Indiana Payday Loans

Payday loans are allowed in the state of Indiana. In Indiana, the minimum amount of time a cash advance may be for is 14 days. Borrowers are not allowed to rollover or extend their loan period - renewals are not allowed. The maximum loan amount that a borrower can request is $550, as long as it does not exceed 20% of the borrower's gross income. Borrowers may only have one outstanding loan per lender at a time, with a maximum of two loans, like a Fort Wayne lender and an Indianapolis lender, at any given time. Indiana payday loans are regulated by the Indiana Department of Financial Institutions, located in Indianapolis.

Cooling Off Period

Borrowers are required to wait 7 days before borrowing any more funds after they have taken out 6 loans in a row. This is referred to as a cooling off period for payday loans.

Fees and Criminal Action

Lenders are allowed to charge a one-time fee of $20 for checks that are returned citing insufficient funds. If a borrower intentionally defrauds the lender, the lender is then authorized to charge additional fees. Criminal action is prohibited in the case of payday loans.

Interest Rates

Interest rates for loans in the state of Indiana are laid out a bit differently. Lenders can charge 15% interest on the first $250 borrowed, then 13% for amounts $251-$400 and 10% for amounts $401-$500.

Check-N-Go
3350 North High School Road Suite H
Indianapolis, IN 46224
Cash Quick Pay Day Loan
5550 West 86th Street Suite 102
Indianapolis, IN 46268
Advance America Cash Advance Centers
101 West Ohio Street Suite 660
Indianapolis, IN 46204
Check Protection Systems Inc
8425 Keystone Xing Suite 108
Indianapolis, IN 46240
Check Into Cash
10075 East Washington Street
Indianapolis, IN 46229
Quick Cash #558
3801 East Washington Street
Indianapolis, IN 46201
Checksmart
9501 East Washington Street
Indianapolis, IN 46229
Checksmart
1004 North Shadeland Avenue
Indianapolis, IN 46219
Check N Go
9727 East Washington Street
Indianapolis, IN 46229
Cash in A Flash
8015 Pendleton Pike Suite P
Indianapolis, IN 46226

Search Payday Loans by City

Anderson | Bedford | Beech Grove | Bloomington | Carmel | Clarksville | Columbus | Connersville | Crawfordsville | Crown Point | East Chicago | Elkhart | Evansville | Fishers | Fort Wayne | Frankfort | Franklin | Gary | Goshen | Granger | Greenfield | Greenwood | Griffith | Hammond | Highland | Hobart | Huntington | Indianapolis | Jeffersonville | Kokomo | La Porte | Lafayette | Logansport | Marion | Merrillville | Mishawaka | Muncie | Munster | New Albany | New Castle | Noblesville | Plainfield | Portage | Richmond | Schererville | Seymour | Shelbyville | South Bend | Terre Haute | Valparaiso | Vincennes | More Indiana Cities

Indiana Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter
2012$6034031%48%15%6%32%68%
2011$5363725%50%17%8%30%70%
2010$5683919%58%13%10%34%66%