Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
Traditional two-week payday loans are no longer available in Oklahoma. Instead, loans are regulated under the Oklahoma Small Lenders Act. The maximum loan amount you can borrow is $1,500 across all licensed lenders. State law requires that these loans have a minimum term of 60 days and a maximum term of 12 months. They must be fully amortized, meaning you will make substantially equal periodic payments rather than a single lump-sum payment. Lenders are permitted to charge a maximum monthly interest rate of 17%, which equates to an Annual Percentage Rate (APR) of up to 204%. Additionally, your scheduled monthly payments cannot exceed 20% of your gross monthly income. Late fees or return check fees may apply if a payment fails. Always review your specific lender's terms carefully before signing.
Annual Percentage Rate (APR)
Up to 204% (17% per month maximum in OK)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $500 | 60 Days | 204% | $131 | $631 |
| $1,000 | 6 Months | 204% | $677 | $1,677 |
| $1,500 | 12 Months | 204% | $1,858 | $3,358 |
The representative example above is an estimate for informational purposes only. The actual APR, finance charges, and repayment terms will be determined by your matched lender based on your creditworthiness, income, and Oklahoma state regulations. We are not a lender and do not make credit decisions.
State-Specific Information — Oklahoma
Maximum Loan Amount: $1,500
Rate Cap: 204% APR (17% per month)
Regulations: Regulated under the Oklahoma Small Lenders Act. Requires fully amortized loans of 60 days to 12 months. Monthly payments capped at 20% of gross monthly income.
Licensing: Lenders must be licensed by the Oklahoma Department of Consumer Credit to operate under the Small Lenders Act.