How To Compare Loans in Florida
Select how much you would like to borrow.
Filter the results based on your criteria and compare the best Florida loan rates.
Find the best personal loan for your loan needs.
Click Get Started to fill in your loan application.
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Why Compare Loans in Florida with Financer.com
Personal Loans in Florida
By comparing lenders online with Financer.com, you can apply for a personal loan in Florida from trusted lenders in the U.S, including banks like SunTrust, Fifth Third Bank, and TD Bank.
Applying for Florida loans online is easy and fast. The pre-qualification process typically takes only a few minutes and if approved, you can get funds deposited into your account as soon as the next business day.
In addition to comparing payday loans online in Florida, you can compare lenders to find the best Florida personal loans with Financer.com.
Florida Payday Loan Regulations
| Legal Status | Legal |
| Interest Rate (APR) | 304%* |
| Max. Loan Amount | $500 for single loans, $1,000 for installment loans |
| Min. Loan Term | 7 days |
| Max. Loan Term | 90 days |
| Number of Rollovers | 0 |
| Cooling-off Period | 24 hours |
| Installment | Yes |
APR equals 304% according to the Center for Responsible Lending 2019.
It’s always important to educate yourself on the legal provisions regarding payday loans in Florida. Here are a few guidelines:
- A lender cannot issue out more than $500 at a time.
- The loans are to be given for a period of 7-31 days.
- Lenders may not charge more than 10% in fees.
- Rollovers are not allowed.
Every state has a set period of time for lenders to collect their debts and Florida has a specific time frame for this.
As per the law regarding payday loans in Florida, you legally cannot be held accountable for outstanding balances on loans older than five years. However, this five-year period does not start from the date the loan was issued.
It is calculated starting from the date when the last transaction took place on your payday account. In order to validate the debts, lenders will often encourage you to make small payments.
Comparing Loans in Florida
When it comes to comparing loans in Florida, there are a few aspects to consider. These include the loan rates, borrowing terms, fund disbursement speeds, and loan limits.
Loan limits in Florida vary by lender and can be $25,000 or $50,000, while some lenders have no issue borrowing up to $100,000 or more.
Loans will typically be dispersed the next business day, but some banks and lenders may take several days to deposit the funds.
Be sure to review the loan terms as longer terms may have lower monthly payments but you'll end up paying more in total costs. Shorter loans have lower interest rates which will save you in the long run.
Payday Loan Eligibility in Florida
To be eligible for a payday loan in Florida, borrowers typically require some information to process your application. This can include:
- Your name and address
- Your date of birth
- Proof of identity
- Social Security number
- Proof of income
- Verification of employment
Payday Loan Regulations in Florida
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Why Compare with Financer.com
Financer.com helps you compare the best personal loans in Florida and get the lowest personal loan rates from leading U.S. lenders.
Our online loan comparison is fast, easy, and completely free. Best of all, you can pre-qualify without hurting your credit score.
Use Financer.com's free loan comparison tool and take the guesswork out of finding the best personal loan for your needs.
Florida Loans FAQs
Can a lender take me to court if I don't pay?
Florida payday loans statute of limitations gives a lender the legal right to file a civil lawsuit against you if you fail to pay. If the court issues a judgment against you, the lender will have 20 years from this date of judgment to collect their debts.
Note that the lender can only file a case against you within the five-year period. According to the payday loan laws in Florida, lenders are legally prohibited to press charges against you.
What are the limitations of payday loans in Florida?
When it comes to a Florida payday loan, there are some regulations lenders need to follow:
- A lender cannot issue out more than $500 at a time
- The loans are to be given for a period of 7-31 days
- Lenders are legally prohibited to charge more than 10% fee from borrowers
- Rollovers are not allowed.
- Payday lending services are available both to Florida residents and those moving here
Can a personal loan help improve my credit score?
Taking out a Florida installment loan from a trusted lender and making on-time payments could help improve your credit score. Your loan repayments are typically reported to one or more of the major credit bureaus - such as TransUnion or Experian - and as a result, it could improve your credit history and increase your credit scores.
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