Each state in the USA is unique, offering distinctive natural beauty, history, and traditions, as well as varying laws and regulations. For example, legal restrictions on installment loans also differ from state to state. Some states greatly restrict installment loans, and many have limitations regarding the size of the loan and the fees involved. So if you’re looking for installment loans in Idaho, use the guidance below for help.
Installment Loans in Idaho
WHY INSTALLMENT LOANS
Installment loans don’t require good credit. They’re quick and easy to obtain. And unlike payday loans, they are paid back over time through multiple pay periods. Although they cost more than some other loan options, they are worthwhile for those in a specific situation: bad credit, urgent need of funds, and no other options readily available (such as a bank loan or a credit card).
Plus, installment loans are more flexible than payday loans with their versatile payment schedules and prorated fees. In Idaho, payday loans are limited to $1,000 or 25% of the borrower’s gross monthly income, but installment loans can be borrowed in greater amounts.
INSTALLMENT LOANS FOR IDAHOANS
Installment loans in Idaho do not have a cap on interest rates or loan fees, but deceptive practices are prohibited. As loans differ in size from lender to lender, consider starting your search by seeking out a reputable lender. Keep the following factors in mind:
- Customer satisfaction
- Speed of delivery (instant funding preferred)
- Rates and fees
- Terms and conditions
- Online services
- Maximum loan amount
- Payment schedule
- Ease of application
- Credit check requirement (or lack thereof)
Then, once you’ve found some possibilities, check the website of the Idaho Department of Finance. You can search for potential lenders and check that they have active consumer credit licenses. The directory also provides contact information (name, phone number, address), the license number, the issue date for the license, and the expiration date. Only borrow from licensed lenders, so that the Idaho Department of Finance can assist you with the transaction if need be. This will help you avoid fraudulent lenders as well.
If you’re browsing installment loans in Idaho, check out Advance Paycheck Online. We are a direct lending company offering short-term advances and installment loans online to the residents of four states, including Idaho. We offer installment loans of up to $1,500 to residents of the Gem State. The daily amount of interest will increase, of course, as the total loan amount increases:
- $100 loan = $1.64 daily interest
- $200 loan = $3.29 daily interest
- $300 loan = $4.93 daily interest
- $400 loan = $6.57 daily interest
- $500 loan = $8.21 daily interest
- $600 loan = $9.86 daily interest
- $700 loan = $11.50 daily interest
- $800 loan = $13.14 daily interest
- $900 loan = $14.79 daily interest
- $1,000 loan = $16.43 daily interest
- $1,100 loan = $18.07 daily interest
- $1,200 loan =$19.71 daily interest
- $1,300 loan = $21.36 daily interest
- $1,400 loan = $23.00 daily interest
- $1,500 loan = $24.64 daily interest
With our low-rate guarantee, you can rest assured that you are getting the lowest interest rates around (and if you find a lower rate, we’ll match it!). Our flexible payment schedules will help you pay off your loan as soon as possible, and we prorate the fees involved so that if you pay off the loan early, you will have very few fees to pay. To get started, please contact us online or give us a call at 1-815-436-4242. We would be happy to help!