By: Jamie Johnson

Online Payday Loans for Iowa Residents 

Legally valid payday loans for those who reside within Iowa

Iowa has a maximum loan amount of $500 for payday loans or cash advances. The loan might be for up to 31 days.

The financing charges should not exceed $15 on a loan that is greater than $100. It shouldn’t exceed $10 for each $100 that follows. The actual annual percentage rate (APR) is 337 percent acceptable. Roll-overs can’t be done.

The payday lending market in Iowa is fairly flexible in the regulations it adheres to. The business has operated within the same guidelines for quite a long time, and there aren’t any significant changes that need to be implemented soon.

Iowa Payday Lending Statutes

The business of payday lending firms is governed by state law that also includes Iowa Code Ann. SS 533D.One et seq. or delayed Deposit Services Licensing Act.

Any lender who wishes to operate in the state has to comply with the rules in place.

There are specific laws concerning this issue that require that borrowers sign a complete contract in English and Spanish which contains all the information regarding payday loans and fees, repayment terms and conditions, and any other data.

 The contract must be written in simple English and contain contact details of the lender as well as an emergency number that can be called to inquire about any concerns or questions. 

If the above requirements are fulfilled, then the application for a cash advance is deemed legal. The borrower is also required to provide the contact details of the lender to the lender.

Is the sum of cash available for lending that is made available to Iowans Iowa

  • In accordance with the law of Iowa, The borrower will not be permitted to receive more than $500 in the type of 500 loans.
  • A maximum of two outstanding online loans per day is allowed.

Pricing Additional Costs, fees, and other charges in Iowa

  • A lender can’t charge more than 15 dollars for loans within $100- zero in finance charges.
  • Additionally, it is possible to cost an additional $10 for every 100 dollars following the first.
  • The price of financing will be $16.67 100 dollars over two weeks.

The most popular term for a payday loan in Iowa

  • The loan’s most extended duration is when the loan is due to be paid back within 31 calendar days.
  • The rollovers (also known as extensions) are not permitted in any way, and the borrower must pay the entire payment within the specified time frame.

Consumer Information


In July 2020 and beyond, from then on, payday lenders will no longer be required to assess the ability of the borrower to pay back loans.

Beware. Take the time to review your financial situation and make sure you don’t get into financial distress.
The rule was amended in the CFPB.

  • A direct lender is permitted to charge not more than fifteen dollars for a cost if funds are not enough and also any cost associated with checks not returned.
  • The current law in Iowa is that the State of Iowa has no specific guidelines on the penalties for criminals who default on payments. One thing that is not permitted is that reputable lenders can’t threaten the lender with criminal charges or another method.

Additional details about a payday or installment loan in Iowa can be found on the official site by the Iowa Division of Banking.

You can make an investigation to your local Division of banking in case of fraud of any kind that the lender commits.


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Jamie Johnson is a freelance writer with a focus on business and finance who lives in Kansas City. She covers a wide range of personal finance themes, including credit card creation and construction, as well as personal and student loans. Her work has been featured in Business Insider, CO by the United States Chamber of Commerce, GOBankingRates, and Yahoo! Finance, in addition to contributing articles for PaydayNow.

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