Oklahoma Payday Loan Laws
 | Min/Max Term of Payday Loan: | 12-45 days | | Max Fees and Finance Charges: | $15 per $100: $0- $300; $10 per $100: $301-$500 | | Maximum Loan Amount: | $500 | | Number of Rollovers: | None (cannot renew; a loan made within 13 days after a previous one was entered into shall be considered a renewal and shall not be made) | | Outstanding loans allowed at one time: | 2 | | Cool-off period: | Second business day after the 5th consecutive loan repaid | | Military Protection: | Not specified | | Payment Plan: | Yes | | Limits on collection and presentment: | Not specified | | Collection fees: | $25 NSF fee (if disclosed) unless dishonored due to theft or forgery | | Presentment Limit: | Not specified | | Penalties: | Civil Fines, Suspension or revocations of license; Cease and Desist Order | | Private right of action: | Not specified |
Oklahoma Payday Loan Laws:
Oklahoma passed statutes specifically authorizing payday lending. The fees and interest rates that payday lenders are permitted to charge amount to very large annual percentage rates. APR for a 14-day $100 loan is 390%.
| Payday Loan Laws: |
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