Idaho payday loan laws overview

In recent years, more and more people are turning to payday loans in Idaho when they are in a situation, requiring financial assistance.

In Idaho, lumbering and mining have always been of great importance. Idaho is high in the ranking for lead, silver, garnet, antimony, phosphate rock, cobalt, vanadium, mercury and zinc. Agriculture is also a big industry in Idaho, with the state producing about a quarter of United States’s potato crop, along with apples, wheat,  barley, corn, hops and sugar beets. 

In the 1990s, the state had substantial growth in the high technology industries, centered in the metropolitan Boise area. The state of Idaho is the 14th biggest state in America and it’s the 39th most populous and has a population of more than 1,654,930 residents. Read all about payday loan at the main states page.

What exactly is a payday loan?

These loans are short-term loans which the borrower must pay back within their next paycheck.

Idaho laws and regulations for payday loans

Idaho payday loan laws regulations
Idaho payday loan laws regulations

Offering payday loans in Idaho is very much legal and the companies that offer loans can freely conduct their businesses according to Idaho Code Ann. § 28-46-401 et seq.

However, in Idaho, borrowers are advised to be extremely careful when you take out payday loans, since there are fewer restrictions that lending companies should follow in Idaho. According to Idaho laws for a payday loan, payday loan lending companies can give out loans for an unlimited period of time.


They are also free to charge any amount for fee and interest they deem fit. That means that annual percentage rate for a $100 loan granted for a period of 14 days can also be quite different with each different loan. It can be really high.

Borrowers are able to cancel their loan application. However, that’s only possible if they do it before the following business day after requesting the payday loan.

Idaho Payday loan lenders 

Payday loan lenders in Idaho
Payday loan lenders in Idaho

It is no secret that the lending industry, payday loan lending especially, is growing very quickly. The number of lending companies in Idaho has drastically increased in the past few years and a main reason the growth is the internet. The fact that in this state, the restrictions for payday loan lending are close to none is also very attractive for lending companies.

This makes Idaho the perfect place to conduct their businesses. In almost every state in the United States, you can apply for a payday loan by visiting a lender’s real store or check one out online. In fact, searches for payday loans online from the residents of Idaho are among the most popular web searches in the state. You can also apply for a title loan in Idaho.

Why consider a payday loan in Idaho?

There are many reasons why payday loans are leading the race in the short-term loan business. Despite the risk that’s always present when dealing with such loans, they can also be quite beneficial:

  • Multiple options to choose from

Idaho payday loans
Idaho payday loans

While you can probably find a payday lender’s store near your workplace or your home, you may want to submit your application without having to leave your house and with payday loans, you can do just that. You have the option of applying from in your own home by visiting a lending company’s website online. 

  • The service is really fast

When you are in a situation that requires immediate financial assistance, you can’t really afford to wait days or weeks for your money to arrive. When requesting a payday loan, you can get hold of the money you need just hours after you have submitted your application. If you decide to apply online, it might take one business day before get your cash.

  • Cancel with no penalties

In Idaho, a person can cancel the payday loan at the following business day once they’ve applied for your loan. You will need to give the amount you took, but there are no fees for you to pay.

  • Bad credit is not a problem

Bad credit is not a problem
Bad credit is not a problem

Normally, having a poor credit can mess up your chances of getting a loan and you can easily apply to get a payday loan and may be approved even if your credit score is bad is, without a doubt, one of the main reasons why payday loans are so popular. They help to solve pressing financial issues for many borrowers when every other institution have rejected their loan applications. 

  • Spend the money in whichever way you want to

Unlike with loans from most traditional banks, given that you don’t do illegal things with a payday loan, you can decide to do what you want with the cash. You can use the sum to pay your bills, settle your car repair payment, among others. 

Idaho Payday loans fees and charges

Before you decide whether you should or shouldn’t apply for these loans in Idaho, it is best that you know exactly what you are getting yourself into.

  • APR


Idaho payday loan laws do not have any limitations to the annual percentage rate on loans granted in the state, so you should ask the lending company what the APR is before requesting a loan.

  • Fees and charges

Lenders have the freedom to determine different fees and charges for their services, so you should always ask for all needed information before taking out a loan.

  • Rollovers

Idaho payday loan laws do not allow borrowers to get another payday loan from the same lender before they repay their previous debt.

  • Fees for paying off the loan early

When you get payday loans in Idaho, there are no penalties should you are able to repay the loan earlier.

Idaho Payday loans eligibility 

Idaho Payday loans application
Payday loans application

As mentioned above, requesting for payday loans in Idaho is very quick and simple. Although, you still have to have the following requirements when applying:

  • You need to be 18 or above
  • You need to be a permanent resident in America or a citizen of America
  • You need to must have a good flow of income

To make sure your application is successful, there’s some extra info you will have to give:

  • Your social security number, birthday, and name 
  • Phone number, address for your email and home
  • Details about your job and income

Places in Idaho where you get lenders for payday loans:

  • Boise
  • Meridian
  • Nampa
  • Idaho Falls
  • Pocatello
  • Caldwell
  • Coeur d’Alene
  • Twin Falls
  • Lewiston
  • Post Falls