Iowa Payday Loans Law

Iowa Payday Loans Law

Iowa State Information

Legal Status: Legal

Loan Terms:

    - Maximum Loan Amount: $500
    - Loan Term: Max: 31 days
    - Maximum Finance Rate and Fees: $15: $0-$100 on face amount of check; $10 per $100 thereafter
    - Finance Charge for 14-day $100 loan: $16.67
    - APR for 14-day $100 loan: 433%

Debt Limits:

    - Maximum Number of Outstanding Loans at One Time: Two, $500 total debt
    - Rollovers Permitted: None (cannot repay, refinance or consolidate)
    - Cooling-off Period:
    - Repayment Plan:

Collection Limits:

    - Collection Fees: One $15 NSF fee (exclusive remedy)
    - Criminal Action: Not Specified

Where to Complain, Get Information:

    - Regulator: Iowa Division of Banking
    - Address: Iowa Division of Banking, 200 East Grand Avenue, Suite 300 Des Moines IA 50309
    - Phone: (515) 281-4014
    - Fax: (515) 281-4862

These Iowa payday loans law are basic information to assist your decision to borrow money. This information may be added or modified or canceled by Iowa government without prior notice.