Best Payday Loan Lenders in Indiana

Payday loans became legal during the 1990s in Indiana. Since then, there have been many questionable attempts to influence the state’s legislative body, which have all failed. Nowadays, the payday loans Indiana offers are strictly regulated. We have searched far and wide to ensure only the best ones would end up on our list. Without further ado, we present to you the lenders who made the cut. Enjoy!

Best Payday Loans Providers Indiana

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check'n Go Logo

Check ‘n Go

Real solutions for real people

Check ’n go opened its doors to customers in 1994. Their first storefront was in Kentucky, and they’ve since expanded their business to over 20 states. This company offers quick payday loans, with interest rates that fall well within the industry average. With 26 years of experience and 1,000 stores across the US, you can’t go wrong with Check ‘n Go.

Available in: AL, CA, DE, FL, HI, ID, IL, IN, IA, KS, KY, ME, MI, MS, MO, NE, NV, ND, OH, OK, RI, SC, TN, TX, UT, WI, WY

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 10-35 days

APR: Depends on the loan term (214.68-661.80%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

A1 Cash Advance Logo

A1 Cash Advance

Get Money Right Now!

A1 Cash Advance is a local state-licensed lender that has been doing business in the Hoosier State since 1996. Their first-class offer encompasses both storefront cash advances and online payday loans in Indiana for bad credit. This company has been a one-stop shop for many residents in need of emergency funds.

Loan amount range: $100-$660 (in-store); $100-$605 (online)

Loan term: 7-31 days

APR: 327% to 391%                                                             

Min. credit score: N/A

Fee: 15% of the loan for loans <$250; 13% for loans $250-$400; 10% for loans $400-$500

Approval time: Almost instant

Funds available in: Same or next business day

Number of Indiana stores: 8

Online application: Yes

24/7 open: No

ACE Cash Express Logo

ACE Cash Express

Empowering your financial success since 1968

ACE Cash Express was established in 1968 making them a household name in their niche. This company offers reliable online payday loans as well as in-store loans. Speaking of which, they run over 920 stores in 13 states. School of Ace is an interesting feature on their website that aims to help you manage your finances better.

Available in: CA, FL, ID, IN, KS, LA, MN, MO, OR, SC, TN, TX, VA

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 9-35 days

APR: Depends on the loan term (231-661%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Laws Governing Indiana Payday Loans

Payday lenders in Indiana face somewhat restrictive regulations. However, the APR can still reach triple digits. Another loosely regulated aspect is the maximum loan term, which isn’t clearly defined. On the other hand, these businesses are closely monitored to prevent any foul play. The state, however, has set a maximum principal loan amount at $550.

State Law

Requirements for Indiana Payday Loans

Bad Credit Payday Loans

Payday loans in Indiana with no credit check are readily available. At the end of the day, these cash advances were designed to serve people with a below-average credit score.

Failing to Repay a Payday Loan in Indiana

Borrowers who are unable to repay the loan on time will be subject to a one-time non-sufficient funds (NSF) fee of up to $25. Lenders, meanwhile, are prohibited from making any threats or filing criminal charges.

Reviews of the Best Payday Loans Indiana Has to Offer

Advance America

Their excellent offer and outstanding availability is what sets them apart from the majority of other lenders. Advance America runs 64 storefronts in Indiana, making them the most readily accessible company. They’ve been licensed by the State of Indiana Department of Financial Institutions since 1998.

Pros

Cons

Lending Offer Overview

Advance America has been well-respected in Indiana since 1997. Their offer falls in line with the state’s standard. The loan amount starts at $50, going to $660. Fees in Indiana aren’t fixed since they depend on the loan amount. Higher amounts come with lower costs. Customers should expect to pay between 10% and 15% of the principal amount. Payday loans in Indiana come with an APR ranging from 182% to 391% that is based on both the loan term and the fees. Speaking of the loan term, it isn’t clearly defined. The minimum length is 14 days, but the upper limit technically doesn’t exist. While local regulations forbid rollovers, the loan term can be extended up to three times.  Borrowers who fail to repay their loan on time will suffer a one-time $25 NSF fee.

