Payday loans are legal in Nevada (Las Vegas, etc).
The maximum loan term is 35 days. The interest rates are not set, however, the loan amount can’t exceed 25% of gross monthly income. Real APR is 625%.
Payday loans 24/7 in Nevada cannot be extended for periods longer than 60 days after the initial term is due.
All payday lenders in Nevada must have a license to operate in the state.
Nevada payday loans are regulated by Nevada Stat. 604A.010 et seq. 2017 Chapter 274. Such loans are also called “deferred deposit loans” and “high–interest loans”.
NSF fee in Nevada is $25 for the first two checks.
Criminal actions against borrowers are prohibited.
How many payday loans can you have in Nevada? The state has no limit on payday loans offered.
Nevada Payday Loan Regulations:
|Minimum Loan Amount||Not Specified|
|Maximum Loan Amount||
25% of monthly gross income
|Number of Rollovers Allowed||Not Specified|
|Interest Rate (APR)||
|Minimum Loan Term||Not Specified|
|Maximum Loan Term||35 days|
|Finance Charges||No Limit|