answersLogoWhite

0

The average interest rate on a same day payday loan can be over 900 % for a one week loan, over 400 % for a two week loan and 200 % for a one month loan.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

What is the average interest rate on a payday advance loan?

Payday loans are small, short-term loans made by specialist companies. According to the consumer's union, the average interest rate for these loans is 911%.


What are the fees and interest rates on EZ payday loans?

The average rate on payday loans is 400% annual interest (APR) or more. You will be better off with a personal loan if you can qualify.


What are the interest rates on most payday advances?

Interest rates on payday advances can add up to between 300% and 3,000%. Payday advance loans can be dangerous because they have a 10-20% default rate on average.


What is the average interest rate for a fast payday loan?

"Payday loans have HUGE interest rates. Depending on the length of the loan your interest rate can vary from over 200% to almost 1000%. These loans are mostly used by the working poor, and only help to bring already struggling people further into debt."


Where can one get quick payday loans?

One can get quick payday loans by going online and applying for payday loans. You will be able to get fast cash, but it will come attached with an extremely high interest rate.


What companies have the best payday loans?

You're most likely not going to get a low interest rate on a payday loan. The best companies for these loans are www.clicknloan.com/ and www.cashadvance.com/.


What is the average rate of military payday loans?

The average rate is 15% of military payday loans based on income, family size and other things of this nature. These rates can vary depending on different sorts of variables.


What is the average interest rate on a Sonic Payday loan?

The average interest rate on a Sonic Payday loan depends on many factors such as amount borrowed and length of time. The average seems to be around 5%.


What is a typical interest rate on payday cash loans?

The typical interest rate for a payday loan is usually between 300 and 700%. This is due to the rather extreme risk on the part of the person or business issuing the loan, and in some cases, the interest rate can go beyond 1000% APR.


What type of interest is expected on a payday loan?

A payday loan is a very dangerous loan, as it requires an individual to pay an (sometimes) extremely high interest rate. These loans are recommended to be steered clear from.


Is payday loan assistance good?

There is no denying the fact that payday loans does provide you with the instant cash money at the time of urgent cash needs, but you must know that these payday loans comes with a price tag. The rate of interest charged is a bit higher and if you are unable to pay the loan on time, then you can be virtually bankrupt. It is always wiser to opt for these payday loans after assessing your financial conditions. If you think that you would be able to repay the loan on time and afford such a high interest rate, then go for this loan otherwise it is wiser to stay aloof from these loans.


Where do you get the best rates loans?

The best rate of loans will ultimately be from your banking provider. One should try to steer clear from payday loans as their interest rates are sometimes known to be 1734%.