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Payday Loans

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Payday Loans

The Definition

Payday loans are short term cash loans that are typically provided for short period of 7 Days to 31 Days. The amount of loan varies from $100 to $1500 depending upon the state rules and eligibility. Payday loans are typically unsecured loans which can be used to get fast cash in your bank account, usually within 24 business hours. Repayment in payday loans is usually done with a single payment at the end of loan period.

The Use

Payday Loans are best used for emergency expenses such as car repair bills, utility bills and other mid month expenses etc. It is highly recommended not to use payday loans for an unnecessary expense or to repay other loans because these are short term loans which have to be repaid within few days and have a higher APR than other loans. However, a payday loan is a good choice for payment of any sudden expenses. Please borrow responsibly and take payday loans only if you can easily pay back on the day you get your next salary/wages because some lenders might charge late fees and other charges if you miss on your payment and this might also affect your credit score.


The Annual Percentage Rate or APR is the YEARLY rate of interest that lenders charge for the payday loan amount. The APR depends on state regulations, personal eligibility and repayment terms. Different states have separate laws for APR for example maximum payday loan amount allowed in Alabama is $500 with maximum 17.5% interest per $100 whereas California rules only allow payday loans up to $300 with interest and finance charges at 15% of the loan value. Period of payday loans can also differ according to states regulations. Please refer Rates and Terms for more details. Depending upon the state rules, a lender can charge APR in the range from 200% and 1386%. Usually, the APR increases in case of shorter loan period and APR will be lower in case of longer loan term. Please check APR information carefully before signing the loan agreement with any lender or broker.

What We Offer

The Loans Point provides a platform where your payday loan requirements are matched with our nationwide network of lenders thereby increasing the chances of being accepted by multiple lenders. The Loans Point has more than 100 lenders on its panel and help you in finding suitable and affordable loan offers according to your requirements. Every year, millions of people use payday loans to cover their short term cash loan needs and we are 100% dedicated towards finding convenient and affordable payday loans for our customers.

How to Apply?

Just complete our 3 minutes no obligation application form to apply for online payday loans. Get instant online decision for payday loans. Complete for our 100% Online form with personal information, contact information and financial information and get approved today!

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