Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, payday loans are often facilitated by Credit Access Businesses (CABs). Killeen has specific local ordinances designed to protect borrowers. This includes limiting the loan amount to no more than 20% of your gross monthly income. While Texas does not have a state-level interest rate cap for CABs, local ordinances in Killeen require lenders to provide certain disclosures and limit the number of times a loan can be refinanced. Most lenders charge a combination of interest (often capped at 10%) and significant CAB fees, which can result in high triple-digit APRs. Always borrow responsibly and only for short-term needs.
Annual Percentage Rate (APR)
200% - 650%
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $300 | 14 Days | 460% | $52.90 | $352.90 |
| $500 | 14 Days | 465% | $89.18 | $589.18 |
| $1,000 | 30 Days | 390% | $320.55 | $1,320.55 |
REPRESENTATIVE EXAMPLE: A $500 loan for 14 days with a total finance charge of $89.18 would have an APR of approximately 465%. Total repayment would be $589.18. Rates vary by lender, loan amount, and term.
State-Specific Information — Texas
Maximum Loan Amount: 20% of gross monthly income per Killeen city ordinance.
Rate Cap: No state cap (CAB fees apply), but Killeen ordinance limits terms.
Regulations: Texas Finance Code Chapter 393; Killeen City Ordinance No. 14-048.
Licensing: All lenders in our network must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).