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The best fee for a payday loan should be something reasonable yet something that the company can benefit from. Anything from 5-15% of said loan would be a good rate.

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14y ago

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What does payday loan lenders mean?

Payday Loan Lenders are where you can get money now for a fee. In my opnion they are a rip-off but if you need the money in todays econmy then they are a great place to help you out...with a fee of course.


Can you extend your payday loan?

Yes, depending on which state you live in. For most states, payday lenders have put into place mechanisms to extend loans up to the maximum number of times the state allows. When extending a payday loan, keep in mind that you will pay an extension fee (which will be the same as the origination/application fee) that you paid when getting the payday loan in the first place.


What is the difference between a cash advance and payday loans?

The difference: A payday loan does not require any type of credit card check. There is a fee one must pay to get a payday loan. A cash advance requires a credit card and have a small fee one must pay.


How much is the late fee for 1 hour payday loans?

Most payday loan places charge $25.00 for a late fee. This can vary depending on the provider. The late fee for one hour payday loan is interst about 5%. So maybe if my math is correct that would come to be about 2 to 3 dollars for an hour.


What is the meaning of an online payday advance?

An online payday advance is the same as a payday advance except you can get it online. It's when you get a loan from a company for a high interest fee.


Where can one find a military payday loan?

"You can find a military payday loan in many places. The best place to go to get a military payday loan, however, would be to go to a payday place to get money really fast."


What companies offer a low fee payday loan?

If you're looking for a low fee payday loan, you can try 100DayLoans, NetLoanUSA, FaxFreeCash or MyCashNow. But if you don't live in the United States of America, you could try Wonga, Kwik Cash, and PaydayUK


Which will have a higher effective interest rate a payday loan for 2300 due in 15 days with a fee of 120 or a payday loan for 2300 due in 13 days with a fee of 120?

To determine the effective interest rate, you can calculate the fee as a percentage of the loan amount and annualize it based on the loan duration. For the first loan, the fee of $120 on a $2300 loan over 15 days results in a higher effective interest rate compared to the second loan with the same fee but a shorter duration of 13 days. Since the second loan has a shorter repayment period, it will yield a higher effective interest rate when annualized. Therefore, the payday loan due in 13 days will have a higher effective interest rate.


What are the best qualities of a best payday loan?

Payday loans are great due to the fact that if you have had past employment, you are almost guaranteed a loan. Payday loans are good for short term monetary needs.


When would getting a payday loan be a good idea?

A payday loan maybe a good idea if you can pay the money back as soon as you get your pay check. Also you can avoid late fees from paying bills late, so if the interest from the payday loan is less than the fee of paying the bills late, the payday loan would be a good idea.


Do you have to pay anything upfront for a payday loan from payday first?

No, you do not have to pay an upfront fee - and you should never pay an upfront fee in order to secure a loan. All Payday lending is an expensive form of borrowing. Sometimes though, it can mean the difference between paying an important bill and not being able to pay it.


How do I find somewhere to get a payday loan?

Check'n'Go offers payday loans. You will usually have to write a check for what you want, plus a small fee to get the loan. Once you are ready to repay, the company loaning to you will cash the check.