Kansas 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 Kansas payday loan laws contact the Kansas Office of the State Bank Commissioner.
Payday loans are legal in Kansas (see Kansas Payday Loans or Kansas Installment Loans to compare fees and requirements for individual lenders).
| Feature | Specification |
|---|---|
| Amount (max) | $500 |
| Rates or Fees (max) | 15% of amount |
| Term Limitations | 7-30 days |
Kansas regulations mention nothing about rollovers. Nothing is mentioned about cooling periods between loans. Kansas has no requirements for extended repayment plans.
For example, in Kansas the rates and fees on a 14 day, $100 loan are:
| Terms | Amount |
|---|---|
| Loan Amount | $100 |
| Fees | $15 |
| APR | 390% |
Kansas also defines regulations around collections. If available, the table below lists the fees lenders are permitted to charge if the loan is not repaid and/or whether a lender can threaten use of or use criminal action if a borrower is unable to repay a loan.
| Feature | Specification |
|---|---|
| Collection Fees | One NSF fee |
| Criminal Action | Prohibited |
A licensed or supervised lender may charge an amount not to exceed 15 percent of the amount of the cash advance. The contract rate of any loan made under this section shall not be more than three percent per month of the loan proceeds after the maturity date. No insurance charges or any other charges of any nature whatsoever shall be permitted, except returned check fees, including any charges for cashing the loan proceeds if they are given in check form.