Need 500 Dollar Loan
When you need to borrow money. The loan amount you need to borrow may be 100 dollar loan, some people need 1000 dollar loan but most people need 500 dollar loan. The maximum loan amount will depend on each borrower's credit history and also depends on the payday loan laws of each state.
500 Dollar Loan by State
Payday loans or Dollar loan are different in any states. Many states severely control the payday loans industry, some state can borrow up to 500 dollar loan or more and in a few states, they are not legal at all. Being familiar with the laws will help you detect whether a loan operator is legit or simply trying to scam you. To be fully informed, check out the legal status of payday loans by state.
We will talk about some states that can borrow 500 dollar loan or more and loan fees.
Alabama - You can borrow money maximum to 500 dollar loan in Alabama and loan fee should not exceed 17.5% of the amount. Also $10 fee for every loan request is permitted. If the loan period expires 3% extra is charged.
Alaska - Maximum loan amount is 500 dollar loan. A lender is only allowed to charge what is known as a nonrefundable originating fee. This fee shouldn’t exceed around $15 for every $100. Also the fee shouldn’t exceed 15% of the borrowed amount. Also $20 additional free for the business’s financial operation can also be charged.
Delaware - Cash advances of a total of 1000 dollar loan is allowed at one time. The fee attached to this loan has no limit.
Idaho - You can borrow loan 500 dollar loan up to 1000 dollar loan in Idaho.
Nevada - Lender is not permitted to make a loan of deferred deposit over 25% of the expected gross of the customer’s monthly salary at the time of taking the loan then you can borrow 500 dollar loan in Nevada.
Texas - If you need 500 dollar loan in Texas, Yes you can and $10 is the originating fee, $48 is the interest fee for every $100 plus there is $12 finance charges for every $100.
This is the example of the state that you can borrow 500 dollar loan but many state can borrow money too.
Many state can borrow money up to 500 dollar loan or more. You should check out the legal status of payday loans by state.
Dollar Loan Rate
Payday loans range in size from $100, $500 to $1,000, depending on state legal maximums. The average loan term is about two weeks. Loans typically cost 400% annual interest (APR) or more. The finance charge ranges from $15 to $30 to borrow $100. For two-week loans, these finance charges result in interest rates from 390 to 780% APR. Shorter term loans have even higher APRs. Rates are higher in states that do not cap the maximum cost.
| Loan Amount | Fee Amount | Total Payment | APR% |
|---|---|---|---|
| $100 | $20 | $120 | 521.42% |
| $200 | $35 | $235 | 456.24% |
| $300 | $50 | $350 | 434.52% |
| $400 | $65 | $465 | 423.66% |
| $500 | $80 | $580 | 417.14% |
| $600 | $95 | $695 | 412.79% |
| $700 | $110 | $810 | 409.69% |
| $800 | $125 | $925 | 407.36% |
| $900 | $140 | $1,040 | 405.55% |
| $1,000 | $155 | $1,155 | 404.10% |
This is Not True Rate & Fees. It's example of loan 14 days, Total Payment and APR%. Payday loans Rate and Fees are different in your state and depend on Direct Lenders. If you need to know true Rate & Fees please contact your Lender.
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