Payday Loans Florida

Payday loans are legal in Florida. They are officially called “deferred presentment transactions“.

In Florida, you cannot get more than $500 at a time.

APR is 304%.

The loan terms are 7-31 days.

You cannot get rollovers in Florida – so you should repay loans in time. However, the lender can offer you a repayment plan.

In Florida, a person cannot get more than one payday loan at a time.

The maximum finance charge is 10% for every $100. There is a cooling-off period of 24 hours between 2 consecutive Florida payday loans. Rollovers are not allowed. Criminal actions against borrowers are prohibited.

Payday lending in Florida is regulated by the Fl. Stat. Ann. § 560.402 et seq. and Rule 69V-560.901-912.

All payday lenders in Florida must get a license in order to provide cash advance.

A verification fee is not more than $5.

Payday loans are available both to the residents of Florida and to those who are going to move here.

The Florida law provides consumers with a 60-day grace period in case they are unable to pay off their payday loans in time.

Florida Payday Loan Regulations:

Legal Status Legal
Maximum Loan Amount
$500 exclusive of the fees
Minimum Loan Term
7 days
Maximum Loan Term
31 days
Finance Charges 10%
Number of Rollovers Allowed 0
Interest Rate (APR)
304%