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Idaho Payday Loans: Same-Day Direct Lenders

GreenDayOnline provides Idaho residents with quick, no-hassle online payday loans. Whether you have good or bad credit, you can still qualify for payday loans in Idaho to help you manage your financial emergencies. GreenDayOnline approve the loan within a few minutes of applying and get the money in your bank account in less than 24 hours.

Apply for one of our online loans right now!

What Exactly Is a Payday Loan?

In Idaho, a payday loan is a short-term, unsecured loan typically repaid on your next payday. These loans are also known as cash advances or check loans.

Payday loans can be expensive to borrow money from, and borrowers should only take them out if they must.

Make sure you can repay the full loan on your next payday before taking it out.

What Is the Maximum Amount I Can Borrow?

The maximum amount you can borrow with a payday loan in Idaho is $1000. The loan term is typically two weeks but can be up to one month. However, these amounts vary from one lender to another, depending on the repayment ability. 

What Are the Fees and Interest Rates?

The fees for a payday loan in Idaho vary from lender to lender but are typically $15-$30 per $100 borrowed. A 0 loan might cost $45-$90 in fees.

The interest rate is also variable and is typically 400% APR or higher.

Is There Anything You Should Know About Idaho Payday Loans?

Before taking one out in Idaho, borrowers need to know a few things about payday loans.

You should repay them on your next payday:

Payday loans are short-term loans that you must repay on your next payday. You must have sufficient funds to repay the loan by the specified date. There may be additional costs, such as interest or fees.

The interest rates on payday loans can be high:

Interest rates on payday loans are typically higher than on other loans, such as personal loans. Payday loans are often seen as borrowing with a high-risk level.

You may be able to get a lower interest rate if you have good credit:

You can qualify for a lower interest rate on your payday loan if you have good credit. Lenders see you as a lower-risk borrower.

You may be able to get a more extended repayment period if you have good credit:

A longer repayment period for your payday loan is possible if you have good credit. It provides you more time to repay the amount, keeping you from defaulting.

What Do I Need to Apply for an Idaho Payday Loan?

To apply for a payday loan in Idaho, you will need to provide the following information:

  • Bank account: You must provide your active bank account information so the lender can deposit the loan amount.
  • Social security number: Borrowers should submit their social security numbers so the lender can run a credit check on them.
  • Employment information: Lenders will require your employment information to verify your source of income.
  • Driver’s license: You will need to provide your driver’s license so the lender can verify your identity.
  • Email address: The lender will use this email address for communication.
  • Phone number: You will need to provide your phone number so the lender can contact you for an update on the loan status.

How Can I Avoid These Dangers?

There are a few things you can do to avoid the dangers of payday loans in Idaho:

Shop around for the best interest rates:

When looking for a payday loan, shop for the best interest rates. There are many lenders out there, and each one offers different rates. It will help if you compare rates from multiple lenders before choosing one.

Choose a lender with flexible repayment options:

When looking for a payday loan, choose a lender that offers flexible repayment options. This way, if you can’t repay the loan on time, you will have some flexibility in how to repay it.

Read the fine print:

Make sure to read the fine print before taking out a payday loan. This way, you will know what you agree to and the loan terms.

Can a Payday Loan Affect My Credit Score?

Payday loans in Idaho generally are not reported to the three major national credit reporting agencies — Equifax, Experian, and TransUnion.

However, some lenders may report payday loan information to specialty credit reporting agencies, impacting your credit score.

To avoid this, ensure that you repay your signature loans early enough. This will also help you to avoid late payment penalties that a lender may impose on you.

How Fast Can I Get a Payday Loan in Idaho?

In most cases, you can get a payday loan in Idaho within 24 hours. All you need to do is provide the required information and meet the lender’s requirements.

Once approved for the loan, the lender will deposit the money into your bank account within 24 hours.

What Happens if I Can’t Repay My Payday Loan?

If you can’t repay your payday loan in Idaho, the lender may report the delinquency to the credit bureaus. It damages your credit score and makes it harder for you to get a loan in the future.

The lender may also pursue legal action against you to recover the money you owe.

How Many Payday Loans Are Allowed in Idaho?

In Idaho, you can have up to two outstanding payday loans at any time.

However, if you have one payday loan and default on it, you will only be able to take out another one once the first loan is repaid in full.

We also do installment loans.

You will have a better experience with a GreenDayOnline online installment loan than a payday advance loan.

You can choose the number of installments required to repay the loan.

Idaho residents can pay in 12 monthly installments, 26 biweekly installments, 24 semi-monthly installments, or 52 weekly installments. When deciding on payment arrangements, be sure they reflect your financial ability to pay.

Conclusion

Payday loans can be a helpful way to get financial assistance in a short amount of time. However, there are a few dangers associated with them.

Shop around for the best interest rates, choose a lender with flexible repayment options, and read the fine print before taking out a loan.

Payday loans can affect your credit score if you default on them.

Finally, remember that you can only have two outstanding payday loans in Idaho at any time.

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Jason Rathman