Best Good and Bad Credit Personal Loans Rhode Island 2020 - Elite Personal Finance
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Best Good and Bad Credit Personal Loans Rhode Island 2020

EPF Last Update: May 30, 2020
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Best Personal Loans for Bad Credit in Rhode Island 2020

Amount

$500 – $5,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Licensed in Rhode Island

Yes

Amount

$100 – $1,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

7 – 30 Days

Licensed in Rhode Island

Yes

Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

< 1 Day

Terms

12 - 120 months

Licensed in Rhode Island

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 Rhode Island

Not a direct lender

Best Good Credit Loans in Rhode Island 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$1,000 – $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Rhode Island

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Rhode Island

Yes

Amount

$1,000 – $50,000

Min Credit Score

600

APR

6.98% – 35.89%

Approval

< 1 Day

Terms

3 - 5 Years

Licensed in Rhode Island

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 Rhode Island

Yes

Amount

$2,500-$35,000

Min Credit Score

660

APR

6.99-24.99%

Approval

1 Day

Terms

24 - 84 Months

Licensed in Rhode Island

Yes

Amount

$7,500 - $40,000

Min Credit Score

680

APR

6 - 15%

Approval

1 - 7 Days

Terms

36 - 84 months

Licensed in Rhode Island

Yes

You can also check out our full list of recommended lenders.

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Payday Loan Laws in Rhode Island 2020

According to the Rhode Island laws, payday loans are legal!

Our study found that the average payday loans APR is 400%. The interest that is allowed on payday loans in Rhode Island is 261%, which still make this business possible. However the amount on the loan can’t exceed $500. Minimum amount is not set. Only one rollover is allowed. This is a tricky part of the law because it allow people to avoid the full payment in a month, but also decrease the chance for debt cycle.

Payday loan laws  in Rhode Island are regulated by this chapter. If you want to find the fees, here is the document.

Do you know what is: “deferred deposit transactions”?

This is the way that the law name payday loans. For people who live in Rhode Island, this should make sense. However for people in other states, this is an unknown term.

All deferred deposit transactions have to be registered by The Rhode Island Department of Business Regulation. If you want to be sure that a lender is licensed, you should verify his license there.

Rhode Island Loan Laws also:

  • Require a written contract signed by both the lender and the borrower. The contract should carefully reveal fees and the APR in dollars (US). The contract should contain the full information on the loan term.
  • Require that lenders are licensed and don’t exceed the fees and the amount set according to the allowed limits.
  • Do NOT allow lenders to apply ANY criminal actions against borrowers. More information on that can be found here.

Notice from ElitePersonalFinance!

Although payday loans are legit in Rhode Island, people shouldn’t apply for them. People should use our quick bad credit guide:

  • Try personal loans. If you can’t be approved because of your low credit score.
  • Try alternative payday loans. If you can’t be approved because of your low credit score.
  • Wait and work on your credit score till you improve it.
  • Try other ways to make money.
  • Get payday loan only if you have NO other options and only if you are sure that you can pay it on time.

Payday Loan Laws in Rhode Island by Country

ElitePersonalFinance analysis of payday loan laws by countries in the State of Rhode Island.

CityAmount AllowedAPR AllowedStatus
Providence$500261%Legal
Cranston$500261%Legal
Warwick$500261%Legal
Pawtucket$500261%Legal
East Providence$500261%Legal
Woonsocket$500261%Legal
Cumberland$500261%Legal
Coventry$500261%Legal
North Providence$500261%Legal
South Kingstown$500261%Legal
Johnston$500261%Legal
West Warwick$500261%Legal
North Kingstown$500261%Legal
Newport$500261%Legal
Westerly$500261%Legal
Bristol$500261%Legal
Lincoln$500261%Legal
Smithfield$500261%Legal
Central Falls$500261%Legal
Portsmouth$500261%Legal
Burrillville$500261%Legal
Barrington$500261%Legal
Middletown$500261%Legal
Tiverton$500261%Legal
Narragansett$500261%Legal
East Greenwich$500261%Legal
North Smithfield$500261%Legal
Scituate$500261%Legal
Warren$500261%Legal
Glocester$500261%Legal
Hopkinton$500261%Legal
Charlestown$500261%Legal
Richmond$500261%Legal
Exeter$500261%Legal
West Greenwich$500261%Legal
Jamestown$500261%Legal
Foster$500261%Legal
Little Compton$500261%Legal
New Shoreham$500261%Legal

Auto Title Loans in Rhode Island 2020

Auto title loans in Rhode Island are legal but regulated by this chapter.

We at ElitePersonalFinance consider auto title loans for predatory although they are legit by laws. We found that the average APR on auto title loans is 300%, which is very expensive. So for people who plan to get them, we highly recommend that they try our bad credit loan guide above.

