Do you want to get a payday loan no matter what? There are cautions we must provide you with before you get that payday loan. We will also look at how you can get a payday loan no matter what your financial situation is. Below is a list of helpful information that you can make an educated decision from.
Payday loans will have a fee ranging from 1 to over 30 percent. The average fee for most companies is 30 percent. If you borrow $100 from a payday loan company you owe them at least $130 if the fee is 30 percent.
Depending on the loan amount you need you may find the APR is set up at 300 to 1400 percent. Typically the lower amount that you borrow has a lesser interest rate because the interest rate is based on risk. If the company has a smaller risk they offer a lower interest rate. This is not always true, but it does matter in giving you an average of how things work.