Understanding the costs of renewing payday loans

Before you take out instant payday loans, it is important to know the costs and fees that come as a result of borrowing the loan. Generally, payday loans charge fixed fees on the amount of money a borrower borrows. The fee can range based on the lender and in most cases, this usually starts from $5 to $30 for $100 borrowed. This will also depend on the maximum amount of money allowed by local laws. Typically, a fee of $15 for every $100 borrowed is common. In mathematical terms, this equals to an APR (annual percentage rate) of about 400% assuming that the loan duration is two weeks.

Click here to know more about #lainoja (loans)

Comments

Popular posts from this blog

How to purchase a home easily

Features of LED headlight bulbs that makes it special

A great place to play unique online qqpokergames