Best Loans in Kentucky, Payday, Auto Title Laws of September 2024
Kentucky’s Consumer Loan Companies statute requires licensed lenders to cap installment loans at $15,000. APRs are capped at 3% per month for loans of up to $3,000 or 2% per month for loans over $3,000.
Other allowable charges include:
- A bad check charge of $25 or the amount levied by the clearing financial institution – whichever is greater.
- A loan processing fee of 5%, up to a maximum of $150.
- A default charge of up to 5% of the scheduled payment or $15 – whichever is greater.
Best Bad Credit Loans in Kentucky of September 2024
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For additional information, see our complete guide on bad credit loans.
Best Personal Loans for Good Credit in Kentucky of September 2024
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