Payday Loans in Pennsylvania

Payday Loans in Pennsylvania

Life has different stages. There are the merry moments and there are also the not-so-merry ones. When you’re down financially, and you need a rescue plan that is quick and efficient. Your best option is to apply online for a payday loan to save you from these trying and desperate times.

Getting a loan online has been made very simple for you. Just go online on your phone, tablet or computer and press a few buttons and just like that, your financial problem is solved. It looks like magic but it really isn’t. You don’t have to worry about the long and tiring queues ever again. That trauma has met its tragic end. Why go through so much stress when you can obtain your loan in a couple of minutes while relaxing as well?

Now, you can get a Pennsylvania payday loan online at any time of the day from any part of the world with no hassle, provided you check all boxes of the qualifications, of course. That’s right! You don’t need to be worried about banks closing for the day. Most lending firms are available 24/7 to attend to your requests and applications.

Your best option right now is to apply online for a payday loan if you live or reside in PA.

Pennsylvania Loan Packages Available for you to Apply for

  1. Payday Loans

Online payday loans in PA are short-term loans within the range of 7 – 31 days of repayment all at once with a restricted amount accessible to borrowers from lenders online. There is a general interest rate of 10% per $100 with a restricted amount accessible to borrowers from lenders online. This particular loan can be used to sort out expenses such as urgent ones while repayment is timed to your next paycheck.

Law Status Not Permitted but available to borrowers
Minimum Loan Amount $100
Maximum Loan Amount $1,000
Minimum Loan Term 7 days
Maximum Loan Term 31 days
Maximum Annual Percentage Rates (APR)% For every $100 borrowed, the maximum APR is $9.50
Additional Fees The service charge is $1.50
Non-Sufficient Fund Fees Nil
Collateral or guarantor Neither
Number of Simultaneous Loans One
Cooling-off Period A borrower can borrow after 3 days the repayment has been made.
Rollover Not specified
Extension, repayment plan None is allowed
Default Penalties Not specified
Credit Score Requirements Available to borrowers with bad credits


  1. Installment Loan

Installment loans are longer-term unsecured loans that borrowers can pay back in monthly installments between 3 months to as long as 36 months. Its loan amount exceeds payday loans which can be used for discounted tuition fees, automotive repairs etc.

Law status Permitted
Minimum Loan Amount $1, 000.00
Maximum Loan Amount $5, 000.00
Minimum Loan Term 90 days {3 months}
Maximum Loan Term 36 months (3 years)
Minimum Annual Percentage Rates (APR%) 6.63%
Collateral or Guarantor Neither
Credit Score Requirements Available to borrowers with bad credits


  1. Personal Loans

Personal loans are lent to borrowers for their personal use such as for vacation, medical bills, repairs etc. It is repaid in installments as well but has a longer term compared to Installment loan. The repayment period can range from 90 days  and 60 months.

Law status Permitted
Minimum Loan Amount $1,000.00
Maximum Loan Amount $35,000.00
Minimum Loan Term 90 days (3 months)
Maximum Loan Term 60 months (5 years)
Minimum Annual Percentage Rates (APR%) 4.99%
Collateral or Guarantor Neither
Credit Score Requirements Available to borrowers with bad credits


The Legality of Pennsylvania Payday Loans

Your ability to apply for payday online in PA has been disabled by law. The law governing loan applications mostly restricts Offline lending firms but not online lending firms. Payday loans in PA are backed up by Civil and Financial codes of Pennsylvania state that see Pennsylvania payday loans as delayed payments until your next paycheck. The firms giving out the loan must be properly registered with the Department of Business Oversight.

Available Alternatives for Payday Loans in Pennsylvania

Due to the restriction of obtaining payday loans in PA, there are some other alternatives that you can go for. It’s dangerous to apply for payday loans online due to some uncertified firms that aren’t honest with their business of lending to help financially. For faster access to cash loans in PA, here are 7 greater alternatives for payday loans for you:

  • Look out for lending circles

A lending circle usually consists of about 5 to 15 people who can lend money to their members. The possible amount that can be borrowed ranges from $50 to about $3, 000.

