- CSZiggy

- Archived posts: 627
- Joined: Jan 31, 2018
Re: Has anyone heard of 1000 same day loan?
Depends on how badly you need it.
There are many different ways to calculate annual percentage rate of a loan. Depending on which method is used, the rate calculated may differ dramatically; e.g., for a $15 charge on a $100 14-day payday loan, it could be (from the borrower's perspective) anywhere from 391% to 3,733%
Banks typically only charge 3-5% for a loan.
Payday is a great way to drain a low-income paycheck into nothingness when you get your next paycheck creating a vicious cycle.
Best of luck.
There are many different ways to calculate annual percentage rate of a loan. Depending on which method is used, the rate calculated may differ dramatically; e.g., for a $15 charge on a $100 14-day payday loan, it could be (from the borrower's perspective) anywhere from 391% to 3,733%
Banks typically only charge 3-5% for a loan.
Payday is a great way to drain a low-income paycheck into nothingness when you get your next paycheck creating a vicious cycle.
Best of luck.