In providing you with a cash advance, payday loan companies hold you to a contracted finance charge and interest rates which vary between agencies. However, these interest rates are generally at about 400% annual interest, and can be higher. The less time the loan is to be taken out, the higher the interest rate. Payday loans can be repaid in varying intervals, but they are generally made out to be repaid within two weeks' time.

More FAQs:

What is a Payday Loan?

How Do I Qualify For a Payday Loan?

How do I find a reputable Payday Loan Company?

Is a Payday Loan Right for me?

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