Applying for online payday loans in Oklahoma
PaydayChampion is happy to provide fast, secure, and easy loans to Oklahoma residents. Whether you live in Tulsa, Oklahoma City, or any other place, we have got you covered. Bad credit or not we can assist.
We offer payday loans OKC that are secure, convenient, and easy to qualify for with “no credit check“. The loans can be a perfect solution for anyone with a financial emergency.
According to the WHO, the pandemic is here to stay, and with the current economic conditions, paying bills on time is at times challenging. With online payday loans, you can cover any short-term financing needed, including emergencies, and pay the money as soon as your paycheck arrives.
Why you might need a payday loan
Various reasons force people to apply for payday loans in Oklahoma. It might be an emergency car repair, or you feel ill all of a sudden and had to see a doctor.
Or maybe you are late on utility bill payments and getting threats from creditors. It might be that you lost your job and don’t have enough money to cater to family needs at the moment. Or your family visited from upcountry and you need extra cash for groceries.
All these are the best reasons why you should fill an online loan application today. If we are satisfied with the information you provide, we approve the money on the same or next business day. It all depends on the application time among other few things.
Regulation of payday loans in Oklahoma
It is legal to apply for payday loans in Oklahoma. Here are the state rules and regulations governing these loans:
- The payday loan term is between 12 and 45 days
- The fee charged depends on the loan amount
- You are only allowed to have a maximum of 2 payday loans at a time
- If you default, the lender can file charges against you
The cost of payday loans in Oklahoma
For every $100 you borrow, the lender will take $15 as fee. If you apply for a loan amount of $300, the fee charged will be $45. After this, the lender will charge $10 for every extra $100 borrowed.
Let’s assume the loan amount is $500. Here is a breakdown of the cost:
The first 300- $45 fee
Next 100 – $10 fees
Next 100- $10 fees
Total fees $65
In short, the maximum fee charges for a $500 loan is $65.
Online payday loans in Oklahoma are meant for short term use. Only apply for the money if you are sure of paying back on time. This will help avoid additional interest and fees.
Borrowers are required to have a cool-off period after applying for payday loans 5 consecutive times. The cool-off period is a time when you refrain from applying for another loan. This is usually 2 business days in Oklahoma. After the third consecutive loan, you pay the loan in 4 installments.
Payday loans Oklahoma- FAQs
Who can qualify for a payday loan in Oklahoma?
Anyone who meets the following requirements can apply and qualify for Oklahoma payday loans;
- Have an active checking account
- Have a government-issued ID card
- Has a reliable and legal source of income
- Is a permanent resident of Oklahoma
Repayment of payday loans OKC
Just like applying for a payday loan in Oklahoma, it is easy to understand how loan repayments work. One way is to authorize the lender to directly deduct the money from your bank account.
If you applied for the loan instore, you can still make your payments in the same location. But confirm with your lender before repaying the loan.