Payday Loan -

Payday lenders often charge a flat fee of borrowed. While this sounds like a "15% interest rate," the short term makes the Annual Percentage Rate (APR) astronomical. Payday Loan Credit Card Personal Loan Typical APR ~400% 12% – 30% 7% – 36% Repayment Lump sum (2 weeks) Monthly (variable) Monthly (installments) ⚠️ Key Risks

On your next payday (usually 2–4 weeks later), the lender cashes the check or pulls funds from your account. The Real Cost (APR) PAYDAY LOAN

If approved, you get cash or a deposit, often the same day . Payday lenders often charge a flat fee of borrowed

What is a payday loan? | Consumer Financial Protection Bureau The Real Cost (APR) If approved, you get

You write a post-dated check for the full loan plus fees, or authorize an electronic debit (ACH).

A payday loan is a short-term, high-interest borrowing option designed to bridge a financial gap until your next paycheck. While they offer "fast cash" without a credit check, they are often criticized as predatory due to their extreme costs. ⚡ How it Works

You provide ID, proof of income, and an active bank account.