Kentucky Payday loans

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Kentucky Payday loans

Are Kentucky payday loans legal?

Yes according to the law, Kentucky payday loans are legal and as such Kentucky 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 Kentucky payday loan companies, max loan amount is $500. A company also cannot loan 2 payday loans to a person simultaneously and the total of all the existing loans cannot go above $500.

Kentucky Payday loans options

Here is a list of companies that offer Kentucky payday loans or alternatives. Please do your research as each offer has their own advantages and disadvantages.

Advantages of Kentucky Payday loans

  • Many options There are many options available between stores and online vendors for you to get your hands on a Kentucky payday loan.
  • Bad credit ok Even if your credit history is below par there is a good chance you will be approved because what Kentucky 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.

Kentucky Payday loans fees

Kentucky 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 Kentucky payday loan companies can charge $15 for every $100. Max charge on a 14 day $100 loan is $17.65. Max APR on $100 14 day loan is 459%.
  • Collection: Iowa payday loans can charge an NSF fee if the contract mentions it.
  • Rollover charges Rollovers are not permitted in Iowa payday loans so fees do not apply.

How to apply for an Kentucky Payday loans

Kentucky 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

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