Payday Loan Laws - RI
The rules and regulations issuers of payday loans must abide by in the state of Rhode Island.
Legal Status:
Legal
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 13 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3/$500
Rollovers Permitted: One (rollover)
Collection Limits:
N/A
Go back to Payday Loan Laws
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