Payday loans OKC

Payday loans in Oklahoma are cash advances offered in small amounts. Borrowers use this money to pay for an emergency and other short term expenses like utility bills.

Oklahoma state permits payday lending. There are however restrictions which include the following:

  • The maximum payday loan amount should not be more than $500
  •  Borrowers are restricted to only applying for two payday loans at any given time. 
  • These loans should have a term of between 12 and 45 days. 
  • The finance charges should not be more than 15% for every $100 borrowed

Anyone living in Lawton, Tulsa, Norman, Ada, Stillwater, and other nearby cities can apply.  Get started today by filling our online loan request form.

You can qualify for a loan amount of up to $500 within a few minutes.  The faster approval will also ensure that you get the money as soon as you need it.

How payday loans OKC work

OakParkFinancial has made it easier to qualify for payday loans in Oklahoma. You can apply for the loan online. The process only takes a few minutes. No paperwork, no driving, and no waiting in long queues.

The application is easier, fast, and secure.  We will then review your application and give instant feedback.  If you qualify, we will send the money to your bank account within 24 hours.

Once the loan matures, we will debit the principal amount, interest rate, and fees directly from your bank account.

Qualification requirements for payday loans OKC

The requirements for payday loans vary depending on the state. Oklahoma is no different from many other states when it comes to qualifying for payday loans.

There are a few basic requirements that you need to meet in order to qualify. Here are the requirements:

  • The applicant must be at least 18 years old
  • The applicant must be a permanent resident of Oklahoma
  • The applicant must have an active checking account
  • The applicant must be employed and working with the same employer for the past 6 months

Payday loan OKC – Frequently Asked Questions

How many payday loans can I qualify for?

According to state requirements, borrowers should not have more than 2 payday loans at a time. If you take out two payday loans, they must be fully paid before you qualify for a new loan. Lenders use the statewide database to confirm whether applicants have outstanding payday loans.

Is a bank account necessary to qualify for payday loans OKC?

Yes. One of the main requirements is to have an active checking account. This is where the lender deposits the funds once approved. Lenders also deduct the money directly from this account on the due date.

Can I renew my payday loan?

It is illegal to roll over payday loans in Oklahoma. You may borrow up to two payday loans, but extending them is not allowed. There is a 2-days cooling-off period after applying for 5 consecutive loans.

I can’t pay my payday loan on time, what happens?

If something happens that makes it impossible to pay the loan on time, two things are likely to happen:

  • The lender can charge a one-time fee of up to $25
  • The lender can sue you to recover the money. If the lender wins, he will collect the money using legal methods

Can I go to jail if I default?

No. You cannot go to jail for not paying payday loans OKC.

Important:  Ensure that you ask as many questions concerning payday loans as possible. Once the loan offer is placed on the table, you have the right to accept or reject it.

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