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The Best Loans in Iowa 2022: Compare Loan Rates

Written by:  Lorien Strydom
|
Last updated: May 6, 2024

Financer.com helps you compare online loan rates in Iowa. Compare different loan options in Iowa and read more about the payday loan laws in the state.

  • Compare lenders online
  • Find a loan in Iowa
  • Compare loan rates and apply

How to Compare Loans in Iowa

How to Compare Loans in Iowa
1
Choose your loan amount
Choose the amount of money you want to borrow
2
Compare loan rates
Filter the results based on your needs and compare loan rates
3
Choose the best offer
Choose the best offer from leading lenders
4
Complete the application
Click Get Started and complete your application online

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Online Loans in Iowa

We've seen a decline in the number of unsecured loans that banks provide in the past few years. While it may be challenging to get a personal loan from a bank, 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 Iowa are quite different from the laws set in other states.

Compare Iowa payday loans with our loan comparison tool above, or read more about online payday loan laws in Iowa below.

The Advantages of Online Iowa Loans

Online Personal Loans Are Convenient
Online Personal Loans Are Convenient
Get Funds As Soon As The Same Day
Get Funds As Soon As The Same Day
Apply Anywhere, Anytime
Apply Anywhere, Anytime
Less Paperwork Required
Less Paperwork Required

Regulations On Loans in Iowa State

All consumers need to be fully educated on the risks that come with quick cash advances before taking out an Iowa 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.

However, Iowa has specific loan regulations that determine the maximum loan amount and the finance charges for each loan. 

Consumers taking fast payday loans in Iowa must repay them in full on the next pay date. Otherwise, these Iowa loans might be subjected to fines and penalties, incurring further interest charges.

In Iowa, a lender cannot threaten you with criminal prosecution if you default on the loan payment. However, a lender has the right to charge you in a civil court which means that judgment could be pursued against you, perhaps forcing you into bankruptcy.

Iowa Payday Loan Regulations

Legal Status Legal
Interest Rate (APR) 337%
Max. Loan Amount $500
Min. Loan Term Not specified
Max. Loan Term 31 days
Number of Rollovers 0
Finance Charges $15 on the first $100
Statute of Limitations 10 years
Updated August 3 2022

Payday lending is legal in Iowa.

The maximum amount of payday loans in Iowa is $500.

The longest loan length allowed is 31 days. For a loan up to $100, the finance charges shouldn't be more than $15, and they shouldn't be more than $10 for each additional $100.

The maximum APR is 337% and rollovers are prohibited.

Get the Loan You Need

An online personal loan can help when you need cash for large purchases or unplanned expenses.
Holiday
Holiday
Wedding
Wedding
Home Renovations
Home Renovations
Bills
Bills
Shopping
Shopping
Education
Education

Payday Loan Requirements

Payday loans in Iowa are regulated by state law Iowa Code Ann. § 533D.1 et seq. or Delayed Deposit Services Licensing Act.

There are clear rules regarding the following: a borrower must have a comprehensive contract that is written in both English and Spanish and has all the necessary information regarding transactions related to payday loans, fees, and payback periods, among others.

The contract should be written in simple language and provide a toll-free number and the contact information for a lender in case there are any issues or inquiries.

A payday loan business is only deemed legal if all of the aforementioned conditions are met. A borrower must also give a lender all necessary contact information.

Why Compare Personal Loans at Financer.com

Completely Free Comparison
Completely Free Comparison
Instant Results Without a Credit Check
Instant Results Without a Credit Check
Read Genuine Customer Reviews
Read Genuine Customer Reviews
Find the Cheapest Payday Loans in Iowa
Find the Cheapest Payday Loans in Iowa
Compare Now

What Customers Say About Us

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Compare Iowa Loans at Financer.com

Financer.com helps you compare the best personal loans in Iowa 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 Iowa and take the guesswork out of doing all the legwork yourself.

Loans in Iowa - FAQs

Are payday loans in Iowa legal?

Yes, Iowa payday loans are legal. 

How much can I borrow with an Iowa loan?

Maximum loan amounts for personal loans depend on the lender and your creditworthiness. However, payday loans are allowed up to $500 with a maximum repayment period of 31 days.

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