Other Features

Payday loans are quick and easily accessible by design, and the application process in Advance America’s storefronts reflects that. Borrowers will be able to access their funds in less than 30 minutes. If you have any questions and concerns, their fantastic customer support will be more than happy to help. This brand’s “giving back” projects further solidify their place on this list of the best payday loans Indiana provides to those in need of short-term cash. They donate to local and national charities and non-government organizations.

Check ‘n Go

Check ‘n Go is an excellent option for borrowers that want access to both in-store and online payday loans. Both options come with some ups and downs, but it basically boils down to faster access to funds versus the convenience of online payday loans Indiana has to offer. Check ‘n Go obtained their license from the State of Indiana Department of Financial Institutions in 1996.

Pros

Cons

Lending Offer Overview

Check ‘n Go is a lender with a long-standing tradition and an incredible offer to boot. You can expect only the best lending practices from this company. They have some of the best in-store cash advances as well as online payday loans Indiana can offer. Their clients can expect the following rates and terms. The value of a loan can be between $100 and $605, while the APR ranges from 331-391% for a 14-day loan. Fees depend on the advanced amount (10%-15%) — smaller cash advances come with a higher fee and vice versa. You can repay your loan in 14 to 35 days. While Indiana’s regulations ban rollovers, borrowers still have 3 loan extensions at their disposal. A one-time NSF fee might be in your future if you’re unable to repay the loan on time.

Other Features

Check ‘n Go meets all the criteria to be included on the list of the best payday loans Indiana has to offer. Borrowers who apply in one of their 19 storefronts can get a same-day deposit. Applying online certainly does have its perks as well. However, you have to wait up to 48 hours to receive your funds. The application process is simple and straightforward, regardless of the loan you choose. Customers should expect an approval decision in less than 10 minutes. Trustpilot reviews sing praise about their customer support, so don’t hesitate to reach out.

Check into Cash

Check into Cash is a state-licensed brand that does its best to uphold the best lending practices. Indiana online payday loans are available alongside in-store cash advances with this company. The vendor has been licensed by the State of Indiana Department of Financial Institutions since 1995.

Pros

Cons

Lending Offer Overview

Check into Cash is here to fulfill all of your borrowing needs with their phenomenal Indiana payday loans online and in-store. Their offer is consistent with the industry’s standard. Customers can borrow between $100 and $660 (same amount for both loan types), with an accompanying APR of 327% to 391% for a 14-day loan. Finance charges aren’t fixed in Indiana since they’re determined by the advanced amount. The fees range between 10% and 15% (smaller loans come with higher expense) of the principal amount. Borrowers will have 14 to 35 days to reimburse their debt, even though the state’s legislative system doesn’t prescribe the maximum duration of a loan. Rollovers are prohibited in Indiana. Nevertheless, Hoosiers can extend a loan up to 3 times. Keep in mind that you should repay it on time unless you wish to incur NSF fees.

Other Features

No credit check payday loans Indiana offers have never been easier to come by. Check into Cash provides easily accessible cash advances online and in their storefronts. You’ll finish the whole process in the blink of an eye. We recommend in-store loans for borrowers who need their funds right away since online applicants need to wait up to 48 hours. Check into Cash offers a smartphone app that can significantly help you manage your funds on the go. To top it all off, their customer support is amiable and helpful.

A1 Cash Advance

A1 Cash Advance is the only locally-owned lender on our list. Compared to the giants of this industry, they might be lacking in availability with only 8 storefronts in the state. However, they more than make up for that with their top-notch offer and unique Hoosier spirit. A1 Cash Advance is licensed by the State of Indiana Department of Financial Institutions.

Pros

Cons

Lending Offer Overview

If you like supporting local businesses, then A1 Cash Advance might be the perfect place for you. Their payday loans in Indiana with no credit check are available both in-store and online. The advanced amount starts at $100, increasing in $50 increments, up to $660 or $605 for storefront and online loans, respectively. Borrowers need to pay a fee that can range between 10% and 15% (based on the face value of a check) of the principal amount. These financial charges equate to an APR of 327% to 391%. You’ll have at least two weeks to repay your loan. On the other hand, Indiana payday loan laws don’t stipulate the maximum duration of a loan. However, it rarely exceeds 35 days. Rollovers are illegal in Hoosier State, yet loan extensions are still allowed. To avoid NSF fees, make sure to repay your debt on time.

