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Find the Best Payday Loans in Indianapolis, IN

by Sandi Pope ConsumerAffairs Research Team

A payday loan, also called a small loan in Indiana, allows you to borrow cash right away and pay it back, with finance charges, on your next payday. We’ve researched the best payday loans in Indianapolis so you can find a lender with an easy application, competitive rates and good reviews from customers.

Top 10 Indianapolis Payday Loan Companies

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Available in 20149
Read 3,670 Reviews

Online lender offering payday loans, installment loans, and line of credit products. Can lend up to $800 with loan terms anywhere between 8 and 31 days. Borrowers apply online and receive an instant lending decision.

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Check Into Cash
Read 2,067 Reviews

Lender with 25 years in business offers payday loans up to $1,000 and title loans up to $25,000 with easy application process. Consumers can get funds the next business day. Installment loans and lines of credit also available.

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Advance America Cash Advance
Read 241 Reviews

Supplies both payday and title loans online or at over 2,000 store locations. Amounts vary by state and vehicle specifics. Max payday loans range $100-$1,100 and max title loans range $300-$10,000.

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Ace Cash Express
Read 407 Reviews

Payday loans in 8 states with max loan amounts $255-$1,500 and title loans in 7 states with max amounts $200-$5,000. Get cash instantly in-store or overnight with online applications. Offers 72-hour guarantee.

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Allied Cash Advance
Read 51 Reviews

Get payday advances in-store or with an online application in 5 states. Max loan amounts vary by state and range from $50-$1,500. Get instant access to funds in-store or next business day with online approval.

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A-1 Cash Advance Read Author Review

Offers in-store and online payday loans up to $605. Same-day cash at five Indy locations. Approves online payday loans within an hour and electronically deposits funds by next business day. No credit checks.

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Cash King Read Author Review

Provides payday advances from $50 to $605 with no finance charge on your first loan and no credit check. Approves qualified applicants in minutes and gives borrowers cash in store. Follows best-practice industry standards.

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Heights Finance Read Author Review

Offers same-day installment loans as an alternative to payday loans. Specializes in offering loans to residents with poor credit. Gives $50 to customers every time they refer a friend.

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Indy Cash Advance Read Author Review

Offers payday loans from $50 to $600. Approves nearly all applicants. Locally owned and operated since 1997. Requires Indiana’s driver’s license or identification card, Social Security card and proof of income.

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Indy Check & Loan Read Author Review

Brokers cash advance loans from lenders with APRs between 200% and 1386%. Allows customers to apply for loans up to $5,000. Offers solutions for any type of credit history.

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indianapolis payday loans skyline

As of the end of 2018, Indiana had 30 licensed small loan lenders operating a total of 296 branches, according to the Indiana Department of Financial Institutions. Consumers go to these storefront lenders, as well as online payday loan lenders, to apply for instant cash to pay for emergency and regular expenses.

Payday loans are most popular among renters, those with household income less than $40,000, the recently separated or divorced and those who have fallen behind on bills. While these loans are fast and convenient, they are also expensive and make it easy to fall into a debt trap. Consider the pros and cons before taking out a payday loan in Indianapolis, and if you do sign for one, only borrow what you can afford to repay.

Payday loan limits in Indianapolis

The Indiana Department of Financial Institutions’ Consumer Credit Division regulates payday lenders, officially called small loan lenders, in the state. These lenders must be licensed.

Payday loans in Indiana range from $50 to $605 and can’t exceed 20% of the borrower's gross monthly income. Maximum finance charges on a payday loan in Indianapolis are limited to:

  • 15% of the principal up to the first $250
  • 13% of the principal on the principal amount between $250 and $400
  • 10% of the principal on the principal amount between $400 and $605
Loan amountMaximum finance chargeAPR on a 14-day loan

Here are some other things to know about payday loans in Indiana:

  • You can make partial payments on a payday loan at any time before the due date without charge.
  • You can’t renew, repay or refinance a payday loan with the proceeds of another payday loan from the same lender.
  • If you get another payday loan within seven calendar days after paying off a previous payday loan, this is called a “consecutive small loan.” Once you enter a third, fourth or fifth consecutive small loan, the lender must offer you an extended payment plan, allowing you to pay off the outstanding loan in at least four equal installments over a period of at least 60 days.
  • Once you take out five consecutive small loans after the first payday loan, you must wait seven days after paying off the fifth consecutive small loan before taking out another payday loan from the same lender.
  • If you can’t or don’t repay a payday loan in Indianapolis, the lender can charge $25.

