Montana Payday Loan Laws Details
The data provided here is for general informational purposes and should not be used as legal reference. If you have questions regarding Montana payday loan laws contact the Montana Division of Banking & Financial Institutions.
Payday loans are legal (low cost) in Montana (see Montana Payday Loans or Montana Installment Loans to compare fees and requirements for individual lenders).
| Feature | Specification |
|---|---|
| Amount (max) | $300 |
| Rates or Fees (max) | 36% APR |
| Term Limitations | Max: 31 days |
Montana regulations mention nothing about rollovers. Nothing is mentioned about cooling periods between loans. Montana has no requirements for extended repayment plans.
For example, in Montana the rates and fees on a 14 day, $100 loan are:
| Terms | Amount |
|---|---|
| Loan Amount | $100 |
| Fees | $1.39 |
| APR |
A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36 percent per annum, exclusive of the insufficient funds fees.