  • Credit card cash advance

Compared to payday loan rates, they charge less. Although, the Annual Percentage Rate (APR%) may be higher. So, carefully check for the terms and conditions.

  • Get in touch with a credit counsellor

A good credit counsellor can help you to manage your finances, thereby leading to a faster repayment and working with you to look through alternatives with lower and easier interest rates.

  • Ask for Assistance from friends and family

Borrowing from either friends or family, or both can save you from paying high costs of interest rates on some payday loans. Remember not to take this for granted if you choose to go with this.

  • Find an extra job

A better way to ensure that you have extra cash on hand is to increase your sources of income. Getting a new gig or job will nudge your financial stability higher.

  • Look out for government funds

Search for charitable organizations sponsored by either the government or private individuals and apply for financial assistance. You might just get lucky. The only downside to this is the long-time processing and might have the application rejected.

  • Request for a loan from bank

Banks will definitely follow the laid out rules and regulations to borrowers for obtaining a loan in Pennsylvania. You must open an account with the choice of bank you want to borrow from and be prepared for the excruciation hours spent on queues and filling paper works. Make sure to have a good credit score.

How can I navigate my way through online payday loans in Pennsylvania?

You can obtain a payday loan online, PA, in 5 easy steps:

  1. Carefully check out the requirements to see if you check all the boxes.
  2. If you could check all the boxes, congratulations! Take a next step to fill out the application and send it for review and acceptance. Here, your data such as name and contact address will be asked for, as well as SSN (Social Security Number).
  3. You will receive a message that your loan has been reviewed and granted. Here you can now decide to either accept or reject the loan available.
  4. After approval, you will be credited after a couple of hours. Some payday lenders wait until business days before reviewing applications when you make your request during a holiday or on a weekend.
  5. After receiving the cash loan, you will be notified of the due date of repayment. Repayment is as easy as the loan application itself, kindly make sure you payback at the set date.

Qualifications to Gain Access to a Pennsylvania Payday Loan

You must:

  • Be of legal age, that is 18+ in Pennsylvania
  • Be a legitimate citizen of the United States of America or have a certificate to proof permanent residency.
  • Live or reside in Pennsylvania
  • You must possess an active bank account for repayment and reimbursement
  • Be employed full time
  • Own an active contact and email address

An Instance of a Payday Loan Repayment in PA

How much would a borrower pay back after obtaining a $200 payday loan online in PA?

For a 14-day term:

Annual Percentage Rate (APR%): 410%

Loan Obtained: $200

To return: $219

APR% Calculation= $19/14 days = 1.36 * 365 days

= 496.4%


Are payday loans allowed in PA?

Unfortunately, the law in Pennsylvania doesn’t permit the lending of payday loans but it doesn’t restrict its availability. The Law protects residents of Pennsylvania from borrowing payday loans due to its very high interest rate. But, most online payday loan lending firms give reasonable and rational rates provided the borrower has a good source of livelihood to pay back on their next paycheck.

What is the easiest payday loan app in Pennsylvania?

There is a number of options. All you have to do is go online and carry out research on the payday loan options available to you. There are several application options for you, depending on your salary or income. In short, it’s due to your ability to pay back at the right time. There are two major factors you must consider in order to choose the right one for you and not fall for fraudsters.

  • Repayment: Ensure you understand and you’re comfortable with the terms of repayment. Payday loans are short-termed and you want to be certain you can repay at your chosen time.
  • Loan Amount: You have the opportunity to borrow as high as $1,000 but also have to put into consideration your income and taxes. You have to earn high to request high loan amounts. If you don’t earn a high amount on your next paycheck, you might want to bring down your choice of the loan amount.