Best Loans in Iowa, Payday, Auto Title Laws of April 2024

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Last Update: November 2, 2022 Loans By State
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According to Chapter 536 of Iowa’s Code of Commerce, regulated loans are capped at $25,000. Allowable finance charges include:

  • 3% per month on balances ≤ $150.
  • 2% per month on balances > $150 but ≤ $300.
  • 1 ½% per month on balances > $300 but ≤ $700.
  • 1% per month on the remaining balance exceeding $700.

For Consumer Credit Loans, Chapter 537 of Iowa’s Consumer Credit Code caps loans at $1,000. Finance charges cannot exceed 21% per year, and the maximum loan term is 25 months for loans of $300 or less and 37 months for loans greater than $300.

Other allowable charges include:

  • A delinquency charge (after the loan is 10 days past due) of 5% or a maximum of $30.
  • A non-sufficient funds (NSF) fee of 5% or $20, whichever is greater.

Best Bad Credit Loans in Iowa of April 2024

Amount:

$100 - $15,000