Payday Loan Costs
Payday Plus charge a flat brokerage fee of $38.50 for each $100 borrowed through our online lenders. Lenders may also charge you interests but this cannot be more than 48% APR. Our preferred online lender charges just 39% APR.
About our APR…
Our typical APR may look huge, but it needs to be explained.
APR stands for ‘annualised percentage rate’, but our short-term loans are for an average of just 25 days, so when you scale up the loan over a year the APR makes the loan look much more expensive than it really is.
As responsible lenders, loans with paydayplus will never cost you more than the total amount borrowed.
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What are they?
Payday Advances are easy loans, up to $1,000 for first time applicants and up to $1,000 for existing customers. They are deposited straight into your bank account on the same day you apply and are repaid on your next payday. Bad credit is accepted as there is no credit check without your approval. Money can be deposited into your account on the day you apply, when you apply before 2PM.
You need to be:
- Over 18 years old
- Employed either full or part-time
- Take home more than $1,200 a month
- Have a bank account