Online Loans in Ohio

Looking to take out an online loan in Ohio? Read below what you should know about online payday loans and installment loans in Ohio and compare the loan rates to find the best loan!

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Borrow $1,000 with a period of 6 Months.
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Amount: $1,000 | Period: 6 Months
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Chosen 49,026 times

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Chosen 49,026 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

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Borrow up to

$35,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

62 Reviews

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Support & Service

recommended

Chosen 70,713 times

recommended

Chosen 70,713 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

Most chosen

Customer type:

All

Borrow up to

$5,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

25 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Chosen 20,972 times

Chosen 20,972 times

Loan Amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.54

for 6 months

Monthly payback

$169.59

for 6 months

Best reviews

Customer type:

All

Borrow up to

$35,000

Estimated Payback

09/11/2021

Weekend Payout

Age

18

9 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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Online Loan Options in Ohio

Online payday loans in Ohio The Short-Term Lender Law (STLA) was enacted in Ohio in 2008. If you want to get a cash advance in Ohio, here is more information on how this law protects consumers.

The payday lending law in Ohio can be regarded as one of the best when it comes to protecting consumers. It prohibits lenders from making short-term loans available by mail, over the phone or through the internet.

The STLA requires all lenders to register with the state. Payday loans in Ohio are regulated by the Department of Commerce. Thus, the interest rate and fees that lenders charge are determined by the state.

Here are some more additional protections in Ohio State:

  • Loan duration should not be less than 31 days;
  • The loan amount cannot be more than $500;
  • The interest rate is capped at 28%;
  • The loan amount should not exceed 25% of a borrower’s gross income.

The Ohio Supreme Court has held that payday lenders can also be mortgage lenders under the Mortgage Lenders Act.

According to Ohio law, only lenders who have been licensed and paid an application fee of $500 can collect their loans from defaulters. All transactions by unlicensed lenders are rendered null and void, thus they cannot file any legal actions.

Cash Advance Collections in Ohio

Cash advance borrowers in Ohio can defer their payments for up to 6 months. Lenders have two main options when it comes to collection rules. They can collect their loan without legal assistance or sell the debt.

Those collecting on behalf of the payday lenders should properly identify themselves to the borrower or his family. Harassing borrowers over the phone or calling after 9 p.m. is considered illegal.

A repayment plan is offered if you fail to meet the payment deadline. A lender has the right to file a legal case against you if you default a loan.

Author Financer.com

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