RATES and TERMS

Payday loans in Louisiana are subject to specific rates and terms outlined by state regulations. The maximum loan amount that can be borrowed is $350, and the loan term cannot exceed 60 days. Lenders are permitted to charge a finance charge of up to 16.75% of the loan amount, which can result in an Annual Percentage Rate (APR) of up to 391%. Additionally, borrowers are restricted to one outstanding loan at a time and are prohibited from renewing or extending their loans. It is important for individuals considering payday loans in Louisiana to carefully review the rates and terms provided by lenders and to ensure their ability to repay the loan within the specified timeframe.

 

Payday Loan Rates and Terms in Louisiana

Gmoney finance charges for payday loans in Louisiana.

Loan Amount   Finance Charge   Doc Fee     APR% (Based on 14 day term, 365 day year)

$50.00               $10.00                    $10.00       1042.85%

$75.00               $15.00                    $10.00       869.04%

$100.00             $20.00                    $10.00       782.14%

$125.00             $25.00                    $10.00       730.00%

$150.00             $30.00                    $10.00       695.23%

$175.00             $35.00                    $10.00       670.40%

$200.00            $40.00                     $10.00       651.78%

$225.00            $45.00                     $10.00       637.30%

$250.00            $45.00                     $10.00       573.57%

$275.00            $45.00                     $10.00       521.42%

$300.00            $45.00                    $10.00        477.97%

Returned Check Charge  $25.00

Minimum Loan                  $50.00

Maximum Loan                 $300.00