Best Loans in Iowa, Payday, Auto Title Laws of October 2024
Best Loans in All States
According to Chapter 536 of Iowa’s Code of Commerce, regulated loans are capped at $25,000. Allowable finance charges include:
- 3% per month on balances ≤ $150.
- 2% per month on balances > $150 but ≤ $300.
- 1 ½% per month on balances > $300 but ≤ $700.
- 1% per month on the remaining balance exceeding $700.
For Consumer Credit Loans, Chapter 537 of Iowa’s Consumer Credit Code caps loans at $1,000. Finance charges cannot exceed 21% per year, and the maximum loan term is 25 months for loans of $300 or less and 37 months for loans greater than $300.
Other allowable charges include:
- A delinquency charge (after the loan is 10 days past due) of 5% or a maximum of $30.
- A non-sufficient funds (NSF) fee of 5% or $20, whichever is greater.
Best Bad Credit Loans in Iowa of October 2024
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