Payday Loans | Interest and debt | Finance & Capital Markets | Khan Academy
How Payday lending works. Created by Sal Khan. Watch the next lesson: ...
Best Personal Loans 2018
These are the 3 best personal loans I found online. I'll cover why you'd want a personal loan and the pros and cons of each.
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A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as ...
Payday lenders usually charge a fee instead of an interest rate. Typically, a £100 loan for a month has a fee of around £25, so you need to repay £125.
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