State Of Oklahoma Payday Loan laws

By Shawn Martin


Oklahoma State Flag
Oklahoma State Flag

The state of Oklahoma payday loan laws are similar to many other states in regards to what they allow and do not allow.

The State has passed statues allowing the practice of payday lending. You are allowed to take out a payday loan for between 12 to 45 days.

There are no limits on how many payday loans you may have at one time, which can easily lead to the possibility of the borrower ending up with more payday loan debt than they can handle.

The maximum loan amount per loan is $500.00. The interest allowed to be charged is 15% up to $300.00 and 10% on loan amounts of $300.00 to $500.00.

With fees and interest rates this high a 14 day $100.00 loan will have an APR of 390% if payed off on the first due date, but most are not.

The average roll over on a payday loan is between 4 and 5 times before the borrower retires the loan in full, and this state does not limit how many times you may roll over your payday loan.

This coupled with multiple loans can lead the borrower down the road to financial hardship, and default on multiple loans.  Welcome to the payday loan trap.

The best thing to do is avoid these companies at all costs, or if you do need to use them pay your loan off in full on the first due date.

We can help!


If you have already gotten into the payday loan trap and you need help stopping the calls and threats of legal action we can help!

Take a deep breath, then check out our payday loan repayment plan. We can help you get back on track with payday loan debt, and we can get started today!  Fill out a request for a free no obligation quote on how we can help you get some peace of mind, and take back control of your finances!

7 thoughts on “State Of Oklahoma Payday Loan laws”

  1. Hey Shawn,

    My dad was from this great state of OK, and it’s sad to know that borrowers don’t have a limit as to how many loans they can have. (Pssst, you said lenders in the post…) Oh and it’s one of the few states left in the union where you can spank your kids and not go to jail for it. lol Just a thought from this ole cowboy. Thanks for your great work, my friend.

  2. Looks like the cost can add up quick, is there a limit to how much they can require you to pay, or can the amounts just compound over and over again?

    1. That depends on the state, but in most cases many of these companies do not follow the laws and collect unbelievable amounts of money form people who just are not informed.

  3. I hope the articles do help people. Usually when a person is in a situation where they need money bad enough to use these services they rarely pay attention to the fine print. They just jump at the quickness of the cash in their hands.

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