Payday loans in Kansas | finder.com

Compare your loan options in Kansas

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Payday loans can be costly, so familiarize yourself with the fees before you borrow.

When you’re in need of quick funding to get through a gap in the budget or an emergency expense, you may be thinking of taking out a payday loan. When you know how much you’ll need to spend to avoid too much debt, they can be a good option. Our page on the laws and regulations surrounding payday lending in Kansas will help you make the best decision for your budget.

Our top pick: OppLoans Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

Comes with the option to change your due date so you won’t fall behind on repayments.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
Promoted

Can I get a payday loan in Kansas?

Yes, you can apply for a payday loan if you’re a resident of Kansas. Loans are governed by Kansas Statutes § 16a-2-404 and -405.

Here are the terms your loan must follow:

  • Maximum Loan Amount: $500
  • Loan Term: 7 to 30 days
  • Financing fees: 15% of the principal
  • APR: A 14-day $100 loan has an APR of 390%
  • Collection fees: Lenders may charge one collection fee

What does Kansas not allow payday lenders to do?

Kansas law doesn’t permit rollovers or refinancing of your loan. Kansas law also doesn’t require lenders to provide a repayment plan, but you may be able to work one out if you ask your lender.

Compare payday loans in Kansas

Check the websites of any providers you’re interested in to confirm they operate in Kansas.

Updated September 23rd, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
$50,000
Same business day to 1 business days
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
Get a flexible installment loan with fast funding through one easy online application form.
$3,000
1 business day
Checking account, $1,500+ monthly income, recent pay stub, live in eligible state, 18+ years old
Financing with transparent terms to residents of five states.
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
$10,000
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

Compare up to 4 providers

How can I apply?

Applying for a payday loan is a straightforward process. To qualify, you’ll have to be at least 18 years old, a citizen or permanent resident of the US and have a regular source of income.

Most lenders will also want you to supply your Social Security number to confirm your identity, and the application usually has questions regarding your employment, income and personal information.

If you’re applying online, you’ll likely need to provider your checking account number as well. This allows the lender to deposit the approved funds into your bank account and debit payments when they’re due.

Lawmakers are considering introducing a bill that would limit the maximum APR to 36%. This is still being discussed and hasn’t happened yet, but it would follow the national trend seeking to limit the high interest rates associated with payday lending.

Keep an eye out for changes in the coming years — while lenders may fight against it, a 36% APR is beneficial to consumers.

What are the pros and cons of taking out a payday loan in Kansas?

Before applying, you’ll want to weigh the benefits and drawbacks of this high-cost loan. Here are a few to consider:

Pros

  • Qualify with bad credit. Even if you have less-than-perfect credit, many payday lenders could approve your application. They tend to consider your income in relation to the amount you want to borrow as more important.
  • Low income is OK. You’ll need to demonstrate that you can afford to repay your loan. That being said, income requirements usually aren’t high for payday lenders in Kansas. Many don’t have a set minimum and others start at $800 per month.
  • Fast turnaround. You could get your approved funds as soon as the next business day with some lenders. This depends on the time of day you apply and if any additional verification is needed.

Cons

  • High costs. With a maximum APR limit of 390%, payday loans in Kansas could end up costing you over $100 in finance charges alone.
  • Repeat borrowing. Many borrowers find themselves taking out loans multiple times as they depend on it for unexpected expenses. To avoid a payday loan cycle, consider ways to keep your debt down and have more free cash throughout the month.

Alternatives to consider

It’s important to understand that payday loans are high-cost solutions to a short-term need for emergency cash. When you have ongoing financial issues, it may be better to look into some alternatives ways to get funding.

Kansas offers assistance through The Successful Families Program and the Kansas Department of Children and Families. Other options for quick funding include getting a cash advance from an employer or an active credit card, asking friends and/or family for help or simply negotiating with your creditors for lower payments.

View more payday loan alternatives here

Have any more questions about payday loans?

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

One Response

  1. Avatarfinder Customer Care
    JoshuaMay 21, 2019Staff

    Hi Christa,

    Thanks for getting in touch with Finder. I hope all is well with you. 😃

    Yes, it is possible for you to get a $500 loan provided that you meet their eligibility requirements. However, since many of your options may fall into the short-term loan category, it will likely cost you more than the average personal loan.

    To know more about how to get a loan without a bank account, please go to this page. On that page, you will see a table that allows you to conveniently compare your options for getting a loan without a bank account. The table compares your options based on loan type, eligibility, and cost, to name a few. Once you found the right one for you, click on the redirect green button to learn more or initiate your application.

    Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

    I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

    Have a wonderful day!

    Cheers,
    Joshua

Go to site