New York is a state in the Mid-Atlantic and Northeastern regions of the United States. New York is a major agricultural producer, ranking among the top five states for agricultural products. Payday lending is not legal in the state of New York. But still payday loans are available in New York as Interest rates may be called fees to get around the usury laws. There are many lenders who offer New York Payday Loans from out of state to the residents of New York. Hence if you are a resident of New York and need a payday loan then don’t worry as there are many lenders who are waiting to provide payday loans to you.

In New York there are a plenty of payday loan online providers. The limits on the service fees for payday loans are based on the amount of the loan. The payday lender may charge up to 15% on the first $100, 14% on the second $100, 13% on the third $100, 12% on the fourth $100, and 11% on the fifth and sixth $100.

A staff report released by the Federal Reserve Bank of New York concluded that payday loans should not be categorized as "predatory" since they may improve household welfare. Predatory lending is defined as "a welfare reducing provision of credit."