Personal Installment Loans in Oregon
Primo Personal Loans is a direct lender serving Oregon residents, including Portland, Eugene, and Salem. Apply online in minutes for a personal installment loan of up to $50,000, get a decision the same business day, and repay on a fixed schedule you know before you sign.
Oregon installment loans at a glance: Personal installment loans are legal in Oregon and regulated by the Department of Consumer and Business Services under ORS 725.340. You can borrow up to $50,000, with rates capped at 36%. A prepayment penalty is permitted here, so check that term before you sign along with the full APR and payment schedule the lender must disclose. Oregon also allows payday loans.
Rules current as of July 2026.
Personal Installment Loan Rules in Oregon
Governing law: ORS 725.340
Rates & Terms for Personal Installment Loans in Oregon
The maximum allowable APR for personal installment loans in Oregon is 36%, as per ORS 725.340. Loans can be issued up to $50,000 with a minimum term of 31 days. An origination fee of $10 per $100 of the loan amount or $30, whichever is less, is permitted. A license is required to offer these loans.
What a Personal Installment Loan Costs in Oregon
| Loan Amount | Term | APR (est.) | Total Interest | Total to Repay |
|---|---|---|---|---|
| $1,000 | 24 months | 36% | $418 | $1,418 |
| $5,000 | 24 months | 36% | $2,087 | $7,087 |
| $10,000 | 24 months | 36% | $4,174 | $14,174 |
Oregon law allows a finance charge that does not exceed 36% APR for loans up to $50,000 as per ORS 725.340. The lender must provide a Truth-in-Lending disclosure showing the exact APR before signing.
What Oregon Residents Should Know
Oregon residents should be aware that personal installment loans have a fixed APR of 36%. Additional fees may apply, such as origination fees, which are capped by statute.
Consumer Protections in Oregon
Consumers are protected by a cap on late fees, which cannot exceed 5% of the installment or $5, whichever is less. License verification is required under the Oregon Consumer Finance Act, ensuring lenders are authorized to operate.
Prohibited Practices
- False advertising prohibited
- Prohibition against assignment of earnings for loan security
- Charging more than 36% APR
- Charging more than one origination fee per loan
Required Disclosures
- Statement showing loan terms and interest rate
- Notice of complaint filing with Department of Consumer and Business Services
Debt Collection Rules
- NSF fee cap: $20
- Criminal prosecution for non-payment: not permitted
- Default charge not exceeding 5% or $5
Complaint Agency: Department of Consumer and Business Services
Prepayment & Refinancing Rules in Oregon
Understanding your repayment flexibility is important when choosing a personal installment loan in Oregon.
- Prepayment penalties may apply in Oregon. Ask your lender for the exact terms before signing.
Federal Consumer Protections for Installment and Payday Loan Borrowers
| Federal Law | What It Gives You | Citation |
|---|---|---|
| Truth in Lending Act / Regulation Z | Regulation Z protects consumers by requiring clear disclosure of key credit terms and costs. | 15 U.S.C. § 1601 et seq.; 12 CFR Part 1026 |
| Military Lending Act | The MLA caps the annual percentage rate at 36% for loans to active duty service members and their dependents. | 10 U.S.C. § 987 |
| Fair Debt Collection Practices Act / Regulation F | Regulation F governs the practices of debt collectors, prohibiting abusive, deceptive, and unfair practices. | 15 U.S.C. § 1692; 12 CFR Part 1006 |
| Fair Credit Reporting Act / Regulation V | Regulation V ensures accuracy and privacy of consumer credit information held by credit reporting agencies. | 15 U.S.C. § 1681; 12 CFR Part 1022 |
| Equal Credit Opportunity Act / Regulation B | Regulation B prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, or age. | 15 U.S.C. § 1691; 12 CFR Part 1002 |
| CFPB UDAAP authority | The CFPB can take action against unfair, deceptive, or abusive acts or practices in consumer financial products or services. | 12 U.S.C. § 5531, 5536 |
These federal protections apply in all 50 states regardless of state law. They set a baseline floor of consumer rights.
Full detail on each of these six federal protections, including what your lender must disclose before you sign and the 36% rate cap that applies to active-duty service members.
Federal Payday Lending Rules That Apply in Oregon
Federal regulations, such as those from the CFPB and the Military Lending Act, apply in addition to state laws, providing an additional layer of consumer protection.
Oregon Installment Loan Rules: FAQ
Yes. Personal installment loans are legal in Oregon and regulated under ORS 725.340. Lenders must hold a state license to make these loans. A licensed lender has to follow the state's limits on rates, loan size and fees, and disclose your APR, finance charge and full payment schedule before you sign.
In Oregon, the maximum rate on a personal installment loan is 36% under ORS 725.340. That is a ceiling, not a quote: your actual APR depends on the loan amount, the term and the lender, and it must be disclosed in writing before you sign.
In Oregon, a licensed lender may write a personal installment loan of up to $50,000 under ORS 725.340. Individual lenders often approve less than the state maximum based on your income and credit profile. Borrow only what the monthly payment leaves you able to cover.
There can be. Oregon law permits a lender to charge a prepayment penalty on a personal installment loan under ORS 725.340, within statutory limits. Not every lender charges one, so ask for the prepayment terms in writing before you sign if you expect to repay early.
Oregon caps loan fees separately from interest under ORS 725.340. Origination fee: $10 per $100 of the loan amount or $30, whichever is less. Late fee: 5% of installment; max $5. Anything a lender charges beyond these has to be itemised in your agreement, so compare the total finance charge and not just the advertised rate.
Yes. Alongside installment lending, Oregon permits payday loans under ORS 725A.064. A payday loan term there runs up to 31 days. A payday loan is a single lump-sum repayment tied to your next pay date, which makes it a different and usually far more expensive product than an installment loan repaid over months.
