Additional verification charges might likewise be charged. Prepayment penalties restricted. Hawaii $600 32 days optimal Check casher cost can't go beyond 15% face quantity of check. Idaho $1,000 n/a Can't offer a loan that surpasses 25% of borrower's gross regular monthly earnings. Illinois $1,000 or 25% of customer's gross month-to-month income for single payment loan 120 days optimum (minimum 13 days) Can't charge more than $15.50 per $100 lent.
There are also restricts on whether a lending institution can make a payday loan to a customer based on how much other payday loan debt they currently have. Indiana $550 Minimum 14 days Limited to 15% on first $250 of principal. Restricted to 13% of the amount over $250 for loans from $250-$400.
Iowa $500 31 days maximum Can't surpass $15 on $100 money advance or more than $10 on following $100 increments. Kansas $500 thirty days optimum (7 days minimum) Can't surpass 15% of cash advance amount. Contract rate can't be more than 3% each month of loan profits after maturity date.
Kentucky Limit 2 payday advances per client for $500 overall 60 days optimal Can't go beyond $15 per $100 loan amount. $1 per deal charge for required loans for payday information to be submitted. Louisiana $350 1 month optimal Can't exceed 16.75% of money advance. Can't go beyond $45. Extra guidelines and interest charges use if the loan stays unpaid after the agreement matures.
Michigan $600 31 days maximum
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