Rates and Terms
Net Pay Advance offers personal loans in several states. Read about the rates and terms in your state below.
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California Rates & Terms
The maximum loan amount for California residents is $255.
Payday Loans
Fees and Charges
The charges and fees to be charged on those deferred deposit transactions will depend upon the amount borrowed and loan term. An example of all charges and fees that would be charged on an one-hundred-dollar ($100) and a two-hundred-dollar ($200) deferred deposit transaction, payable in 14 days and 30 days, respectively, giving the corresponding annual percentage rate is shown below.
| ADVANCE AMOUNT (Amount Financed) |
Finance Charge (Cost of Loan) |
CHECK AMOUNT (Total of Payments) |
APR* | |
|---|---|---|---|---|
| LOAN TERM (14 Days) |
LOAN TERM (30 Days) |
|||
| $100.00 | $17.65 | $117.65 | 460.16% | 214.74% |
| $200.00 | $35.30 | $235.30 | 460.16% | 214.74% |
Loan Lengths
Typically your loan will be due on your next payday that is 8 or more days away but no more than 31. Net Pay Advance allows customers to extend their due date up to three days from their original due date if necessary.
California Law Protects You
In California, all short-term lenders – whether a storefront or online – must be licensed by the Department of Financial Protection and Innovation if they are going to do business in the state. Visit the Department’s website to verify a lender’s license.
• A short-term lender may only make you one loan (which cannot exceed $255), and may only charge a maximum fee of 17.65% of the total amount borrowed (up to $45).
• Short-term lenders must post their California license and a fee schedule at every location.
• A short-term lender cannot make you a new loan to pay off an existing loan.
• A short-term lender cannot make you a new loan while an existing loan is outstanding, even if the combined balance of the existing loan and the new loan does not exceed $300.
• If your check bounces, the short-term lender may charge only one bounced check fee(up to $15). (Be aware! –your bank may charge you additional fees for insufficient funds.)
• Additional fees cannot be charged if you request an extension of time or payment plan. However, the short-term lender is not legally required to grant your request.
• By law, the contract for a short-term loan must be provided to you in the language you primarily used to negotiate with the lender.
• A short-term lender cannot threaten to prosecute you in criminal court for insufficient funds.
You may also have other legal protection under California law. For additional information, please contact the Department of Financial of Protection and Innovation.
Governing Law for California
The loan agreement is governed by applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active duty military personnel and their dependents which carry an APR above 36%.
Net Pay Advance cannot use the criminal process against a consumer to collect on any deferred deposit transaction. California law only allows each consumer to have one loan with Net Pay Advance at a time.
Texas Rates & Terms
The maximum loan amount for Texas residents is $1200.
Payday Loans
Fees and Charges
The loan fee will be $28 per $100 borrowed; in addition to the finance fee, a 10% interest charge will be added. A fee of $30 may be charged if an ACH payment is unsuccessful.
Schedule of Fees
An example of all fees to be charged for services performed by NPATX, LLC dba Net Pay Advance in connection with deferred presentment transactions is provided below.
Texas OCCC Consumer Disclosure (Payday):
$200 Example→
$300 Example→
$500 Example→
Consumer Credit Hotline
This business is licensed and examined by the State of Texas – Office of Consumer Credit Commissioner. For credit information or assistance with credit problems, contact the office of the Consumer Credit Commissioner at 1-800-538-1579.
Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207
[email protected]→
www.occc.state.tx.us→
Credit Services Organization
NPATX, LLC dba Net Pay Advance is a state-licensed Credit Access Business in the state of Texas. We partner with direct lender(s) to facilitate safe and secure loans for our customers. NPATX, LLC dba Net Pay Advance will provide all services relating to the loan. Please contact us directly if you have any questions or concerns.
Texas CSO Registration Certificate→
Texas CAB License→
Governing Law for Texas
The loan agreement is governed by applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active duty military personnel and their dependents which carry an APR above 36%.
Installment Loans
Fees and Charges
An annual interest rate of 10% on outstanding principal balances will be charged, as well as a CAB fee that is calculated based on the initial principal of the loan. A late fee of $7.50 may be assessed if the payment arrives more than 10 days late. A fee of $30 may be charged if an ACH payment is unsuccessful.
Schedule of Fees
An example of all fees to be charged for services performed by NPATX, LLC dba Net Pay Advance in connection with deferred presentment transactions is provided below.
Texas OCCC Consumer Disclosure (Installment):
$300 Example→
$400 Example→
$500 Example→
Consumer Credit Hotline
This business is licensed and examined by the State of Texas – Office of Consumer Credit Commissioner. For credit information or assistance with credit problems, contact the office of the Consumer Credit Commissioner at 1-800-538-1579.
Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207
[email protected]→
www.occc.state.tx.us→
Credit Services Organization
NPATX, LLC dba Net Pay Advance is a state-licensed Credit Access Business in the state of Texas. We partner with direct lender(s) to facilitate safe and secure loans for our customers. NPATX, LLC dba Net Pay Advance will provide all services relating to the loan. Please contact us directly if you have any questions or concerns.
