Best Loans In Montana, Payday, Auto Title Laws 2019 - Elite Personal Finance
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Best Loans In Montana, Payday, Auto Title Laws 2019

EPF November 2, 2019
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Montana’s Consumer Loan Act requires licensed lenders to cap installment loan APRs at 36%. Deferral and delinquency charges are capped at 5% of the outstanding balance, up to a maximum of $50. Bad check fees are also capped at $25.

When it comes to the amount of financing, Montana does not regulate the amount of credit extended to borrowers. Finalized terms are determined by the lender and the borrower. Similarly, banks, building and loan associations, savings and loan association, trust companies, and credit unions are exempt from the above regulations. Individuals who issue less than four consumer loans per year are also exempt.

Best Bad Credit Loans In Montana

Lender:Min Credit Score:Loan Amount:APR:Licensed in Montana:
BadCreditLoans0$500 – $5,0005.99% – 35.99%Not a direct lender
CashUSA0$500 – $5,0005.99% – 35.99%Not a direct lender
Opploans0$1,000 – $4,00099% – 199%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender

If you need help selecting a bad credit loan, see our complete guide.

Best Personal Loans for Good Credit In Montana

Lender:Min Credit Score:Loan Amount:APR:Licensed in Montana:
Prosper640$2,000 – $40,0006.95% – 35.99%Yes
Payoff640$5,000 – $35,0005.99% – 24.99%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

To browse through some other great companies, see our full list of recommended lenders. And if you want to compare loans side-by-side, try SuperMoney. It’s a great place to search for a loan.

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Payday Loans in Montana

Maximum Loan Amount: $300

Minimum Loan Term: 14 days

Maximum Loan Term: 31 days

Maximum Fee: $1.39 per $100 borrowed (2-week term)

Maximum APR: 36%

Rollovers: Prohibited

Loan Limit: Not specified

Payday loans are legal in Montana.

Regulated by the Deferred Deposit Loan Act, licensed lenders are required to offer payday loan borrowers a minimum of $50 up to a maximum of $300. Also, if a borrower changes his or her mind and returns the proceeds in-full within one-day, finance charges are voided.

Payday loan APRs are capped at 36%, while non-sufficient funds (NSF) fees are capped at $30. As well, the minimum loan term is 14 days, while the maximum loan term is 31 days. Rollovers and extensions are also prohibited.

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