Payday Loans in Oto, Iowa

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No payday loan companies in Oto, IA. Consider companies in other cities:

Company nameAddressZip codePhone number
Check Into Cash 50 La Frentz Ln Suite C, Marshalltown, IA 50158 +1 (641) 752 - 2806
Pilot Grove Savings Bank 516 Main St, Houghton, IA 52631 +1 (319) 469 - 6151
Union State Bank 112 N Main St, Bridgewater, IA 50837 +1 (641) 369 - 2741
Luana Savings Bank 100 Harvest Dr, Luana, IA 52156 +1 (563) 539 - 2166
Advance America 1821 22nd St #104, West Des Moines, IA 50266 +1 (515) 440 - 3016
Check Into Cash 524 1st Ave, Perry, IA 50220 +1 (515) 465 - 7894
Thrivent Financial-Stensland/Truesdell/Fopma/Severson 619 Elm Ave 4, Story City, IA 50248 +1 (515) 733 - 0739
Thrivent Financial-Lutherans 12580 Brentwood Ct, Peosta, IA 52068 +1 (563) 582 - 0781
County Bank 500 N Highland St, Williamsburg, IA 52361 +1 (319) 668 - 2888
Community State Bank 801 W Main St, West Branch, IA 52358 +1 (319) 643 - 3155

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Oto, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Council Bluffs, IA, Payday Loans in Davenport, IA, Payday Loans in Des Moines, IA, Quick Loan in Dubuque, IA, Payday Loans in Iowa City, IA, Payday Loans in Marion, IA, Guaranteed Loans in Sioux City, IA and Payday Loans in Urbandale, IA. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Oto, IA.

Beautiful sights of Oto, IA

Payday Loans Available in Oto, IA By The Following ZIP Codes:

51044

Are Payday Loans Legal In Oto, Iowa?

Loan Rates and Fees, Laws and Regulations in Iowa.

Iowa Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)337
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges$15 on the first $100 + >$10 on subsequent $100

Oto, IA payday loan calculator

Payday Loans in Oto, Iowa: What You Need to Know

When financial emergencies happen and you need funds fast, payday loans can provide a convenient solution. These short-term loans are meant to help you get by until your next paycheck arrives. But if you live in Oto, Iowa, you may be wondering what your options are when it comes to payday loans.

Are Payday Loans legal in Iowa?

Yes, payday loans are legal in Iowa. However, there are certain regulations in place to protect borrowers. The Iowa Division of Banking is responsible for overseeing payday lenders in the state and ensuring they operate within the law. Some key regulations include:

  • Payday loans must have a maximum term of 31 days
  • The maximum loan amount is $500
  • Lenders cannot charge more than $15 in fees for a loan up to $100, or $10 for each additional $100 borrowed
  • Borrowers are limited to two loans at a time

It’s important to remember that payday loans are a short-term solution and should not be used as a long-term financial strategy. They can come with high interest rates and fees, so it’s important to only borrow what you can afford to pay back.

How to Apply for a Payday Loan in Oto, Iowa

If you need a payday loan in Oto, Iowa, you have a few options. You can choose to apply in-person at a local lender, or you can apply online through a lender or a loan connector service like TheGuaranteedLoans.

If you choose to apply online, you can fill out an application on TheGuaranteedLoans website and be connected with potential lenders who may be able to offer you a loan. It’s important to note that TheGuaranteedLoans is not a direct lender and does not make credit decisions. Instead, we facilitate connections between borrowers and potential lenders.

Interest Rates and Fees for Payday Loans in Oto, Iowa

The interest rates and fees for payday loans in Oto, Iowa are regulated by the state and capped at certain amounts. As mentioned above, lenders cannot charge more than $15 in fees for a loan up to $100, or $10 for each additional $100 borrowed. This means that the total cost of your loan will depend on the amount you borrow and the fees you are charged.

It’s important to read the terms and conditions of any loan you are considering and understand the fees and interest rates charged. If you have any questions or concerns, don’t hesitate to contact the lender or loan connector service.

Benefits and Risks of Payday Loans

Payday loans can offer a quick and convenient solution to short-term financial challenges. They can be used to cover unexpected expenses or bridge the gap until your next paycheck arrives. However, they are not without risks.

Because payday loans come with high interest rates and fees, they can be expensive to pay back. If you are unable to repay the loan on time, you could face additional fees and interest charges, which can quickly add up and become unmanageable.

Additionally, payday loans can be a cycle of debt if you continuously need to borrow money to cover expenses. It’s important to only take out a payday loan if you can afford to repay it on time and have a plan for how to manage your finances moving forward.

Interesting Facts and Statistics about Payday Loans in Oto, Iowa

  • The average payday loan amount in Iowa is $315
  • There are over 220 payday lenders in Iowa, serving 150,000 borrowers annually
  • The average interest rate for payday loans in Iowa is 328%
  • In 2019, Iowa lawmakers passed the Iowa Consumer Protection Act, which strengthened regulations on payday lending

Apply Now for a Payday Loan in Oto, Iowa

If you need a payday loan in Oto, Iowa, TheGuaranteedLoans can help. Fill out our online application to be connected with potential lenders who may be able to offer you a loan. Remember, payday loans are a short-term solution and should only be used when necessary. Borrow responsibly and have a plan for how to manage your finances moving forward.

F.A.Q.

Are there any restrictions on the number of payday loans a borrower can take out in Oto, Iowa?

Yes, in Oto, Iowa, a borrower is limited to taking out a maximum of two payday loans at any given time.

Can a lender require a borrower to provide collateral for a payday loan in Oto, Iowa?

No, a lender cannot require a borrower to provide collateral for a payday loan in Oto, Iowa. Payday loans are unsecured loans, which means they do not require collateral.