Payday Loan or Installment Loan Florida
The time may come when you find yourself in bad financial spot and left with no choice other than borrowing. During that phase, applying for payday loans or installments loans is a good idea for the residents of Florida. When you are in financial bind and need a loan in Florida, we help you to get the one in quick and efficient manner.
According to the lending laws in Florida, interest rates and terms on payday loans or installments loans are limited. Loan lenders are required to obey the state laws and rules to protect the consumers. Therefore, payday lending is legal in Florida but it is subjected to some strict limitations.
Amount Of The Loan:
Residents of Florida are allowed to receive the loan amount of up to $500.
Length Of The Loan:
The duration of loan is due till the next paycheck or 31 days.
Fees and cost of loan:
1. Interest rates charged on payday loans Florida is 10 percent.
2. The finance charge for the borrowed amount of $100 for the tenure of 14 days is $15.
3. APR (Annual Percentage Rate) can hit 390 percent.
Extension on loan:
State of Florida allows the applicant to borrow one loan at a time. There is mandatory 24 hours of cooling-off period between the loans.
Specific state guidelines allow for wide range of APR and fees.
All loans are subject to the lending policies. The interest rates on loans will vary depending upon the loan size, credit and provided collateral. The amount of APR is varied according to the state law and lender’s terms. The above described information about loan in Florida may vary from lender to lender. We urge you to visit the direct lender’s website and read its individual terms and conditions thoroughly before proceeding further.