Payday Advance In Kansas
To get a payday advance as a resident of Kansas, your loan is subject to the following:
The maximum amount of money you’re allowed to borrow is $500.
The maximum interest rate is 15%.
The minimum term is 7 days and the maximum term of the loan is 30 days.
Example 1: If the total amount loaned is $100, the most that could be charged is $15.
Example 2: If the total amount loaned is $400, the most that could be charged is $60.
The lender must provide the contract outlining the terms and conditions in both English and Spanish.
A payday lender cannot make you a new loan to repay, refinance, renew, or consolidate an existing loan.
Online payday advance lenders that lend to Kansas residents must be licensed and adhere to Kansas’ loan limits and terms. You can verify the license of a payday lender in Kansas by calling 785-296-2266 or online.