Other Features

In addition to in-store loans, A1 Cash Advance provides quick access to emergency online payday loans in Indiana as well. Their services are readily available, and the application process is easy to complete. Borrowers, who apply in a storefront, will be granted almost instant access to their funds. Conversely, web applicants need to wait up to 48 hours for their online loans to become available. As if this wasn’t enough, they have an amazing 4.8/5 rating on Google.

ACE Cash Express

Outstanding offer and statewide availability is what makes this lender a cut above the rest. Their only downside is the lack of online payday loans in Indiana for bad credit  ACE Cash Express offers a 72-hour satisfaction guarantee on each of their cash advances. They have been licensed by the State of Indiana Department of Financial Institutions since 1996.

Pros

Cons

Lending Offer Overview

Undoubtedly a pioneer in this industry, ACE Cash Express has been a trusted lender in Indiana since 1996. Some of the top payday loans Indiana can provide are available in 23 storefronts statewide. They’ve refined their offer over the years, and this is what you can expect nowadays. Hoosiers can borrow between $50 and $660, while the financial charges range from 10% to 15% of the principal amount. These fees are equal to an APR of 331% to 391% for a 14-day loan. As for the duration of the loan — it goes from 14 to 31 days in most cases. Rolling a loan over is banned, although residents can extend its duration up to 3 times. A word of caution, this company charges a $25 NSF fee if you fail to repay the loan on time.

Other Features

ACE Cash Express strives to provide the most convenient service to their customers. Indiana online payday loans are unfortunately unavailable with this vendor. On the upside, in-store loans allow borrowers faster access to funds. You can get in touch with their customer support through email, by phone, or in person. ACE Cash Express offers a 72-hour satisfaction guarantee on each loan. If their clients have a change of heart during this period, they can return the principal amount without incurring additional fees.

An Insight into Payday Lending Terminology

Understanding these frequently thrown around financial terms will significantly assist you in your search for the best payday loans. We took the liberty to explain the most confusing ones.

Rollover vs. Loan Extension

Borrowers who roll over a loan need to pay additional fees — usually the same amount they were asked for initially. To exemplify, a $100 loan comes with a $15 finance charge, meaning that customers have to shoulder the fee twice if they roll over the loan. Conversely, under regulations governing the Indiana payday loans online and in-store — extending a loan doesn’t incur additional costs. It only gives you more time to repay the debt.

APR Explained

Triple-digit APRs seem outright ludicrous; however, once you take everything into perspective, it’s not that bad. You’ll need three pieces of information — the principal amount, finance charge, and loan’s duration — to calculate the interest rate of the payday loans Indiana can offer you. Let’s do this!

Now, we know most people hate math (and we sympathize, we really do), but this is simple:

  1. First, take the finance charge and divide it by the principal amount — 15/100 = 0.15.
  2. Next, multiply that number by 365 — 0.15×365 = 54.75.
  3. Almost done — take the number from the second step and divide it by the loan’s duration — 54.75/14 = 3.91.
  4. Whew! Final step — multiply the number you got in the previous step by 100, and voila — the APR is 391%.

As you can see, the APR is high because it takes the whole year into account. However, both the in-store and online payday loans Indiana offers to residents are short-term, making things much less glum than they initially seem.

FAQ

What is the standard interest rate for Indiana payday loans?

The average APR for a 14-day loan in Indiana is 382%.

How many payday loans can you have in Indiana?

Hoosiers can have up to 2 payday loans at the same time. These cash advances, however, should come from different lenders.

What percentage of people who take out payday loans in Indiana borrow again within 30 days?

A 2019 report suggests that 82% of payday loans in the state are reborrowed within 30 days of repaying the previous one.

Conclusion

These were the top payday loans Indiana has to offer. All the lenders on our list have been state-licensed for more than 20 years, ensuring credibility and adherence to the best lending practices. We hope that this article will help you find the perfect payday loan in Indiana for your short-term cash needs.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

AdvanceAmerica

ChecknGo

CheckintoCash

A1 Cash

ACE Cash Express

Indiana laws

Indiana state page

Opploans

Indiana Government

ConsumerFinanceReport

CenterForResponsibleLendingReport

StateLicenseChecker