A guide to Payday Loans in Oklahoma, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in Oklahoma?
A: The relevant citation regarding Payday Loans in the Oklahoma State Jurisdiction is Okla. Stat. Ann. tit. 59 § 3101 et seq.

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

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

Q: What is the Payday Loan Term in Oklahoma?
A: The Payday Loan Term in Oklahoma is between 12-45 days. 

Q: What is the Maximum Fee for Cash Advance Loans in Oklahoma?
A: The Maximum fee for Cash Advance Loans in Oklahoma is $15 per $100: $0- $300; $10 per $100: $301-$500 (So if you take a loan of $300 you will pay $45 as fee, and if you take a loan of $500, you will pay $65 ($45 + $20) as fee)

Q: What is the Finance charge for 14-day $100 payday loan in Oklahoma State?
A: The Finance charge for 14-day $100 payday loan in Oklahoma is $15. 

Q: What is the APR for 14-day $100 payday loan in Oklahoma?
A: The APR charged for 14-day $100 payday loan in Oklahoma is 390 percent. 

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

Q: How many times can the lender rollover my payday loan in Oklahoma?
A: None, the lender cannot renew (rollover or extend) a loan; you cannot take a new loan within 13 days of taking the first loan, it will be considered as a renewal and will not be allowed. 

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: No, a payday loan lender cannot initiate a criminal action if the borrower is unable to repay the loan. 

Q: Is there a cooling off period in Oklahoma?
A: Yes, the Second business day after the 5th consecutive loan repaid

Q: Can I be charged a collection fee for a payday loan?
A: Yes, $25 NSF fee (if disclosed) unless dishonored due to theft or forgery

Q: Am I entitled to a repayment plan for my payday loan in Oklahoma?
A: Yes, you are entitled to a repayment plan for your payday loan in Oklahoma. 

Contact the Department Of Financial Institutions

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

Oklahoma Department of Consumer Credit
Address: 4545 North Lincoln Boulevard, Suite 104 Oklahoma City, OK 73105
Phone: (405) 521-3653
Fax: (405) 521-6740
Regulatory Contact: Jack Stone, Deputy Administrator

Website: http://www.okdocc.state.ok.us/

Where can I find a payday loan store in Oklahoma?

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