Best Auto Loans for Bad Credit in Rhode Island 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Rhode Island

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Rhode Island

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Rhode Island

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Rhode Island

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Rhode Island

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Rhode Island

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $45,000

Min Credit Score

0

APR

From 0.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $35,000

Min Credit Score

0

APR

From 1.99%

Licensed in Rhode Island

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Rhode Island

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Rhode Island

Yes

Best Auto Loans for Good Credit in Rhode Island 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Rhode Island

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Rhode Island

Yes

Amount

$5,000-$100,000

Min Credit Score

660

APR

4.99% to 9.19%

Licensed in Rhode Island

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Rhode Island

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Rhode Island

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Rhode Island

Yes

Amount

$3,000 - $100,000

Min Credit Score

650

APR

From 3.12%

Licensed in Rhode Island

Yes

Amount

$5,000 - $100,000

Min Credit Score

640

APR

From 3.54%

Licensed in Rhode Island

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Rhode Island

Yes

Amount

$5,000 - $100,000

Min Credit Score

600

APR

3.54% - 10.24%

Licensed in Rhode Island

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Rhode Island

Yes

FHA Loans in Rhode Island

Rhode Island has 5 counties with FHA Limits ranging from a low of $460,000 for a 1-bedroom unit in Bristol County to a high of $884,600 for a 4-bedroom unit in Bristol County.

FHA Loans in Rhode Island

Rhode Island has 5 counties with FHA Limits ranging from a low of $460,000 for a 1-bedroom unit in Bristol County to a high of $884,600 for a 4-bedroom unit in Bristol County.

CountySingle Unit Limit (lowest)Four-Plex Limit (highest)
Bristol County$460,000$884,600
Kent County$460,000$884,600
Newport County$460,000$884,600
Providence County$460,000$884,600
Washington County$460,000$884,600

Business Loans in Rhode Island

Amount

Up to $10,000,000

APR

Vary

Min Credit Score

0

Licensed in Rhode Island

Yes

Amount

$5,000 - $500,000

APR

9.77% - 35.98%

Min Credit Score

600

Licensed in Rhode Island

Yes

Amount

$5,000 - $500,000

APR

5.99% – 35.99%

Min Credit Score

500

Licensed in Rhode Island

Yes

Amount

Up to $250,000

APR

24% – 99%

Min Credit Score

560

Licensed in Rhode Island

Yes

Amount

Up to $350,000

APR

9.28 - 10.52%

Min Credit Score

650

Licensed in Rhode Island

Yes

Amount

Up to $350,000

APR

10.00 - 25.00%

Min Credit Score

680

Licensed in Rhode Island

Yes

Amount

$75,000 - $5,000,000

APR

5.50 - 8.25%

Min Credit Score

650

Licensed in Rhode Island

Yes

Amount

Up to $500,000

APR

12.18 - 36.00%

Min Credit Score

660

Licensed in Rhode Island

Yes

Amount

Up to $500,000

APR

9.00 - 99.00%

Min Credit Score

600

Licensed in Rhode Island

Yes

Amount

Up to $5,000,000

APR

15.00 - 78.00%

Min Credit Score

600

Licensed in Rhode Island

Yes

Amount

Up to $1,000,000

APR

Vary

Min Credit Score

0

Licensed in Rhode Island

Yes

Amount

$6,000 to $250,000

APR

Vary

Min Credit Score

0

Licensed in Rhode Island

Yes

All Licensed Credit Unions in Rhode Island

NameCitySize (Millions)Members
PAWTUCKET CREDIT UNIONPawtucket$1,312.3069678
GREENWOOD CREDIT UNIONWarwick$327.7357044
NAVIGANT CREDIT UNIONSmithfield$1,256.6249306
COVENTRY CREDIT UNIONCoventry$248.3630111
THE PEOPLES CREDIT UNIONMiddletown$372.5327758
RHODE ISLAND CREDIT UNIONProvidence$230.0724978
WESTERLY COMMUNITY CREDIT UNIONWesterly$211.5915352
WAVE FEDERAL CREDIT UNIONWarwick$114.077807
DEXTER CREDIT UNIONCentral Falls$122.386574
COLUMBUS CREDIT UNIONWarren$67.926409
BLACKSTONE RIVER FEDERAL CREDIT UNIONWoonsocket$44.014577
WOODLAWN FEDERAL CREDIT UNIONPawtucket$12.294369
POSTAL GOVERNMENT EMPLOYEES FEDERAL CREDIT UNIONProvidence$38.504211
ALLIANCE BLACKSTONE VALLEY FEDERAL CREDIT UNIONPawtucket$39.414124
CRANSTON MUNICIPAL EMPLOYEES CREDIT UNIONCranston$55.053153
COMMUNITY & TEACHERS FEDERAL CREDIT UNIONEast Providence$20.092390
KENT COUNTY MEMORIAL HOSPITAL EMP. FEDERAL CREDIT UNIONWarwick$11.862329
CUMBERLAND MUNICIPAL EMPLOYEES FEDERAL CREDIT UNIONCumberland$8.761173
PAWTUCKET MUNICIPAL EMPLOYEES FEDERAL CREDIT UNIONPawtucket$3.60951
POSTAL EMPLOYEES REGIONAL FEDERAL CREDIT UNIONPawtucket$7.22788
COVENTRY TEACHERS FEDERAL CREDIT UNIONCoventry$2.77551
CAROL WIRE & CABLE CORP EMP FEDERAL CREDIT UNIONLincoln$0.58198
NATCO EMPLOYEES FEDERAL CREDIT UNIONWest Warwick$0.2378

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