Payday Loans in Texas

Payday Loans in Texas

Life has its ups and downs. When you’re financially down, you need a rescue plan as soon as possible. Your best option is to apply online for a Payday Loan to save you from the 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 no longer need to worry about the long and tiring queues. That trauma has met its 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 Texas 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 need not be bothered about the 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 TX.

Texas Loan Packages Available for You to Apply for

  1. Payday Loans

Payday loans in TX are short-term loans within the range of 14 – 180 days of repayment all at once with a restricted amount accessible to borrowers from lenders online. There is a general interest rate of 15% 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 Permitted
Minimum Loan Amount $100
Maximum Loan Amount $1,000
Minimum Loan Term 14 days
Maximum Loan Term 180 days
Maximum Annual Percentage Rates (APR)% 410%
Additional Fees It doesn’t exceed 10% of the loan obtained
Non-Sufficient Fund Fees $30
Collateral or guarantor Neither
Number of Simultaneous Loans One
Cooling-off Period No cooling-off period. A borrower can borrow immediately after repayment.
Rollover A business day after repayment
Extension, repayment plan None is allowed
Default Penalties There is a required 5% of the loan obtained.
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 duration for repayment ranges between 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


Legality of Texas Payday Loans

Your ability to apply for payday online in TX has been enabled by law. The law governs loan applications whether it is online or offline. Payday loans, TX, are backed up by Civil and Financial codes that see California Payday loans as delayed payments until your next paycheck. The lending firms must be duly registered with the Department of Business Oversight in Texas. 

Available Alternatives for Payday Loans in Texas

For faster access to cash loans in TX, here are 5 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.

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

You can obtain a Payday loan online, TX, 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! Proceed to fill out the application and send it for approval. 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. You can proceed to either accept or reject the available loan.
  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. Ensure you meet up to repay on this day. Repayment is just as simple as the application for the loan.

Qualifications to Gain Access to a Texas Payday Loan

You must:

  • Be of legal age, that is 18+ in Texas
  • A legitimate citizen of the United States of America or has proof of a certificate of permanent residence
  • Live or reside in Texas
  • Own an active bank account for reimbursement and repayment
  • Be employed full time
  • Own an active contact and email address

An instance of a Payday Loan Repayment in Texas

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

For a 14-day term:

Annual Percentage Rate (APR%): 410%

Loan Obtained: $200

To return: $220

APR% Calculation= $20/14 days = 1.43 * 365 days

= 521.95%


Can you get a payday loan in Texas?

Yes. You are permitted by the law to obtain a Payday Online Loan in Texas.

Can you go to jail for not paying back a payday loan in Texas?

Don’t fret. Refusal or being unable to repay a Payday Loan isn’t a criminal offense so you won’t serve any jail term for it but there may be summons by the Civic Courts.

How much can I get from a payday loan in Texas?

You can gain access to loan amounts from as low as $100 to as high as $1,000 in Texas.