Governing Law for Texas
The loan agreement is governed by applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active duty military personnel and their dependents which carry an APR above 36%.
An advance of money obtained through a payday loan is not intended to meet long-term financial needs. A payday loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.
Kansas Rates & Terms
The maximum loan amount for Kansas residents is $3,000.
Payday Loans
Fees and Charges
The loan fee will be $15 per $100 borrowed. A fee of $15 may be charged if an ACH payment is unsuccessful.
Loan Lengths
Typically your loan will be due on the next payday that is 7 or more days away but no more than 30.
Governing Law for Kansas
The loan agreement is governed by applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active duty military personnel and their dependents which carry an APR above 36%.
Line of Credit
Fees and Charges
The finance charge for a line of credit loan is calculated based upon the sum of the amount of the actual daily balance during the billing cycle, divided by the number of days in the billing cycle. We will assess interest for each periodic billing cycle on your account by applying a daily periodic rate of 0.986301 to the average daily balance of your account for that billing cycle. This corresponds to an Annual Percentage Rate (APR) of 360.00%.
A minimum payment of 2.00% of the outstanding principle plus any past due amount, applicable interest, and fees will be due at the end of each billing cycle. A late fee of up to $10 may be charged on past due amounts. There is no penalty for early payoff.
Loan Lengths
The term of the loan is open-ended. As the loan is repaid a corresponding amount of credit will be made available. Line of credit payments will typically be scheduled around your paydays; either bi-weekly, bi-monthly, or monthly.
Governing Law for Kansas
The loan agreement is governed by applicable state and federal laws and regulations.
Loans to Military Members and Their Dependents
Federal law prohibits lenders from making loans to active duty military personnel and their dependents which carry an APR above 36%.
NPAKS, LLC dba Net Pay Advance is a supervised lender licensed by the State Banking Commission of Kansas.
What is a single-pay payday loan?
A single-pay payday loan is a short-term personal loan that’s designed to be repaid in a single lump-sum payment. It may also be called a cash advance or traditional payday loan. The loan amounts are usually less than $500 to be used to cover a short-term financial need. This kind of loan is usually repaid when the borrower receives their next paycheck.
What is a multi-pay payday loan?
A multi-pay payday loan is designed to be repaid over multiple payments. Our installment loan and line of credit are both examples of a multi-pay payday loan. These loans may be for a couple hundred to a couple thousand dollars. With an installment loan, a borrower repays the loan in smaller payments per a defined repayment schedule. A line of credit is repaid in variable amounts. It works like a credit card where you can borrow and repay your balance.
Alternatives to taking out a payday loan
If you need to cover an emergency or essential expense, you may be considering a payday loan. Before taking out a loan, it is helpful to be aware of all your options. Here are some things to consider before taking out a payday loan.
Get financial counseling. You can find non-profit organizations who provide free financial counseling. For more information, see nfcc.org.
Borrow from family or friends. Peer lending can be complicated. However, it may be worth asking friends or family to borrow before taking out a loan.
Use a credit card. It’s not ideal to take out several credit cards at once. But if you have access to a card, it may have a lower APR.
Work a side hustle. There are a few jobs that will pay you the same day you work. Others find quick cash by selling their used items.
Best practices for payday loans
When deciding to take out a payday loan, there are several best practices. These practices are designed to help customers stay out of a cycle of borrowing. For a successful payday loan experience, the following are recommended:
- Borrow only what you need.
- Take out a payday loan only for emergency expenses.
- Call your lender if you are having problems repaying.
If you have repayment problems
If you have problems repaying on time, the best thing you can do is call your lender. We are here to help you and we have options to assist with repayment. However, it is difficult to assist our customers without communication. Our team is available and ready to help through call, text, email, and chat. Contact us, today.
We want to establish a repayment schedule that will work for you.
How to get a repayment plan set up
We know our customers need help sometimes. That’s why we make setting up a repayment plan simple. If you need more time to repay your loan, here are the 3 ways you can set up a plan.
Call our support team.Our specialists can help set up the right plan for you.
Online through your account. Login and follow the prompts to set up a payment plan that works with your schedule.
Follow the EZ payment link from NPA emails and SMS. You can set up a payment plan without logging into your account.
Good-sense financial tips
Avoid future money problems
Along with following best practices for payday loans, it is important to have other financial skills. Here are some ways you can help improve your financial situation.
Create a weekly budget with income and expenses
Prioritize and repay your debts
Build up a rainy day fund for emergencies
How to spot a legit loan lender
It is important to work with legitimate lenders. Illegitimate lenders may compromise your information. This can lead to scams and fraud. In order to avoid fraud, you need to ensure that a company is legitimate. Here are a few ways you can tell if you should work with a lender.
Lender has links to licenses available
Website shows phone number or support available
Website has validating trust factors
This information is provided for educational purposes only and should not be construed as financial or legal advice. Please consult a lawyer or financial advisor if you need these services.