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States Oklahoma Payday Loans

Payday Loans in Oklahoma

Page last reviewed: October 28, 2026 · Reviewed for accuracy by Peter Kizza

Traditional payday loans ended in Oklahoma on August 1, 2020. What you can get now is a small loan of up to $1,824.60 across all lenders, repaid in equal payments over 60 days to 12 months at no more than 17% interest a month.

Check Your Options
Borrow Up to $1,824.60 owed across all small lenders at once
Term 60 days to 12 months, in substantially equal payments
Example $500 over 6 months: $139.31 a month at the 17% cap
Income test Payments due in a month can't top 20% of gross monthly income
You need ID, a bank account and proof of income the lender keeps on file
See Costs The $1,824.60 Limit

LendUp isn't a lender. We pass your request to lenders in our network; offers aren't guaranteed, and we may earn compensation if a loan is funded.

What 17% a Month Costs on $300 to $1,800

Monthly rate
17%
on the unpaid balance
APR
~204%
17% × 12 months
$1,000, 12 mo
$200.47
a month
Interest
$1,406
over the 12 months
LoanPaymentsInterest
$300, 2 mo2 × $189.25$78.50
$500, 6 mo6 × $139.31$335.86
$1,000, 12 mo12 × $200.47$1,405.64
$1,800, 12 mo12 × $360.84$2,530.08

Worked out from Oklahoma law at the 17% monthly cap, not offers from lenders in our network; a lender can charge less.

A returned payment can add $25, and sending a defaulted account to an attorney, a fee of up to 15% of what you owe. Need more than $1,824.60? See Oklahoma installment loan options.

The $1,824.60 Ceiling and the 20% Income Test

  • All lenders combined. Your small loan balances across every licensee can't exceed $1,824.60. The limit started at $1,500 and is adjusted every other year; it was $1,718.25 from July 1, 2023.
  • 20% of gross monthly income. A lender can't make a small loan if your payments due in a month would exceed 20% of your gross monthly income, and it must document that income. The $139.31 payment on $500 over six months needs at least $696.55 a month.
  • A database check. Lenders verify your balances in a database ODCC approved, run by Veritec Solutions. The provider can charge the lender up to $2.20 for each 30 days a balance is scheduled to be outstanding.

From Deferred Deposit to Small Loan: The 2020 Switch

Oklahoma's old payday product, the deferred deposit loan, stopped on August 1, 2020: no new one could be made after that date, and every Deferred Deposit Lending Act license expired. ODCC says loans under the new Oklahoma Small Lender license began that date too.

The new loans are unsecured, paid off in installments instead of one lump sum, and can be prepaid at any time without penalty. ODCC's fiscal 2024 report counted 123 licensed Oklahoma Small Lender offices.

Cancel, Prepay or Stop Debits on a Small Loan

  • Cancel. Every small loan must include a right to cancel. The law ties it to the close of business on the day after the money is paid out, or the lender's next open day; check the deadline in your agreement.
  • Prepay. Pay off all or part of the balance at any time with no penalty.
  • Control debits. Automatic payments need your written authorization and a written notice before the first transfer. After a second failed attempt for insufficient funds, the lender needs your written approval again.
  • Oklahoma law applies. A small loan can't name another state's law, courts or venue; such a clause is void.
  • Help after default. If you default, you can ask the lender for ODCC's list of approved credit counseling organizations.

Requesting an Oklahoma Small Loan in Three Steps

  1. Add up what you already owe on small loans: the new loan must keep your total at $1,824.60 or less.
  2. Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
  3. Have proof of income ready. The lender must document it and check that your payments due in a month stay within 20% of your gross monthly income.
Check Your Options

Look for the Lender on the Small Lender Roster

Official lookup tool ODCC Oklahoma Small Lender roster
  1. Open ODCC's roster of licensed Oklahoma Small Lenders; the October 22, 2026 list has 103.
  2. Search for the company's legal name, usually shown in the website footer.
  3. Check that the location and license details match your offer.

Each small loan must tell you that complaints can go to ODCC, with its phone number and address. Call 405-521-3653 or 800-448-4904 toll-free.

Common Questions

Are payday loans legal in Oklahoma?

Not since August 1, 2020, when new deferred deposit loans ended. Licensed lenders now make small loans of up to $1,824.60, repaid over 60 days to 12 months at up to 17% interest a month.

How much does a $500 small loan cost in Oklahoma?

At the 17% monthly cap over six months, about $139.31 a month, or $335.86 in interest. A lender can charge less.

Can I get a $400 loan in Oklahoma?

You can request one. A $400 small loan repaid over 60 days at the cap is about $252.33 a month, and it has to fit within the $1,824.60 total and the 20% income test.

Can I cancel an Oklahoma small loan?

Yes. Every small loan includes a right to cancel, tied to the close of business on the day after the money is paid out, or the lender's next open day. Check the deadline in your agreement.

Do online small lenders need an Oklahoma license?

Yes. Anyone who induces you, while you're in Oklahoma, to take a small loan by phone or internet is in the business of making small loans and needs an Oklahoma Small Lender license.

Official Sources

General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.

← Oklahoma loan rules