Arizona Payday Loan and Cash Advance (AZ)

According to Arizona State law, it is required for payday loan lenders to operate with a valid license in the state. In the loan agreement, it must provide with a valid contact phone number and correspondence address for the purpose of protection and convenience of borrowers to file a complaint. At any one time, it is not allowed for payday loan lenders in Arizona State to sign more than one loan contract with a single borrower. Likewise for a borrower it is not allowed to have more than one overdue payday loan at any one time. Details of the Arizona payday loan requirements are summarised as follows:

  • Maximum Payday Loan Amount: Arizona payday loan lenders are restricted to issue a maximum loan amount up to $500.
  • Terms of Payday Loan: The term of loan given to all borrowers is minimum 5 days.
  • Payday Loan Extensions: According to Arizona State law, it allows up to three renewals or extensions.
  • Payday Loan Fees and Charges: The maximum payday loan fee is set to 15% of the total loan amount for any transaction or extension.
  • Payday Loan APR Rate and Fee Schedules: The typical annual percentage rate (APR) for a 14 days payday loan of $100 is 459%.

To apply for an Arizona payday loan, why not check out our recommended list of online payday loan lenders below. They covers all 50 states including Arizona (AZ).

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2 Responses to “Arizona Payday Loan and Cash Advance (AZ)”

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