Payday loan laws in Iowa

  • Status: Legal (Iowa Code Ann. 533D.1 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: $500
  • Loan tenure: Should not exceed 31 days
  • Fees and finance charges: Up to $100=15%; after that $10 on each $100
  • Finance charge on a 14-day $100 loan: $16.67
  • APR on 14-day $100 loan: 433%

Collection restrictions:

  • Collection fees: One $15 NSF fee
  • Criminal procedures: Not specified
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: Two
  • Rollovers allowed: None

Complaint cell:



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