How to Compare Loans in Connecticut
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Online Loans in Connecticut
With banks offering fewer unsecured loans in recent years, it may be challenging to get a personal loan from a bank. However, you could still get financing by taking a payday loan.
The way payday loans are governed varies from state to state, and the laws in Connecticut are quite similar to loans in other U.S. states.
Compare online loans in Connecticut with our loan comparison tool above, or read more about online payday loan laws in Connecticut below.
The Advantages of Online Connecticut Loans
Connecticut Payday Loan Regulations
Legal Status | Prohibited |
Interest Rate (APR) | 12% small loan cap |
Connecticut law does not explicitly address payday loans. However, both Connecticut’s small loan law and check casher law, as well as usury law, put a 12% APR cap on all loans and serves as a limit to payday loans as well. Also, currently, despite all the claims of tribal lenders, all payday loans are illegal in Connecticut.
Regulations On Loans in Connecticut State
All consumers need to be fully educated on the risks that come with quick cash advances before taking out a Connecticut payday loan. The lender has an obligation to explain to you the total cost, the interest rate, and the possibility of the interest accumulating over time.
Payday loans are prohibited in Connecticut.
Although the law in Connecticut does not explicitly address payday loans, the law puts a 12% APR cap on all loans and serves as a limit to payday loans as well.
Also, currently, despite all the claims of tribal lenders, all payday loans are illegal in Connecticut.
Get the Loan You Need
An online personal loan can help when you need cash for large purchases or unplanned expenses.
Loan Requirements in CT
When you apply for a loan in Connecticut, approval can be granted the same day, and your loan can be paid out as soon as the next business day.
When applying for a personal loan in Connecticut, you'll typically need the following:
- An active checking account. This is usually for the purpose of wiring money directly to your account once approved.
- Proof of income. This includes current information about your employer, plus any disability benefits.
- A working phone number. This can be either a home or mobile phone.
- Be at least 18 years old and a U.S. citizen or a permanent resident.
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Compare Connecticut Loans at Financer.com
Financer.com helps you compare the best personal loans in CT and get the best loan rates from leading lenders.
We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.
Use our free loan comparison tool to find the right personal loan in Connecticut and take the guesswork out of doing all the legwork yourself.
Connecticut Loans FAQs
Are payday loans legal in Connecticut?
What are the loan requirements in CT?
When applying for a personal loan in Connecticut, you'll typically need the following:
- An active checking account. This is usually for the purpose of wiring money directly to your account once approved.
- Proof of income. This includes current information about your employer, plus any disability benefits.
- A working phone number. This can be either a home or mobile phone.
- Be at least 18 years old and a U.S. citizen or a permanent resident.
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