Personal Loans in Idaho:

Idaho Payday Loan Laws and Idaho Loan Regulations

Legal Status: Legal

Citation: Idaho Code §§ 28-46-401 et seq.

State Licensed Online Lenders:
CashCentral, CashNetUSA, ChecknGo, QLoot, SpeedyCash
Maximum Loan Amount: $1000
Loan Term: Not Specified
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan:
APR for 14-day $100 loan:No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time:Not Specified ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Three (renewals)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $20 NSF fee
Criminal Action: Prohibited

State Regulatory Agencies for Payday Loans:

Regulator: Idaho Department of Finance
Address: Consumer Finance Bureau, 800 Park Blvd., Suite 200, Boise ID 83712
Fax: (208)332-8096
Regulatory Contact:Mike Larsen, Consumer Finance Bureau Chief
Idaho Department of Finance-Consumer Credit and Consumer Loan Section
Consumer Credit Licensees
Consumer Services – File a Complaint
Online Resources:
Deferred Deposit Transaction
Predatory Lending Fact Sheet

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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