Loans in Pennsylvania

Written by:  Financer.com
|
Last updated: July 25, 2022

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

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

How much would you like to borrow?

Our Commitment to Transparency
At Financer.com, we're committed to helping you with your finances. All our content abides by our Editorial Guidelines. We are open about how we review products and services in our Review Process and how we make money in our Advertiser Disclosure.

Compare Pennsylvania Loans in December 2023

Borrow $1,000 for a period of 6 Months.
Edit Search
Amount: $1,000 | Period: 6 Months
Search Options
We found 17 loans

Edit Search

More Filters Reset
Choose your state
recommended

Chosen 1,199 times

recommended

Chosen 1,199 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now

Customer Type

All

Borrow up to

$5,000

Estimated Payback

03/06/2024

Weekend Payout

Age

18

2 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 91,389 times

recommended

Chosen 91,389 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Most chosen

Customer Type

All

Borrow up to

$10,000

Estimated Payback

03/06/2024

Weekend Payout

Age

18

35 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 31,936 times

recommended

Chosen 31,936 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Customer Type

All

Borrow up to

$35,000

Estimated Payback

03/06/2024

Weekend Payout

Age

18

14 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.

Show all 17 offers
$1,000
Compare Offers

How to Compare Loans in Pennsylvania

How to Compare Loans in Pennsylvania
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

As seen in

business-insider
entrepreneur-logo
forbes-logo-40224
vice-logo
yahoo-finance-logo
new-york-times-logo-variation.jpg

Online Loans in Pennsylvania

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 Pennsylvania are quite different from the laws set in the other states.

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

Compare the Best Loan Rates

Save more on your loan by comparing with us first.

The Advantages of Online PA 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

Pennsylvania Payday Loans 

Lenders who are still providing cash advances to consumers are doing it within the restrictions of the law.

In 1998, a law was passed in the state that prohibited check-cashing firms from issuing loans based on postdated checks.

This rule basically applies to payday lenders even though they are not check-cashing companies. Payday loans basically revolve around a consumer’s paycheck.

The borrower writes a postdated check when he signs an agreement authorizing the lender to withdraw paycheck funds from a bank account.

Pennsylvania Payday Loan Regulations

Legal StatusProhibited
Interest Rate (APR)6% small loan cap
Updated July 25 2022

There are limits to how much interest a lender might charge a borrower. It is the responsibility of The Consumer Discount Company Act to regulate such interest rates. Just like most states, Pennsylvania has its own set of interest rate limitations, which include the following:

  • Small loan lenders are not allowed to charge more than 6% interest on short-term loans;
  • Some lenders may charge up to 24% interest but will first have to obtain licensure.

The strict rules were implemented to curb these lending companies from charging exorbitant rates. The average interest rate is approximately 300%. Some may even go up to 600%.

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

Loan Laws in PA State

These laws on lending have caused a large number of businesses to come to a halt. Most lenders argue that low interest rates do not benefit them. On the other hand, lenders who are providing other types of loans other than cash advances are still expected to follow the guidelines.

The State of Pennsylvania does not have a positive perspective of cash advances. Struggling low-income earners are advised to obtain cash advances by other means.

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 Pennsylvania
Find the Cheapest Payday Loans in Pennsylvania
Compare Now

What Customers Say About Us

4.60 based on 322 reviews

from Reviews.io

Compare PA Loans at Financer.com

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

Pennsylvania Loans - FAQs

What are the typical costs of a PA loan?

The money you borrow is not the only obligation you will have. Interest rates, fees, and other charges will also be applicable. The rate of interest will depend on the type of credit, the lender, and the loan amount.

Late payments also attract additional fees. Some lenders from banks and credit unions will also include application fees and loan disbursement fees.

Are payday loans legal in the state of Pennsylvania?

No, payday lending is illegal in the state of PA. You may take out a personal loan but keep in mind that there are limits to how much interest a lender might charge a borrower in Pennsylvania.

Texas 4th Stimulus Check 2023: Is it Happening?

Texas Responds with Assistance in Absence of Federal Stimulus Checks in 2023 While the federal government has not announced a 4th federal stimulus check for 2023,

See more posts
Lorien Strydom
May 25, 2023
How Do Tax Deductions Work?
Lorien Strydom
December 1, 2022
What Is a Good Interest Rate On a Used Car?
Lorien Strydom
December 21, 2022
How to Calculate Net Income
Lorien Strydom
August 1, 2022
What is a Good Credit Score?
See more answers

How to Refinance a Personal Loan: 7 Easy Steps

With the 2023 Household Debt and Credit Survey revealing that consumer debt for American households has surged to an unprecedented $17.1 trillion as of the ...

See more guides

What is a Loan Default?

What is a Loan Default? A loan default occurs when a borrower fails to pay back a loan according to the terms agreed upon with the ...

See more wikis

Was this article helpful?

Be the first one to give feedback

How can we improve this article? Your feedback is private.

We use cookies to give you the most relevant experience. By using our site, you accept all cookies and our privacy policy. To find out more about what cookies we use you can go to privacy overview