
- Florida House analysis of HB 857 (2018): installment deferred presentment ↗
- Nolo: Florida restrictions on payday lenders (grace period conditions) ↗
Sources checked November 12, 2026. Laws change; confirm with your state regulator before borrowing. This is general information, not legal advice. Worked examples are our own arithmetic. How we use sources.