A guide to Payday Loans in Iowa, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in Iowa?
A: The relevant citation regarding Payday Loans in the Iowa State Jurisdiction is 2 Iowa Code Ann. § 533D et seq.

Q: Are Payday Loans legal in Iowa? 
A: Yes Payday Loans are legal in Iowa. 

Q: What is the Maximum Cash Advance Loan Amount in Iowa?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Maximum Payday Loan Term in Iowa?
A: The Maximum Payday Loan Term in Iowa is 31 days.

Q: What is the Maximum Rate and Fee for Cash Advance Loans in Iowa?
A: The Maximum fee for Cash Advance Loans in Iowa is $15: $0-$100; $10 per $100 thereafter. 
 

Q: What is the Finance charge for 14-day $100 payday loan in Iowa State?
A: The Finance charge for 14-day $100 payday loan in Iowa is $16.67. 

Q: What is the APR for 14-day $100 payday loan in Iowa State?
A: The APR charged for 14-day $100 payday loan in Iowa is 433 percent. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: You can take a maximum number of two payday loans at one time. 

Q: How many times can the lender rollover my payday loan in Iowa? 
A: None (cannot repay, refinance or consolidate)

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: It is not specified if the lender can initiate a criminal action against the borrower. 

Q: Can I be charged a collection fee for a payday loan?
A: Yes, One $15 NSF fee (exclusive remedy)

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Iowa Department of Financial Institutions at:

Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines, IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed, Finance Bureau Chief

Website: http://www.idob.state.ia.us/

Where can I find a payday loan store in Iowa? 

You can find the store nearest to your location by simply clicking on this link  loc: Iowa