The state of Oklahoma allows companies to lend up to $500 and has a relatively low limit on how much you can be charged in fees from payday loan companies. If you borrowed the full $500 from a company you’d pay $15 on the first three $100 amounts then $10 on every $100 amount thereafter so you’d end up paying back $65 in fees at the very most.
This state does not allow rollovers but more than a few payday loan institutions will simply offer you the chance to get an alternative installment loan instead. These can be paid off over much longer periods of time though they often have much higher fees in the long run.
Oklahoma Pay Day Loan Laws
Maximum Loan Amount: $500.
Maximum Fees on a Pay Day Loan: $15. per $100 borrowed on loans up to $300.; $10 per $100. thereafter, on loans above $300.
Annual Percentage Rate: 450% on a 14-day, $100. loan
Minimum Payoff Time: 12 days
Maximum Payoff Time: 45 days
Extensions Allowed: Rollovers are not allowed on pay day loans in Oklahoma
Top 5 Oklahoma Pay Day Loan Companies
6000 East Reno Ave
Midwest City, OK
(405) 246-3764
myquickpaydayloans.com
Payday Loans is a brick and mortar payday loan center where you can go to acquire a payday loan very quickly with little hassle. The requirements to get a payday loan here are some recent paycheck stubs, proof of residency and a bank account in good standing. These may change occasionally so it’s a good idea to call them before you visit to confirm you’ve got everything you need.
1600 Nw 23rd Street
Oklahoma City, OK
(405) 525-9403
cashamerica.com
Cash America Pawn has developed a good reputation as being a pawn shop that offers high rates for pawned goods and also sells things at a great price. This company offers payday loan services in addition to their familiar pawn shop area. The payday loans offered can vary depending on how much you make per month and are also offered to those on fixed incomes. This is a very popular store in Oklahoma and you can visit their official website to check out current specials or deals available.
1323 Gateway Plaza
Midwest City, OK
(405) 733-0517
checkintocash.com
Check Into Cash is a very well known payday loan company with locations across Oklahoma and the entire US. The sheer amount of physical offices around make this a popular choice for quick and easy short-term loans. Once you become a member and sign up to use their services, you can use them from any of their physical offices.
614 West Main Street
Norman, OK
(405) 366-7277
checkmatecheckcashing.com
Checkmate is best known as being a one-stop personal finance shop. You can come in and get checks cashed, buy phone cards and debit cards and get short-term payday loans. Payday loans with this company go up to $500 and they have all their rates and fees available to view online. You can call this company any time to see if you qualify for a payday loan so you don’t waste time visiting them in person.
1800 S Air Depot Blvd # A
Midwest City, OK
(405) 733-0400
approvedcashadvance.com
Approved Cash Advance has a ton of useful information available on their website that you can use to make an informed decision on how much to borrow. They offer loans up to $500 in the state of Oklahoma but that doesn’t necessarily mean you have to take the full amount. This company encourages you to read over some of their helpful personal finance articles that explain payday loans and other aspects of budgeting and financial planning.