Kentucky Payday Loans
You bounce a check or are late on bills and you pay a penalty fee. You get a payday loan and you pay an interest rate. But no matter what it's called or how it's measured, the cost is in dollars. So sometimes payday loans are the cheapest option. This page has what we have found are the lowest online loan rates for people living in Kentucky. If you know of a online lender with cheaper rates for your state, please contact us.
PaydayOne.com
Finance Charges
| Loan Amount |
Interest and Fees |
Total Due |
APR 14 days |
| $100 | $17.50 | $117.50 | 456.25% |
| $150 | $26.25 | $176.25 | 456.25% |
| $200 | $35.00 | $235.00 | 456.25% |
| $250 | $43.75 | $293.75 | 456.25% |
| $300 | $52.50 | $352.50 | 456.25% |
| $350 | $61.25 | $411.25 | 456.25% |
| $400 | $70.00 | $470.00 | 456.25% |
| $450 | $78.75 | $528.75 | 456.25% |
| $500 | $87.50 | $587.50 | 456.25% |
| $550 | $96.25 | $646.25 | 456.25% |
| $600 | $105.00 | $705.00 | 456.25% |
| $650 | $113.75 | $763.75 | 456.25% |
| $700 | $122.50 | $822.50 | 456.25% |
| $750 | $131.25 | $881.25 | 456.25% |
| $800 | $140.00 | $940.00 | 456.25% |
| $850 | $148.75 | $998.75 | 456.25% |
| $900 | $157.50 | $1057.50 | 456.25% |
| $950 | $166.25 | $1116.25 | 456.25% |
| $1000 | $175.00 | $1175.00 | 456.25% |
Terms
The maximum payday loan for Kentucky residents is $1000.The maximum loan term is 41 days.
Requirements
You must be at least 18 years old and have:- A job or proven source of income
- An email address
- A verifiable phone
- A checking account in good standing (PayDay One defines an account in good standing if it shows 30 days of transaction history without any non-sufficient fund transactions, returned checks, overdraft charges, or negative account balances.)
Guarantee
If you find a lower price from another similarly licensed online lender we'll match it.Summary of Relevant Legal Excerpts for Kentucky Payday Loans
Section 286.9-100 Procedures to be followed by licensees.
- The borrower is to receive a copy of the written payday loan agreement which includes the date, the fee charged for the loan, and the borrower's and lender's signatures.
- The maximum fee allowed is $15 for each $100 loaned and is considered a a service charge and not interest. This fee is to be prorated for amounts less than the hundred dollar increments.
- The service fee covers a loan term of 14 days.
- No security or third-party guaranty is to be required for a payday loan
- The maximum loan amount is $500 and the maximum term is 60 days.
- A borrower can have only one payday loan outstanding with a lender at the same time.
- If a borrower has more than one loan outstanding at the same time, the total amount for all the loans may not exceed $500.
- Payday lenders are not permitted to create or use any means of creating any unauthorized fees.
- Lenders are not allowed to renew, roll over or consolidate loans.
- A lender may not prosecute nor threaten to prosecute a borrower for writing a bad check under the provisions of KRS 514.040, theft by deception.
Section 286.9-102 Requirements of disclosure by licensees – fees and service charges – acceptance, payment, and deposit of checks.
Payday lenders are to give borrowers the disclosures required by the Consumer Credit Protection Act (15 U.S.C. sec. 1601).
A lender may collect a bad check fee if the terms and conditions are disclosed in writing to the borrower.
DISCLAIMER: The documentation on this site is for informational purposes only and is not intended to be a legal substitute for the official versions. There is no guarantee for accuracy, completeness, or timeliness of the information provided. Refer to the lender for the fees charged or other loan questions. Consult with your legal advisor for help in interpreting individual statutes. All ownership rights for the material not original to this site remain with the respective copyright holders.