Cash Advance Payday Loans in Texas - Why They Are They Different & What That Means To Borrowers

Getting a cash advance payday loan in Texas is pretty easy, but there are a couple of things you need to know before you get started. Cash advance payday loans are strictly regulated in the state of Texas, which means you will find set limits and loans that have to be considered ahead of borrowing.

The Maximum Loan Term is 31 Days

Rate of Texas Cash Advance Loans: Rate of Texas Cash Advance Loans

Cash advance payday loans can can be found in handy when you're inside a pinch, but at some point, you'll must pay pack what you borrow. Cash advance payday loans in Texas use a maximum loan term of 31 days. It ought to be noted, however, that terms will vary based on in places you get a cash advance from. Loan terms of 7 to 14 days usually are not uncommon.

Cash Advance Payday Loans in Texas - Why They Are They Different & What That Means To Borrowers

You Are Only Able To Borrow A Lot

Because cash advance payday loans fall into the small loan category, state laws typically dictate the most amount of cash that can be borrowed. This amount varies from state to state. In Texas, the maximum amount on aggregate cash advance payday loans is 0. At this time, there exists no limit to the amount of loans you get, but altogether, they can't total a lot more than the 0 maximum.

Rates and Fees Vary

Cash advance payday loans aren't diverse from other types of loans. Rates and fees will be different based on that you go. There are limits though towards the amount it can be done to be charged in interest and loan fees. Lenders cannot charge more than per loan and 48 percent annual interest on cash advance payday loans in Texas. There can also be a limit on the finance charge that may be applied to a loan. Current Texas law stipulates a maximum of on a 14-day 0 payday loan.