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A payday loan also referred to as a payday advance, salary loan, payroll loan, small-dollar loan, short term, or cash advance loan, is a small, short-term unsecured loan. Those loans are also, in some cases, described as a "cash advances," though that term can also pertain to cash provided against a predetermined line of credit like a credit card. Payday advance loans depend on the consumer having prior payroll and employment records. Legislation concerning payday loans differs widely between various countries, and in federal systems, between different states or provinces. What Is a Payday Loan?

A payday loan is a type of short-term borrowing where a lender will extend high-interest credit based on your income. Its principal is typically a portion of your next paycheck. Payday loans charge high-interest rates for short-term, immediate credit. They are also called cash advance loans or check advance loans.

How Do Payday Loans Work?

Payday loan providers will normally require you to show proof of your income—usually your pay stubs from your employer. They will then lend you a portion of the money that you will be paid. You will have to pay the loan back within a short time, generally 30 days or less.

Is a payday loan secured or unsecured?

Most payday loans are unsecured. This means that you do not have to give the lender any collateral or borrow against a valuable item as you do in a pawn shop.

How to Avoid the Payday Loan Trap?

On the off chance that you are experiencing issues reimbursing a payday loan, your bank might offer you an extension known as a deferral or rollover – or even another loan. However, your lender can only offer you a maximum of two rollovers.

 

Loan Information:
Loan amount: $ 5,000.00 -$ 50,000.00
Loan term: 91 days (shortest, including renewal time) - 365 days (longest, including renewal time)
Annual interest rate (APR): up to 20%

Fees:
processing fee:0
Channel fee: Charge by the third party
Service fee: Minimum 0%, Maximum 5%

For Example:
91-days(3 months) loan with interest rate of 12%, and principal amount is$10000
Total Interest fee:$10000*12%/365*91=$ 299.17
Service fee 10%:$10000*10%=$ 1000
Total repayment :$10000*12%/365*91+10000+1000=$ 11299.17
Monthly repayment:$11299.17/3=$3766.39

Advantage:
 - Convenient online app
 - Instant cash Loan
 - Simple pesoloan Process
 - Easy Approval

 

Declaimers: We are not asking the applicant to pay advance money for a loan. Please be aware suck kind of fraud. This is not an official app or government app, this app is only for help user. We also not collect any personal information.

This App only for guidance : how to apply various type of loans and this app not borrower any type of loan to any other. this does not asking to app users for pay money for loan. Be aware this kind of fraud.

NOTE: This Application Only Provide Guideline for How To Apply loan on mobile and not give any type of loan to you.