This post is going to discuss what the interest rates are for payday loans, what you can expect when you will have your account extended on, and some additional tips on how to apply for this type of loan.
It would be best to ask a financial expert before getting your payday loan from a loan company. That way, no matter what case you are in, you can be assured of knowing what your rates may be. Of course, that is more difficult if you are unemployed, and you may not know which firm to choose. Here are some breakdown of the average interest rates.
Lawyer payday loan : An annual percentage rate of just 4.88% is typically a loan available with the most popular payday loan lenders, the less popular ones usually averaging 3% of the balance each month.
Bank paid payday loans : An annual percentage rate of 8.29%.
Bank Payday Loans ( moving to credit cards) : It has been around for a long time, and it may or may not have undergone changes. The average APR on the bank paid systems is 3.73%.
Payday Loans payment terms varies depending on the product. It is generally whatever you choose to pay.