Iowa Payday loans
Are Iowa payday loans legal?
Yes according to the law, Iowa payday loans are legal and as such Iowa payday loan companies have rules they must follow. It means that companies must obtain a license for every location they operate and there are rules regarding interest rates, max loan amounts and so son. In the case of Iowa payday loan companies, loans are max of $500. Refinancing is illegal if you use the money from one loan to pay off another.
Iowa Payday loans options
Here is a list of companies that offer Iowa payday loans or alternatives. Please do your research as each offer has their own advantages and disadvantages.
Advantages of Iowa Payday loans
- Many options There are many options available between stores and online vendors for you to get your hands on an Iowa payday loan.
- Bad credit ok Even if your credit history is below par there is a good chance you will be approved because what Iowa payday loan companies are looking for is a steady job.
- Easy application Application is super easy as all you need to do is to go through an online process and upload documents which will be verified electronically. There is no need for faxing out documents.
- Quick money If your in-store application is successful, you will get the money right away. With online vendors the money is ether deposited the same day or the next day.
Iowa Payday loans fees
Iowa payday loans laws are specific about interest and rates that companies can charge. Please make sure you find out all the details related to charges before you sign on the dotted line.
- APR & fees Iowa payday loan companies can charge $15 for the first $100 and $10 for every additional $100. Max charge on a 14 day $100 loan is $16.67. Max APR on $100 14 day loan is 433%.
- Collection: Iowa payday loans can charge up to $15. There could be extra fees for fraudulent transactions.
- Rollover charges Rollovers are not permitted in Iowa payday loans so fees do not apply.
Remember that if your check bounces, you will pay what is called a NSF fee or non-sufficient funds fee.
How to apply for an Iowa Payday loans
Iowa payday loan applications are easy to do and you can do so by visiting a store or online. Here are some criteria that needs to be met.
- 18 years old minimum
- American citizen or permanent resident
- A job
- Name, DOB, SS#, valid ID
- Address, email, phone
- Employment and income details
- Checking account details