Idaho Payday Loans

IdahoFlagIt can be tricky to get a payday loan, especially if you’re not sure about the rules and regulations governing the process. For those considering taking a payday loan in Idaho, this site offers updated information about the process as mandated by the state. We aims to help borrowers make the most of their payday’s loans by transacting only with verified companies that follow Idaho standards. For more specific information about Idaho’s cash loan process, read on.

Payday Loan Process in Idaho

To obtain a cash advance in Idaho, borrowers must meet a specific set of requirement including but not limited to:

  • Borrower must be within legal age
  • Borrower must be a resident of Idaho
  • Borrower must have a stable employment and meets minimum monthly income requirements.
  • Borrower must have a savings or checking’s account

Many lenders in Idaho have no qualms about transacting with borrowers with bad credit history. Depending on the lender’s policy, individuals may utilize an Automatic Payback system which lets them avoid high payment rates. Lenders can be found online or through land-based offices within the state. The length of time between application and receipt of the funds usually takes less than a week, depending on the lender’s regulations.


Idaho Payday Loan Laws and Regulations

Following are the regulation caps set by the state of Idaho for lenders.


  1. Maximum allowable loan: $1000
  2. Loan term: Not specified
  3. APR for a $100 loan in 14 days: No Limit
  4. Number of allowable outstanding loans at a time: Not specified
  5. Rollovers: Three allowable renewals
  6. Collection Fee: $20 NSF

Unfortunately, Idaho does not have a maximum allowable rate for fees which gives lenders leeway on how much to charge. There is also no cooling off period specified and a repayment plan is within the lender’s discretion. All lenders operating within Idaho are required to meet these specifications as a way of protecting the consumers.


Idaho Consumer Protection

Problems, questions and complaints with Idaho payday loan can be directed to the proper authorities. Idaho residents are encouraged to verify the validity of their lender before deciding to pursue the transaction. Today, the state’s payday loans are being monitored by the Idaho Department of Finance.

Address: Consumer Finance Bureau at 800 Park Boulevard, Suite 200m Boise ID 83712

Idaho Department of Finance
Phone: (208) 332-8000
Toll-Free (Within Idaho Only): (888) 346-3378

Person to Seek: Mike Larsen, Chief of Consumer Finance Bureau  strongly recommends researching Idaho payday loan laws before doing anything. This is the best way of protecting yourself as a consumer while still retaining your rights for a cash advance loan.


Idaho Payday Loan Alternatives

If you’re not prepared to pay for the enforced rates set up by the lender, there are alternatives to Idaho payday loans. Credit cards and pawnshops would allow you to pay your debt at leisure. For large amounts, the bank provides friendlier interest rates for a long-term loan.

Map of Idaho



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