Payday loans in Indianapolis, IN | finder.com

Compare your loan options in Indianapolis, Indiana

A payday loan could help residents of Indianapolis through a rough financial situation.

Whether you need a payday loan because of an unexpected bill or a problem with your budget, if you’re considering getting a payday loan and live in Indianapolis, go through this guide first so you have the right information before applying.

Check into Cash Payday Loan

Check into Cash Loans

Apply for direct a payday loan online and have your cash when you need it.

  • Min. Loan Amount: $50
  • Max. Loan Amount: $1,000
  • Turnaround Time: 1–2 business days
  • Must be 18+
  • No security deposit needed
  • Confidential and secure

    Are payday loans legal in Indianapolis?

    Payday loans are legal throughout Indiana, but the process of borrowing can be complicated because of Indiana’s laws. You can borrow up to $550 or 20% of your income, whichever is less, for at least 14 days. However, depending on the amount you borrow, your financing fee will differ.

    Read your contract carefully to learn about the total cost of your individual loan.

    You can read more about Indiana’s financing fees and general laws here

    Compare these lenders if you’re looking into a short-term loan in Indianapolis

    Rates last updated April 22nd, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    Varies by state
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
    $250
    7–30 days
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    ACE Cash Express Payday Loans
    Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.
    LoanByPhone Payday and Installment Loans
    This mobile lender offers convenient cash loans. Apply online or by phone.
    $3,000
    Varies by state
    1–2 business days
    Must be 21 years old and have a Social Security number, a regular source of income, a valid email address, an active checking account and a phone number.
    BadCreditLoans.com
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    3 to 36 months
    Varies
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.

    Compare up to 4 providers

    Why you might consider a payday loan in Indianapolis

    • Long minimum loan term. Unlike some states where there is no minimum loan term or it’s set at seven days, Indiana has loan terms of at least 14 days. This is to help give consumers more time to pay back the loan in full.
    • Limits to the number of outstanding loans. Indiana law states that you can’t have more than two loans borrowed at any time, and both must be from separate lenders.
    • There are repayment plans available. After three consecutive loans, your lender is required to offer you an extended payment plan at no extra cost. This way, you can repay the loan in four equal installments and avoid any extra fees that might come with taking out another loan.

    Amanda needs to pay for a car repair

    woman car breakdown

    After a recent car accident, Amanda needed to get her car repaired. Unfortunately, she didn’t have the money at the time and her next payday was nearly two weeks away. Without her car, she wasn’t able to get to work, but her bad credit meant she didn’t qualify for a personal loan from her bank. She figured applying for a payday loan was her only option, so she hopped online and found a short-term lender.

    She was approved for $550. Before signing, Amanda read the contract and made sure she liked the terms. The loan was due in 14 days and her fees were calculated to be $75. She agreed to the terms, and the money was transferred into her account the next business day.

    In two weeks, the $625 was debited from her checking account. The payment went through without any problems, and Amanda was able to have her car repaired without spending too much extra in fees.

    How can I apply for a payday loan?

    All lenders have different eligibility criteria, but you’ll usually have to be a US citizen or permanent resident, have a regular source of income and be at least 18 years old.

    When you decide on a lender, either from the list above or by visiting a local store, you’ll need to be prepared to submit some personal information. This includes your name, Social Security number and your current employment situation. Lenders will also want to know your gross monthly income and if you have an operational checking account.

    If you aren’t approved for a payday loan, check out the alternatives here

    Short-term lenders near you in Indianapolis, Indiana

    Where to go to get a short-term loan in Indianapolis

    • Check into Cash. 3502 W 86th St, Indianapolis, IN 46268
    • A-1 Cash Advance. 8504 E Washington St, Indianapolis, IN 46219
    • Check Cash. 9940 Pendleton Pike Suite A, Indianapolis, IN 46236
    • Check ‘n Go. 8201 Pendleton Pike, Indianapolis, IN 46226
    • Credit Corp Payday Loans. 1236 W 86th St, Indianapolis, IN 46260
    • Advance America. 4479 E 10th St, Indianapolis, IN 46201

    How much will a payday loan in Indianapolis cost?

    How much a lender can charge you in the form of a financing fee depends on how much you want to borrow.

    • $50 to $250. 15%
    • $251 to $400. 13%
    • $401 to $500. 10%

    These charges stack. For instance, if you want to borrow a loan of $300, the first $250 will be charged a financing fee of 15% while the remaining $50 will be charged at 13%. This brings your total to $51.50 in fees.

    If you want to borrow $450, the first $250 will be charged at 15%, the next $150 will be charged at 13% and the remaining $50 will be charged at 10%. Your total fees then would be $69.50.

    All lenders are required to outline the total cost of your loan, so check your contract carefully to see how much you’ll end up paying back on the due date.

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    US Payday Loans Offers

    Important Information*
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.

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