Loans in Rhode Island (2022): Compare Payday Loans

The Best Rhode Island Loans for January 2023

Borrow $1,000 for a period of 6 Months.

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Amount: $1,000 | Period: 6 Months

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We found 13 loans

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Chosen 2,153 times

N/A

Read 0 reviews

Chosen 2,153 times

Loan amount

$1,000

APR:

4.99% - 35.99%

Total Payment

$1,014.75

for 6 months

Monthly payback

$169.13

for 6 months

N/A

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Borrow up to

$50,000

Estimated Payback

27/07/2023

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0 Reviews

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recommended

Chosen 83,440 times

3.8

Read 35 reviews

recommended

Chosen 83,440 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

3.8

Read 35 reviews

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Customer Type

All

Borrow up to

$10,000

Estimated Payback

27/07/2023

Weekend Payout

Age

35 Reviews

3.8

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recommended

Chosen 28,040 times

4.7

Read 15 reviews

recommended

Chosen 28,040 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

4.7

Read 15 reviews

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Customer Type

All

Borrow up to

$35,000

Estimated Payback

27/07/2023

Weekend Payout

Age

15 Reviews

4.7

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

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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How to Compare Loans in Rhode Island

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Best Rated Personal Loans

Find the best rated lenders for loans in Rhode Island

5.0

Based on 4 reviews

4.8

Based on 4 reviews

4.8

Based on 4 reviews

4.7

Based on 11 reviews

4.7

Based on 20 reviews

4.7

Based on 28 reviews

4.5

Based on 7 reviews

4.3

Based on 45 reviews

4.3

Based on 8 reviews

4.2

Based on 78 reviews

Online Loans in Rhode Island

Rhode Island payday loans are legal in the state. The law in Rhode Island is somewhat different from other states in that it limits how long you are allowed to have a loan.

The minimum loan term is 13 days and the maximum loan amount for payday loans is $500.

Rhode Island cash advance laws permit one rollover per loan. A lender is allowed to charge a fee for this rollover as disclosed in the contract.

Find out more about how these regulations affect your borrowing ability.

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The Advantages of Online Rhode Island Loans

Online Personal Loans Are Convenient

Get Funds As Soon As The Same Day

Apply Anywhere, Anytime

Less Paperwork Required

Rhode Island Loan Rates and Fees

Here is a breakdown of the basic fee structure that the law requires of lenders operating in Rhode Island:

Lenders can charge a 10% interest rate;
Lenders are prohibited from charging more than 260% of APR for a $100 loan;
Loans provided to a person per year can be three and they should not exceed $500 each;
Creditors may charge up to 12% on debt without an agreement and 21% if there is an agreement.

Exceptions to the above last rule include pawnbrokers, licensed lenders and retail finance charges. Sometimes a bank may import a higher rate limit from another state, forcing you to pay more than 21% in interest rates.

Payday lenders stores should have a fee schedule and the interest rate posted publicly at the office. This should make it easier for the customer to see how much they will need to pay.

The lender should also keep a list of identification forms they accept from borrowers when issuing Rhode Island installment loans. A written contract signed by both the borrower and lender is mandatory. The contract should state the fees, the APR and information on the loan term.

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Rhode Island Payday Loan Regulations

Legal Status	Legal
Interest Rate (APR)	261%
Max. Loan Amount	$500
Min. Loan Term	13 days
Max. Loan Term	Not specified
Number of Rollovers	1
Finance Charges	10% of the amount
Database Tracking	No

Updated July 29 2022

Rhode Island Loan Terms

There is no maximum loan term, only a minimum of 13 days. Borrowers can extend the loan by simply paying a one-time finance charge.

Borrowers may borrow up to three outstanding loans as allowed by the state.

However, the loan limit is capped at $500 with an interest fee of 10% of the amount borrowed. Rhode Island cash advances APR are capped at 261%.

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Get the Loan You Need

An online personal loan can help when you need cash for large purchases or unplanned expenses.

Holiday

Wedding

Home Renovations

Bills

Shopping

Education

Consumer Information

As of July 2020, lenders are not required to check a borrower’s ability to repay a loan. Lenders may not take any criminal actions against borrowers.

You can direct any complaints or queries about a lender to the Rhode Island Department of Business Regulation.

⚠️ Note: Payday loans can carry high APRs. Make sure you can afford a payday loan to avoid getting into a debt trap.

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Compare Rhode Island Loans at Financer.com

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