Limitation of the Payday Loan Amount in Nebraska
- The amount of a payday loan in Nebraska should be no more than $500 from one lender.
APR of Payday Loans in Nebraska
The APR can’t exceed 36% as stated in the law.
How Much Does a 14-Day $100 Payday Loan Cost in Missouri?
Loan cost: $1.4
Payment Term for a Payday Loan in Nebraska
- Abide by Nebraska legislation, payday loans are allowed for less than 30 days.
- Renewals, refinance and consolidation in any form are not allowed. The loan should be fully paid within the payment term.
- Borrowers should be able to cancel the transaction before 5 p.m. of the business day following the payday loans' inception.
- lenders are not required to check a borrower’s ability to repay a loan.
- Criminal actions are prohibited even if the borrower fails to repay the loan.
Further information about payday loans in Nebraska can be found at the Nebraska Department of Banking.