Payday loans in Troy, MI
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Troy, MI.
The median household in Troy earns $120,045 a year, 65% above the Michigan median of $72,875. About 5% of residents live below the federal poverty line, and 26.7% of households rent their home. When an unexpected bill hits before payday, Troy residents can request $100 to $1,000 online in minutes.
Michigan law that applies in Troy
| Maximum loan | A licensee may make one payday loan to you for any amount up to $600 (fees not included). |
|---|---|
| Fee cap | The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100 - $76 on a $600 loan - plus any allowed database verification fee. |
| Rollovers | A lender may not renew a payday loan. |
| Loans at once | You may have only one open payday loan with a given lender and no more than two open payday loans in total. |
| Payment plan | If you take 8 payday loans from any lender(s) in a 12-month period, you can ask (within 30 days after the due date) to repay the eighth and later loans in 3 equal installments due on your next 3 paydays. |
Full rules with statute citations: Payday Loans in Michigan. Cities in Michigan cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a payday loan in Troy
Most Troy applicants can finish in one sitting if they have these ready:
- Be 18 or older (19 in some states) and a US resident
- A government-issued photo ID
- A steady source of income — a job, benefits or self-employment
- An active checking account in your name for the deposit
- A working phone number and email address
Popular loan amounts in Troy
What Troy borrowers use it for
gifts and travel without maxing a card
Emergencieshandle the unexpected the same week
Medical billspay a doctor, dentist or pharmacy bill now
Need money nowthe fastest options online
Loans for your situation
How to get a payday loan in Troy
- Pick an amount and fill out the short form (about 3 minutes).
- We share your request with lenders in our network that serve Michigan.
- If a lender approves you, you'll see the fee, APR and due date before you sign.
- Funds are deposited to your bank account, often the next business day.
Estimate your cost
How much will I repay?
Michigan does not set a single per-$100 fee cap for this product; check the lender's disclosure. $15 per $100 is shown as an example.
Estimate only. Your lender shows your exact cost before you sign.
Banks and credit unions in the area
Banks with branches in Troy
25 FDIC-insured bank branches from 14 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Flagstar Bank, National Association | 3 | 5151 Corporate Dr, Troy 48098 |
| Fifth Third Bank, National Association | 3 | 4999 Crooks Rd, Troy 48098 |
| JPMorgan Chase Bank, National Association | 3 | 2155 W Big Beaver Rd, Troy 48084 |
| Bank of America, National Association | 3 | 2699 W Big Beaver Rd, Troy 48084 |
| Citizens Bank, National Association | 3 | 125 Stephenson Hwy, Troy 48083 |
| PNC Bank, National Association | 2 | 725 E Big Beaver Rd, Troy 48083 |
| Independent Bank | 1 | 201 W Big Beaver Rd, Troy 48084 |
| The Huntington National Bank | 1 | 791 W Big Beaver Rd, Troy 48084 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Troy
18 credit-union locations from 17 credit unions.
| Credit union | Location |
|---|---|
| Lake Michigan | 734 W Long Lake Rd, Troy 48098 |
| Genisys | 1960 E Big Beaver Rd, Troy 48083 |
| Michigan Schools And Government | 4555 Investment Dr, Troy 48098 |
| Michigan First | 2001 W Maple Rd, Troy 48084 |
| Dort Financial | 5600 Crooks Rd Ste 101, Troy 48098 |
| Community Choice | 30 E Long Lake Rd, Troy 48085 |
| Credit Union One | 6010 Rochester Rd, Troy 48085 |
| Alliance Catholic | 255 E Maple Rd, Troy 48083 |
| Cornerstone Community Financial | 2138 E Big Beaver Rd, Troy 48083 |
| Our | 6693 Rochester Rd, Troy 48085 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Oakland County · Personal Loans in Troy
Frequently asked questions
Can I get a payday loan in Troy, MI?
Payday loans (deferred presentment service transactions) are legal in Michigan from lenders licensed under the Deferred Presentment Service Transactions Act (2005 PA 244), with a $600 cap per loan, a tiered fee limit, a 31-day maximum term and a statewide database. You can request one online from Troy through our network; approval and terms are set by the lender.
How much can I borrow with a payday loan in Troy?
A licensee may make one payday loan to you for any amount up to $600 (fees not included).
How fast can I get a payday loan in Troy?
The form takes about three minutes and many lenders decide within minutes. If you're approved and sign before the lender's cutoff, funds are often deposited the next business day.
How much does a payday loan cost in Troy?
The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100 - $76 on a $600 loan - plus any allowed database… Your lender shows the exact fee, total amount to repay, due date and APR before you sign, so you know the full cost upfront. There's no charge to use our form, and you're never obligated to accept an offer. Compare what lenders offer Troy borrowers in about 3 minutes.
What is a payday loan in Troy?
A payday loan is a small, short-term loan, usually a few hundred dollars, that you repay in one payment on or around your next payday. Borrowers in Troy can request one online from home instead of visiting a storefront. Through our free form you can be matched with lenders in our network, with amounts depending on the lender and Michigan rules. See if you qualify in about 3 minutes.
How do payday loans work in Troy?
You fill out a short online request, a lender reviews your income and banking details, and if you're approved you see the amount, fee and due date before you sign. Funds are typically deposited into your checking account, often by the next business day. On your due date, repayment is usually taken from that same account. Troy residents can start the process online in about 3 minutes.
Where can I get a payday loan in Troy?
You can visit a storefront in Troy or request a loan online without leaving home. Our free form sends one request to multiple lenders in our network, so you don't have to apply store by store. If a lender makes you an offer, you review the terms and decide whether to accept, with no obligation. It takes about 3 minutes to see if you qualify.
Do payday loans show up on your credit report?
Many payday lenders do not report regular, on-time payments to the three major credit bureaus, so the loan often doesn't appear on a standard credit report. Some lenders and specialty bureaus do track short-term loans, and an unpaid balance sent to collections can be reported. Your lender explains its reporting policy in the loan agreement. Ready to compare offers in Troy? Our form takes about 3 minutes.
Do I need to visit a store in Troy?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.