Check Your Rates To Find The Best Payday Loans in Rhode Island

$ 500 Your loan + $ 22 Your fee = $ 522 Total Cost*
* Total Cost - The sum of money you are to pay off within the term you’ve chosen if you borrow the stated above amount for the average (or required by your lender) APR.

How online Payday Loans in Rhode Island work?

If you're really hurting for money and need immediate funding, you can definitely get one applying for a Payday Loan online. Its amounts range from $100 to $1000 which seems enough for most emergency situations such as paying utility bills, repairing a car, home improvement, etc. A payday cash advance is a short-term credit, so you're expected to repay it within a month or sooner, usually as you get the next paycheck. Due to quick repayment Payday loans go with rather high interest rates, about 400% APR. But this number is calculated on a yearly basis and shouldn't frighten you. If you pay off the loan on time, it's not going to be that costly.

The population of Rhode Island in 2020 counting up to 1,061,712 people. More than 15% of employed adults in Rhode Island apply at least once a year for $500 Payday Loans. And as the time shows, more than 79,628 people, even with bad FICO credit score get approved for small-dollar loan.

Personal installment loans are used by more than 47% of occupied population. It's obout 249,502 people.

Personal Loans such as mortgages, credit cards, auto loans and rents are borrowed by 83% of adult (from 18 to 65 years of age) residents of the state - it's 440,610 lending service users.

Our service cooperates with verified and reliable direct lenders. We send your application to them, and within a minute you’ll get a response from the best match. It’s quick and safe as all the data are ciphered.

In 2019-2020 "Payday loans in Rhode Island" gathered more than 500,000 hits on web search every month.

How Rhode Island Laws regulate the rates and terms of Payday Loans?

According to R.I. Stat. Ann. 19-14.4-1 et seq. Payday Loans are legal in Rhode Island. The amount mustn’t exceed $500 and is given minimum for 13 days. The maximum term is not defined. The APR should be no more than 260% and the interest rate is 10% of the funds, it means you’ll be charged $10 extra for each $100 borrowed. Three Payday Loans can be borrowed a year with only one possible rollover.

Rhode Island takes care of the state's residents and protects them from unaffordable credit or predatory lenders by imposing certain rules on short-term cash advance. According to Rhode Island legislation all legal businesses must provide Payday Loans at the following terms:

Legal Status Legal
MAX Loan Amount $500
MIN Loan Amount $100
MIN APR 200%
Repayment Terms not shorter than 13 days
Turnaround Time 1 business day

If you have any complaints, contact Rhode Island Department of Business Regulation, 1511 Pontiac Ave, Cranston, RI 02920, (401) 462-9500.

Do I qualify for Online Payday Loans in Rhode Island?

Being approved for a Payday Loan in Rhode Island is usually quite easy and in most cases guaranteed by a lender if you meet a few simple requirements:

  • you are Rhode Island resident;
  • you are of the legal age stated by Rhode Island;
  • you're permanently working;
  • you get stable monthly income;
  • you have a banking account,
  • you can verify your information with e-mail or phone number.

You can always pre-qualify for the necessary loan amount in Rhode Island online for free and check if you are eligible and what rates you can expect. We will send your request to 300+  legit Rhode Island Direct Lenders - it's much faster than applying individually to each one. And it's not going to affect your credit score as most companies don't do a hard inquiry.

Do Rhode Island Payday lenders guarantee approval to Bad Credit borrowers?

Rhode Island Payday Loans are definitely the right choice if your credit score is far from perfect. Not many residents of the state can boast of the FICO score higher than 630. However, It doesn't mean they can't get approved or the necessary cash advance. The majority of direct lenders operating in Rhode Island don't focus on the borrower's previous debts. It's more important for them to know that the money will be paid back. To check your ability to repay they may require a proof of income or employment. Credit check is not obligatory. 

Have a bad credit score? It's not a reason for worry. Apply now and in 99% of cases you'll get approved for instant funding.

How fast can I get a Payday Loan in Rhode Island?

The repayment terms of Rhode Island payday loans vary from a couple of weeks to a month. The turnaround time is usually the fastest possible. Same day Payday Loans are not rare. Of course, it depends on the time you submit a loan request and on your bank working hours. But as soon as you apply and your information is processed and verified the money is deposited into your account within several hours. 

Need money fast? Choose Rhode Island Payday Loans online and receive instant funding today!

Why apply for PaydayLoanLowRates in Rhode Island?

Applying for an emergency cash advance in Rhode Island on our website you get:

  • Quick Payday Loan;
  • Affordable repayment terms with an opportunity of early prepayment;
  • Approvement even to bad credit borrowers;
  • No hard credit check;
  • Chance to apply and compare a number of legit direct lenders choosing the offer with the lowest rates at your loan.

Select your city to APPLY FOR A QUICK PAYDAY LOAN IN Rhode Island