The $500 Cap and 15% Fee
Under Kansas Statutes § 16a-2-404, a single payday loan can't exceed $500, and the finance charge is capped at 15% of the loan balance — $75 on a $500 loan. That 15% figure sounds moderate, but annualized over a typical two-week term, it works out to roughly 391% APR; depending on the exact repayment period, the effective range runs from about 183% to 782% APR.
Limits on Stacking Loans
Kansas law caps a single lender at two outstanding loans to the same borrower at once, and no more than three loans can be made to any one borrower within a rolling 30-day period. These limits are meant to prevent the kind of continuous rollover cycle that drives up total cost in less-regulated states.
Where the Law Stands Today
The framework enacted in 1993 and amended in 2004 remains the governing law in Kansas as of 2026, with no recent changes to the $500 cap or 15% fee structure. It's regulated and enforced by the Kansas Office of the State Bank Commissioner.
| Factor | Kansas Rule |
|---|---|
| Maximum loan amount | $500 |
| Fee cap | 15% of loan balance |
| Outstanding loans per lender | Capped at 2 |
| Loans per 30-day period | Capped at 3 |
Because the 15% fee annualizes very differently depending on your actual repayment period, calculating the real dollar cost of a Kansas payday loan before signing matters more than comparing the advertised fee percentage alone.
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