Always check interest rates when you compare instant cash advance websites. The most common rate is $25 per $100, which is an APR of 650% annually. Some website lenders charge considerably more, with interest rates in the thousand percent range or more. You can find lower rates, even as low as $10 per $100, which is why you want to browse around before you borrow.
What to look for from a lender
Not only do you want to find the lowest interest rate or fee, but you also want to find a reliable lender. Two things to look for first are the secure website icon, and to see if the website has Better Business Bureau approval. You can call up the lender and ask questions about how long they have been in business. Most reliable sites will have fees that are in line with the lower end of things, and are competitive.
The interest rates are important, and may seem to be high. In actuality, if you bounce a check, those fees will be even higher in the long run. If you are late on a utility bill, or credit card payment, by the time they add in all their reconnect and/or late charges, you will be paying a lot more than the approximately 400% charge for a short term cash advance loan online.
Typical Cash Loan Length Periods
The loan period is usually about two weeks. Not less than a week, and usually not more than a month is the normal period. Loans are taken directly from your banking account, and repayment is done the same way with an ACH withdrawal electronically on the due date. It is important to have enough money in your bank account at repayment time if you want to ever get another payday loan. But, as a rule, always check interest rates - way pay more?
Looking for a comparison of the top cash loan providers that have the lowest interest rates? Check out The Instant Cash Loan websites. If you are having trouble with the above link, you can also try it here
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