pay·day loan
noun
a relatively small amount of money lent at a high rate of interest on the agreement that it will be repaid when the borrower receives their next paycheck.
"consumer advocates and lawmakers are urging low-income consumers to avoid payday loans"
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Payday loan
A payday loan is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover immediate financial needs and are intended to be repaid on the borrower's next payday. Wikipedia
Payday loans are short-term, high-interest loans based on your income. The principal of the loan is generally equal to a part of your upcoming paycheck.1 ...
A payday loan is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover immediate financial ...
Jan 19, 2024 · A payday loan is a high-cost, short-term loan for a small amount — typically $500 or less — that's meant to be repaid with the borrower's next ...
Many consumers who need cash quickly turn to payday loans – short-term, high interest loans that are generally due on the consumer's next payday after the ...
A payday loan is a small, unsecured, high interest, short-term cash loan. In most cases, consumers write a post-dated, personal check for the advance amount, ...
Payday loans. When you're considering a payday loan, or when you're paying one back, it's important to understand how they work and know ...
May 10, 2024 · The average interest – or “finance charge” as payday lenders refer to it is 15%-20%. That puts the interest charge between $56.25 and $75 for a ...
It sounds quick and easy: someone gives a personal check or account debit authorization in exchange for a loan plus a fee (which is actually interest on the ...
Mar 25, 2024 · A payday loan is a type of short-term unsecured personal loan, generally of $500 or less, and typically due on your next payday.