Archives August 2020

Loans that are available without the otherwise mandatory process of credit history verification are known to be amongst the highest risk loans from the lenders’ perspective. The high risk creates the need for high returns, which allows them to be amongst the most expensive loan products in the market.

However, these are typically very short term loans, the total amount of interest and fees may at times not seem so much but the rate of interest in terms of APR (Annual Percentage Rate) does remain high. We shall discuss this … Read More..

Known as an expensive loan product, a payday loan is a typically high interest rate loan, which is high in interest because of the high risk at which lenders offer the loans, while the market accepts the rates due to the needs it’s able to fulfil and the quickness it can do that with.

Payday loans however can be both expensive and cheap, depending on how well they are managed. What gives payday loans this unique advantage is that these loans are of very short terms and taken from the … Read More..

Despite their higher rates of interest in comparison to traditional loans, payday loans have their own share of advantages, which aren’t just a few. From quick approvals and transfers to funding borrowers with bad credit scores, payday loans serve a number of purposes for different borrowers, depending on their needs. However, the one drawback about them is their fixed repayment term which can get stressful for some.… Read More..