Best Personal Loans In Ohio, Payday, Auto Title Laws 2020 - Elite Personal Finance
loader
Loans By State

Best Personal Loans In Ohio, Payday, Auto Title Laws 2020

EPF Last Update: January 18, 2020
View All Studies

Chapter 4712 of the Ohio Credit Services Organization Act mandates a $5,000 minimum for installment loans issued within the state. APRs cannot exceed 28% and licensed lenders must offer repayment terms of more than one year.

Specifically, the act states:

  • “No credit services organization shall sell, provide, or perform any of the services authorized under division (C)(1) of section 4712.01 of the Revised Code in connection with an extension of credit that meets any of the following conditions:
  1. The amount of credit is less than five thousand dollars.
  2. The repayment term is one year or less.
  3. The annual percentage rate exceeds twenty-eight per cent.”

Best Bad Credit Loans In Ohio

Amount

$500 – $5,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Licensed in Ohio

Not a direct lender

Amount

$100 - $2,500

Min Credit Score

0

APR

Vary by State

Approval

< 1 Day

Terms

1 - 36 Months

Licensed in Ohio

Yes

Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Licensed in Ohio

Yes

Amount

$100 – $1,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

7 – 30 Days

Licensed in Ohio

Yes

Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Ohio

Not a direct lender

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Ohio

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Ohio

Yes

Amount

$1,000 – $100,000

Min Credit Score

500

APR

5.34% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Ohio

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

< 1 Day

Terms

12 - 120 months

Licensed in Ohio

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Ohio

Not a direct lender

Lender:Min Credit Score:Loan Amount:APR:Licensed in Ohio:
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

 

Best Personal Loans for Good Credit In Ohio

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Ohio

Yes

Amount

$2,000 - $40,000

Min Credit Score

640

APR

6.95% - 35.99%

Approval

1 - 3 Days

Terms

36 - 60 months

Licensed in Ohio

Yes

Amount

$1,000 – $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Ohio

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Ohio

Yes

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Ohio

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Ohio

Yes

Amount

$1,000 – $50,000

Min Credit Score

600

APR

6.98% – 35.89%

Approval

< 1 Day

Terms

3 - 5 Years

Licensed in Ohio

Yes

Amount

$5,000 – $35,000

Min Credit Score

640

APR

5.99% – 24.99%

Approval

1 – 7 Days

Terms

2 -5 Years

Licensed in Ohio

Yes

Amount

$2,500-$35,000

Min Credit Score

660

APR

6.99-24.99%

Approval

1 Day

Terms

24 - 84 Months

Licensed in Ohio

Yes

Amount

$7,500 - $40,000

Min Credit Score

680

APR

6 - 15%

Approval

1 - 7 Days

Terms

36 - 84 months

Licensed in Ohio

Yes

 

Lender:Min Credit Score:Loan Amount:APR:Licensed in Ohio:
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

 

For more information on where to find a cheap loan in Ohio, have a look at our full list of recommended lenders. You can also visit SuperMoney to find a product that’s right for you.

Payday Loans In Ohio

Maximum Loan Amount: $1,000

Minimum Loan Term: 91 days

Maximum Loan Term: 365 days

Maximum APR: 28%

Rollovers: Prohibited

Loan Limit: Total loan proceeds cannot exceed $2,500

 

Payday loans are legal in Ohio.

However, House Bill 123 amended Ohio’s payday loan laws earlier this year, capping loans at $1,000 and APRs at 28%. You can read more about the bill here. Borrowers are prohibited from carrying more than $2,500 in total payday loan debt and terms require a minimum of 91 days.

Licensed lenders are also required to post at each storefront in a minimum of size-10 font:

“WARNING: The cost of this loan is higher than the average cost charged by financial institutions, such as banks or credit unions, on substantially similar loans. A financial institution may be able to offer you a similar loan at a lower cost.”

Elite Personal Finance

Recommended Articles

Debt

Best Loans for Good and Bad Credit Oregon, Payday Loans, Auto Title Loans 2020

EPF January 18, 2020

View All Studies [toc] Best Personal Loans for Bad Credit In Oregon 2020 Best Good Credit Loans In Oregon 2020 Payday Loan Laws Oregon 2020 Maximum Loan Amount: $500 Minimum Loan Term: 12 days Maximum Loan Term: 45 days Maximum APR:...

Debt

Best Personal Loans for Good and Bad Credit, Payday, Auto Title Laws Oklahoma 2020

EPF January 18, 2020

View All Studies [toc] Best Personal Loans for Bad Credit In Oklahoma 2020 Best Good Credit Loans In Oklahoma 2020 Payday Loan Laws Oklahoma 2020 Maximum Loan Amount: $500 Minimum Loan Term: 12 days Maximum Loan Term: 45 days Maximum APR:...

Privacy & Security

Privacy and Security

Elite Personal Finance takes your privacy very seriously.

We always use a secure and up-to-date SSL certificate to provide a private connection to our site.

Learn more

We have a very transparent privacy policy.

Learn more

We help you to be safe online by writing guides on safety, security and identity theft.

Learn more

In addition, we collect only minimum and necessary personal details on our site. In brief, visiting our site is ultimately safe and secure. However, we have to say that no one can be 100% secure online.

AS SEEN ON