Payday Loans Oregon

Payday loans are legal in Oregon (Salem, Portland, Albany, etc). The maximum loan amount is $50,000. The minimum loan term is 31 days; the maximum loan term is 60 days. The APR is 36%. The borrower is allowed to get 2 rollovers. Criminal actions against borrowers are prohibited.

Payday lending in Oregon is regulated by Chapter 725 and Chapter 725A.

All lenders providing no credit check loans in Oregon (both offline and online lenders) must have a license to operate in the state.

There is no limitation to a number of payday loans that a person can apply for in Oregon.

In Oregon, there is also a law about a cooling-off period: you can get another loan only 60 days after the date when you pay off the previous loan in ful.

In case of the check return due to Non-Sufficient Funds (NSF), the lender charges a fee of $20 plus other bank charges.

Oregon Payday Loan Regulations:

Legal Status Legal
Maximum Loan Amount $50,000
Minimum Loan Term 31 days
Interest Rate (APR) 154%
Maximum Loan Term 60 days
Finance Charges 36% APR
Number of Rollovers Allowed 2