Faxless Instant Loans

Hi! Here's a treasure trove of educational writings and important
resources to explore when considering an instant cash loan.

Why a payday loan has higher interest than a bank personal loan
By Toni Phelps

Ever wondered why a payday loan interest rate is higher than a bank's personal loan The truth is, payday loans don't have an interest rate... instead a fee is charged.

Why is a payday loan interest rate higher than a bank personal loan?

A payday loan is a short term, high risk loan, and is offered to anyone with no credit checks. Generally, payday lenders do not charge an interest rate, but instead charge a flat fee" based upon the loan amount and the date the loan is repaid. Because of the lender's high risk and the short term of the loan, by comparing the fee to that a typical bank personal loan, the interest rate calculation is higher.

Typicall...
[ Read Article ]

More Instant Cash Loans Resources

In the News

Pay Day Loans Firm Wonga Sets Its Sights On Small Businesses
Controversial pay day loans company Wonga is targeting Britain's small business with the launch of a new service to give companies "an instant cash flow... Read More ...

Amigo Loans and the dangers of being a guarantor
A new loan company is offering loans without credit checks or fees. The catch? You need to persuade someone who owns their own home to guarantee it. Read More ...

Broke 20-Somethings Are Living Off Payday Loans, Check Cashing And Prepaid Debit Cards
Payday loans, check cashing and prepaid debit cards have found a new customer in the cash-strapped twentysomething. Read More ...

Material Connection Disclosure:
If you purchase any items as a result of clicking any advertisements on this website,
please be aware that we receive material compensation.

Privacy Notice | Terms of Use | Contact Us