Payday Loans Idaho

Access swift funds in the Gem State with zaving's user-friendly online application process for payday loans in Idaho.

Last updated by Zaving Editorial Team, on April 17th, 2024

Seeking payday loans in Idaho? Explore zaving's user-friendly online platform for a straightforward application process. Access quick funds and navigate your financial challenges with ease. Get started today!

What are payday loans and can I get them in Idaho?

Payday loans are short-term loans designed to provide quick access to funds for individuals facing immediate financial needs. In Idaho, payday loans are widely available and can be obtained from various storefront lenders and online platforms.

These loans are typically accessible to individuals who meet certain eligibility requirements, including:

  • Age: Applicants must be at least 18 years old.
  • Income: Proof of a steady income source, such as employment or benefits, is required.
  • Residency: Applicants must be U.S. citizens or permanent residents living in Idaho.
  • Identification: A valid government-issued ID is necessary for identity verification.
  • Bank account: An active checking account is often required for loan disbursement and repayment.

While payday loans offer convenience and quick access to cash, they come with high fees and interest rates. To avoid falling into a cycle of debt, it's crucial for borrowers to carefully read and understand the terms and conditions of the loan and ensure they can repay the loan on time to avoid additional charges and financial difficulties.

What are the rules for payday loans in Idaho?

Idaho has more relaxed rules for payday loans than many other states, though a regulatory framework still exists.

The rules for payday loans in Idaho include:

  • Maximum loan amount: $1,000 or 25% of the borrower's gross monthly income
  • Loan term: Not specified
  • Maximum finance rate and fees: No limit; as a result, Idaho has one of the highest average APRs in the US at more than 600%
  • Rollovers permitted: Up to three consecutive times
  • Cooling-off period: No specific requirement; borrowers can enter into a new loan transaction at any time after completing a prior loan.

Before taking out a payday loan, potential borrowers in Idaho should familiarise themselves with the terms and conditions, paying close attention to the APR and potential finance charges, which are uncapped in the state. This can help prevent them from getting trapped in a cycle of debt.

What are the pros and cons of payday loans in Idaho?

In Idaho, payday loans come with both advantages and disadvantages. Here are some of the pros and cons:


  •  Accessibility: Payday loans offer quick access to funds, making them suitable for individuals facing immediate financial needs.

  • Flexibility: Borrowers can use payday loans for various purposes, including emergencies, bills, or unexpected expenses.

  •  Minimal requirements: Payday lenders typically have lenient eligibility criteria, focusing more on income than credit history, making them accessible to a wide range of borrowers.

  • Convenience: Payday loans are available from numerous lenders, including storefronts and online platforms, providing convenience and accessibility to borrowers.


  • High costs: Idaho's lack of limits on finance charges results in extremely high annual percentage rates (APRs), often exceeding 600%, making payday loans one of the most expensive forms of borrowing.

  • Short repayment terms: Though the state doesn't specify a maximum, lenders often impose short repayment periods, putting strain on borrowers' budgets and increasing the risk of rollovers.

  • Risk of debt trap: The combination of high costs and short repayment terms increases the risk of borrowers getting trapped in a cycle of debt, where they continuously borrow to cover previous loans, leading to a worsening financial situation.

  • Limited consumer protections: Idaho's regulatory framework provides minimal protections for borrowers, leaving them vulnerable to predatory lending practices and unfair terms.

More of your frequently asked questions about payday loans in Idaho

Can I take out multiple payday loans in Idaho?

In Idaho, while there's no specific limit on the number of payday loans a borrower can take out simultaneously, state law sets constraints on the total principal balance owed by a single borrower at any given time. According to Idaho law, no lender or associated entity may offer loans above $1,000 to a borrower. This regulation aims to prevent borrowers from accumulating excessive debt from multiple payday loans, thereby safeguarding them from potential financial strain.

What happens if I can't repay my payday loan in Idaho?

If you're unable to repay your payday loan in Idaho, it's crucial to contact your lender immediately. By law, payday lenders in Idaho are required to offer a no-cost extended payment plan to borrowers who are unable to repay their loans on time, allowing for four equal payments over a 60-day period, available once per 12 months. Additionally, if your check is returned unpaid to the lender, the lender has the right to collect authorized charges disclosed in the loan agreement. However, Idaho law prohibits lenders from threatening borrowers with criminal action due to payment deficits. Effective communication with your lender is essential in exploring repayment options and potentially setting up an extended payment plan to prevent further financial challenges.

Can I get a payday loan in Idaho with bad credit?

Yes, individuals in Idaho can typically obtain a payday loan even with bad credit. Payday lenders often prioritize the borrower's income and ability to repay the loan rather than their credit score. As long as you can demonstrate a steady source of income, you may qualify for a payday loan, even with bad credit. However, it's crucial to be mindful of the high costs associated with payday loans, including high-interest rates and fees, which can exacerbate financial challenges for borrowers with bad credit.

What are some alternatives to payday loans in Idaho?

In Idaho, several alternatives to payday loans exist for individuals seeking financial assistance. One option is seeking assistance from local community organizations that offer short-term emergency aid programs or financial assistance for specific needs. Credit union loans are another alternative, often offering more favorable terms and lower interest rates compared to payday loans. Negotiating payment plans with creditors or exploring borrowing from friends or family members can also provide temporary relief. Additionally, non-profit credit counseling agencies in Idaho offer financial education and debt management programs to help individuals improve their financial situation and avoid resorting to payday loans.