Montana Payday Loans Law

Montana Payday Loans Law

Montana State Information

Legal Status: : Prohibited (Usury Cap)

Loan Terms:

    - Maximum Loan Amount: $300, up to 25% of monthly net income of borrower
    - Loan Term: Max: 31 days
    - Maximum Finance Rate and Fees: 36% APR
    - Finance Charge for 14-day $100 loan: $1.39

Debt Limits:

    - Maximum Number of Outstanding Loans at One Time:
    - Rollovers Permitted: No
    - Cooling-off Period:
    - Repayment Plan:

Collection Limits:

    - Collection Fees: One $30 NSF fee
    - Criminal Action: Prohibited

Where to Complain, Get Information:

    - Regulator: Division of Banking and Financial Institutions
    - Address: 301 South Park, Suite 316, Helena, MT 59601
    - Phone: (406) 841-2920
    - Fax: (406) 841-2930

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