How to Compare Loans in Tennessee
As seen in
Best Rated Personal Loans
Find the best rated lenders for loans in Tennessee
Online Loans in Tennessee
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 Tennessee are quite different from the laws set in other states.
Compare online loans in Texas with our loan comparison tool above, or read more about online payday loan laws in Tennessee below.
The Advantages of Online Tennessee Loans
Regulations On Loans in Tennessee
Just like other states in the U.S., there are loan regulations that are to be adhered to in Tennessee for consumer protection. With many payday lenders in Tennessee, here are some of the loan regulations they need to follow:
- Loan term limit is 31 days
- The maximum loan amount is $500
- A borrower may take a total of 3 Tennessee cash advances from different lenders
- A lender can charge $15 for a check
- APR is capped at 459%
- Rollovers are not allowed
- Lenders are prohibited from taking criminal action against borrowers if they fail to pay
Tennessee Payday Loan Regulations
| Legal Status | Legal |
| Interest Rate (APR) | 460% |
| Max. Loan Amount | $500 |
| Min. Loan Term | Not specified |
| Max. Loan Term | 31 days |
| Number of Rollovers | 0 |
| Finance Charges | 15% of the amount |
| Database Tracking | No |
| Finance Charges | $10 + $4/mo for each $100 |
Compare Online Loans and Payday Loans in Tennessee
Online payday loans are very common in the state of Tennessee. In addition to online loans, you can find storefront payday loan lenders in many cities in Tennessee, such as Nashville and Memphis.
Payday lending is one of the most common ways of obtaining credit and it is perfectly legal to do so in the state of Tennessee. There are about 1,344 payday loan institutions in this state.
Get the Loan You Need
An online personal loan can help when you need cash for large purchases or unplanned expenses.
How Are Payday Loans Different from Personal Loans?
A payday loan is a small loan granted to a borrower who is planning and willing to pay back on his next paycheck.
The loan amount is usually less than $1,000. However, borrowing other types of personal loans is different, since you will be granted larger amounts to be repaid over longer periods of time.
The biggest difference between a Tennessee cash advance and other types of loans is that there is no credit check involved.
If you apply online, the approval process is pretty quick.
The main requirement is that a borrower has to be a U.S. citizen who is over 18 years of age.
A lender will also need proof of reliable and steady income. Since these short-term loans have no collateral, this is the only way to prove you will pay.
Why Compare Personal Loans at Financer.com
What Customers Say About Us
4.60 based on 326 reviews
from Reviews.io
Marianne J
Effektivt, tyldigt, intressant, informativ
Andrei B
I believe it to be THE best financial platform in Romania, by far. Their articles are very well documented and really offer the answers to all the questions that I have on the subject.
Terese P
Ute fter nytt kreditkort? Hittade mitt första kreditkort via deras hemsida. Fördelrana? Att man kan jämföra direkt på sidan! Vill du veta om för och nackdelar med olika kort? FInns också på finnacner. Asbra faktiskt.
Alexander E
Bra information om prisläge på olika bankkort med mera.
Birgitta S
Bara bra att säga om financer. Bra info, tydligt, strukturerat, ärligt, uppdaterat! Fem stjärnor.
Compare TN Loans at Financer.com
Financer.com helps you compare the best personal loans in Tennessee 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 Tennessee and take the guesswork out of doing all the legwork yourself.
Loans in Tennessee - FAQs
Are payday loans legal in Tennessee?
Yes. In Tennessee, payday loans are called deferred presentment services loans. The maximum loan amount in Tennessee is $500 and only one outstanding loan is allowed at a time.
How much does a loan in TN cost?
As an example, a $100 payday loan in Tennessee over 14 days, with an APR of 460% would cost $17.65 and the total amount repayable would be $137.65.
Who regulates payday loans in TN?
The Department of Financial Institutions regulates the payday lending industry in the state of Tennessee.
Read More About Loans
No Teletrack Tribal Loans: Bad Credit Accepted
What Are No Teletrack Tribal Loans? No teletrack tribal loans are short-term, high-interest loans offered by lenders affiliated with Native American tribes. These loans have two
September 9, 2024 13 min read
How To Sell a Car with a Loan
Selling a car can be a straightforward process, but when you still owe money on the vehicle, it becomes a bit more complex. This guide ...
September 17, 2024 16 min read
Conventional Mortgage Loans
Conventional mortgage loans are an important financial tool. They play a crucial role for people buying a home. Understanding how they work will help you ...
October 28, 2024 12 min read