To finalize a payday loan in Indianapolis, you need to sign a contract with the lender. Remember, even after you sign, you have the right to cancel the loan at any time before the close of business on the next business day by paying back the advanced amount.

Indianapolis payday loan requirements

Payday loan requirements in Indianapolis differ by lender. Whether you are applying for an online payday loan or an in-store payday loan, have the following things ready:

  • Driver’s license or identification card
  • Social Security card
  • Proof of income (e.g., recent pay stub)
  • Most recent checking account statement
  • Personal check/checking account information

Even if you have bad credit, you can still qualify for a payday advance in Indianapolis. Many small loan lenders don’t even do a full credit check.

If you apply at a payday loan store in Indianapolis, you get an approval decision immediately and, after you sign a contract, walk out with cash. If you apply for a payday loan online in Indianapolis, you learn the same day (if it’s a business day) if you’re approved; then, depending on the lender, you can either pick up the funds at a store or have the money deposited electronically into your bank account. Keep in mind that electronic deposit may take up to two business days.

Indianapolis payday advance FAQ

What are some payday loan alternatives in Indianapolis?
Some payday loan alternatives in Indianapolis are borrowing from a friend or family member, getting a loan from a bank or credit union, rescheduling due dates with creditors and arranging a payday advance with your employer. For more payday loan alternatives, check out this guide.
What credit score is needed for a payday loan in Indiana?
There is no minimum credit score needed for a payday loan in Indiana. You can get a payday loan with bad credit or no credit at all as long as you meet other requirements, such as having a steady, verifiable source of income.
Can I get arrested for not paying back a payday loan in Indianapolis?
No, Indiana law prohibits small loan lenders from threatening to use or using the criminal process to collect an unpaid payday loan.

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    Indianapolis payday loan company information

    A-1 Cash Advance

    A-1 Cash Advance offers payday loans up to $605 in Indianapolis. Apply 24/7 online and get your cash electronically deposited, or visit one of its five area locations for same-day funding. Requirements include a photo ID, current bank statement and proof of income. A-1 Cash Advance has been helping customers since 1996.

    • Address: 5325 W. 10th St., Indianapolis, IN 46224; Multiple locations
    • Phone: (317) 243-9300
    • Hours: M - F: 10am - 6pm; Sat: 10am - 2pm
    • Website: a1cashadvance.com
    Indy Cash Advance

    Indy Cash Advance, locally owned and operated since 1997, provides payday loans from $50 to $600. Nearly all applicants are approved. To apply, bring your Indiana-issued ID, Social Security card, most recent pay stub, bank statement for the last 30 days and your checkbook to the store.

    • Address: 11802 E. Washington St., Ste. B, Indianapolis, IN 46229
    • Phone: (317) 898-3333
    • Hours: Call for hours
    • Website: danvance.com/indy-cash-advance.html
    Cash King

    Cash King offers payday loans from $50 to $605 at its store in Plainfield. Apply and get approved in just minutes, then get your cash immediately. Customers pay $0 in finance charges on their first loan. To qualify, you need a photo ID, Social Security card, proof of income, most recent checking account statement and a personal check. Cash King doesn’t check your credit before approving a payday loan.

    • Address: 1601 E. Main St., Plainfield, IN 46168
    • Phone: (317) 559-2274
    • Hours: M - F: 10am - 6pm; Sat: 10am - 2pm
    • Website: cashkingindiana.com
    Heights Finance

    As an alternative to payday loans, Heights Finance offers a variety of loans that can be paid in monthly installments. Loans are available for customers with poor credit, tight budgets or a history of bankruptcies. If a customer refers a friend, they receive $50, and there is no limit to referral payouts. After an application is approved, customers can pick up their money on the same day at a local office.

    • Address: 5220 E. Southport Road, Ste. I, Indianapolis, IN 46237
    • Phone: (317) 786-0274
    • Hours: Call for hours
    • Website: heightsfinance.com
    Indy Check & Loan

    Indy Check & Loan connects Indianapolis residents with nationwide payday and installment loans. APRs range from 200% to 1386% for payday loans and from 6% to 225% for installment loans. Indy Check & Loan does not do a credit check on interested customers. Customers can apply for loans from $100 to $5,000, and the specific amount and APR are determined upon approval.

    • Address: 3719 E. 38th St., Indianapolis, IN 46218
    • Phone: (317) 377-1627
    • Hours: Call for hours
    • Website: indylend.com
    by Sandi Pope ConsumerAffairs Research Team

    Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.