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The Best Loans in Montana 2022: Compare Loan Rates

Written by:  Joe Chappius
|
Last updated: May 6, 2024

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

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

How to Compare Loans in Montana

How to Compare Loans in Montana
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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Montana Payday Loans Laws

Payday lending is restricted in Montana State. Learn how these limitations protect the lenders from indecent cash advance lenders.

A lender in Montana can only start operations after receiving a license from the State’s Department of Administration.

Lenders are not allowed to charge a 3- digit APR as commonly done in many other states. Montana cash advance lending is capped at 36% APR. In effect, a $100 loan given for two weeks will be charged at only $1.39.

The maximum amount of loan to be given is $300 while the minimum is $50. The loan term should not exceed 31 days. Moreover, no renewals or rollovers are allowed and a lender cannot force a borrower to take a new loan to repay the previous one.

The Advantages of Online Montana 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

The state of Montana law prohibits any criminal actions against borrowers who fail to repay on the due date. You are simply required to write a letter to inform a lender in advance of your inability to pay the loan.

Once you are legally literate of the state laws, you will not be intimated by criminal prosecutions threats from lenders. Any such actions are considered unlawful.

Although most lenders have the option to easily file a civil case, they may not always choose that option. Since their main interest is getting back their money, they would not want to go through courts to claim their debts.

The allowed waiting period for Montana installment loans is two days. After this duration, you are allowed to request another payday loan.

The Montana Department of Administration handles all queries from borrowers.

Montana Payday Loan Regulations

Legal Status Legal
Interest Rate (APR) 36% small loan cap
Max. Loan Amount $300
Min. Loan Term 14 days
Max. Loan Term 31 days
Number of Rollovers 0
Finance Charges $1.39 for a $100 loan
Statute of Limitations 8 years
Updated July 8 2022

Specific Regulations and Laws Concerning Cash Advance in Montana

  • 2 days for cool off period
  • No payment plan
  • Civil action allowed
  • Penalties include late fees, arbitration and attorney fees.

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

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 Montana
Find the Cheapest Payday Loans in Montana
Compare Now

Compare Montana Loans at Financer.com

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

What Customers Say About Us

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4.60 based on 326 reviews

from Reviews.io

Loans in Montana - FAQs

Are payday loans in Montana legal?
Yes. Payday loans in Montana are legal but there are limitations.
What does a Montana payday loan cost?

In Montana, a licensed lender is not permitted to charge any fee for making or maintaining a payday loan that is greater than 36% per year and rollovers are not allowed.

How long can I take a loan for?

The maximum loan term for a payday loan in Montana is 31 days. If you need a loan for a longer time period, or for a larger amount, consider applying for a personal loan

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