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Kentucky
Deferred Deposit License and Registration Bond

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Coverage Amount: $50,000 - $500,000
Term Length: 1 year
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Kentucky Deferred Deposit Service Bond Guide

If you’re applying for a deferred deposit service license in Kentucky, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To protect consumers from mishandling of funds by payday lenders
  • Who Needs It: Payday lenders in Kentucky
  • Regulating Body: The Kentucky Department of Financial Institutions
  • Required Coverage: $50,000–$500,000, based on number of business locations
  • Premium Rate: 1–10% based on credit score

Learn all about the bond requirements and process in this guide.

What Is a Kentucky Deferred Deposit Service Bond?

A Kentucky deferred deposit service bond protects clients if a deferred deposit provider:

  • Mishandles funds
  • Breaks license regulations
  • Violates other legal obligations

The Kentucky Department of Financial Institutions (DFI) requires this bond as part of the licensing process for businesses that offer deferred deposits, also known as payday loans.  


If you offer check cashing services, you’ll complete a similar, but separate bond form. Please, visit our Kentucky Check Cashing Bond page to apply.

Which Bond Amount Do I Need?

Your required Kentucky bond coverage will correlate directly to the number of cash checking business locations.

# of Business LocationsBond Amount
1$50,000
2–5$100,000
6–10$150,000
11–20$200,000
21–30$300,000
31–40$400,000
41+$500,000

How Much Do Deferred Deposit Service Bonds Cost in Kentucky?

Kentucky deferred deposit service bonds cost a small percentage of the bond amount, typically 1–10%.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$50,000Deferred Deposit License and Registration Bond1 Location
$100,000Deferred Deposit License and Registration Bond2-5 Locations
$150,000Deferred Deposit License and Registration Bond6-10 Locations
$200,000Deferred Deposit License and Registration Bond11-20 Locations
$300,000Deferred Deposit License and Registration Bond21-30 Locations
$400,000Deferred Deposit License and Registration Bond31-40 Locations
$500,000Deferred Deposit License and Registration Bond41+ Locations

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Kentucky deferred deposit service bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll upload the bond directly to NMLS on your behalf and email a copy for your records. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Kentucky Deferred Deposit Service Bond Work? 

As with all surety bonds, a deferred deposit service bond creates a legal contract between three parties: 

  1. Principal: You, the deferred deposit service company owner(s) filing the bond
  2. Obligee: The Kentucky Department of Financial Institutions requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Kentucky Statutes Title XXV § 286.9-040

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your deferred deposit service bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

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