HAWAII PERSONAL LOAN RATES AND TERMS:

Personal Loans in Hawaii:

Hawaii Payday Loan Laws and Hawaii Loan Regulations

Legal Status: Legal(Applies to check cashiers only)

Citation: Hawaii Rev. Stat. Ann. 480F-1 et seq.


Hawaii State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, ChecknGo.com, SpeedyCash.com
Maximum Loan Amount: $600
Loan Term: Max: 32 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%


Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance or consolidate)

Collection Limits:
Collection Fees: $20 NSF fee; Check Casher that accepts check passed on insufficient funds not entitled to recover damages
Criminal Action: Prohibited(Unless check returned due to closed account or stop-payment by maker)


State Regulatory Agencies for Payday Loans:

Regulator: Hawaii Department of Commerce and Consumer Affairs
Address: Consumer Resource Center, 235 S. Beretania Street, Rm 801 Honolulu HI 96813
Phone:(808)587-3222
Fax:(808)586-2640
Regulatory Contact:
Hawaii Division Of Financial Institutions
Licensee Search
Consumer Services – File a Complaint
Online Resources:
Deferred Deposit Agreements
Predatory Lending

The cost of a personal loan:

The cost of a personal loan

Personal Installment Loan Basic Terms:

  • Loan Amount: $1,000 - $10,000
  • Interest Rate: 25% - 95%
  • Lending Period: 12 Months-36 Months
  • Payment Frequency: Bi-Weekly or Monthly
  • The actual APR will be applied based on credit score and repayment history
  • No prepayment penalties or additional charges for early payments
  • The option to pay the loan in full before the due date and only pay the interest rate for the period the loan was outstanding

Installment Loan Examples:

The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.

Borrowed Amount Loan Period Monthly Payments Total Payable Amount
$2,000 12 Months $199.93 $2,399.16
$4,000 24 Months $234.07 $5,617.68
$6,000 36 Months $271.41 $9,771.12
$8,000 36 Months $361.89 $13,028.04

* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.



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