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The Best Loans in Oklahoma 2022: Compare Loan Rates

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

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

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

How to Compare Loans in Oklahoma

How to Compare Loans in Oklahoma
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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Getting a Loan in Oklahoma

Cash advance lender in Oklahoma requires that applicants be at least 18 years to apply. In addition, you will be required to produce an active checking account and proof of a steady and reliable income.

These loans have no collateral so this is the only way to guarantee a lender that you will repay.

A finance charge of $15 is assessed for every $100 borrowed. This is applicable only when the loan amount does not exceed $300.

Loan splitting is not allowed as per Oklahoma installment loans laws.

Although rollovers are prohibited, a borrower may take a repayment loan if he is having difficulty repaying an existing loan.

The Advantages of Online Oklahoma 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

Payday loans and online personal loans are legal in Oklahoma State, governed by certain rules and regulations. These apply to both parties; that is, the lender and the borrower.

The maximum loan amount a lender can give is $500, with a 15% rate charged on loans less than $300. Loans higher than $300 can be charged a 10% interest.

There are no limits to the number of Oklahoma personal loans a borrower may take.

An online Oklahoma payday loan cannot be for longer than 45 days. Oklahoma offers a lower percentage rate of 390%, compared to most other states.

The deferred Presentment Service Act is responsible for granting payday lenders the permission to run their businesses.

Oklahoma Payday Loan Regulations

Legal Status Legal
Interest Rate (APR) 207%
Max. Loan Amount $1,500
Min. Loan Term 60 days
Max. Loan Term 365 days
No of Outstanding Loans 2
Statute of Limitations 5 years
Finance Charges 17% per month and no more than 20% of the borrower's income
Updated March 18 2022

In the state of Oklahoma, the maximum payday loan amount should not exceed $1,500. The loan can be given for the term from 60 days to 365 days. The interest should not exceed 17% monthly. Criminal actions are prohibited.

In 2020, the Oklahoma Small Lenders Act restricted the payday loan business, adding a maximum monthly interest limit of 17%, and a maximum loan amount of $1,500.

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

Limitations of Cash Advances

There are various rules attached to payday loans depending on the state or lender. In Oklahoma, the limitations are as follows:

  • There are no renewals or rollovers;
  • A cooling-off period of 2 business days is necessary after the 5th consecutive loan is repaid before applying for a new loan;
  • There is a $25 NSF collection fee;
  • All criminal actions are prohibited.

A lending company must start to apply for their license at the Administration of the Department of Consumer Credit before they start offering payday loans. The same procedure applies if a lending company wants to open new branches elsewhere.

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 Oklahoma
Find the Cheapest Payday Loans in Oklahoma
Compare Now

Compare Oklahoma Loans at Financer.com

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

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