Rates & Fees

Since cash loan providers have limited credit score requirements, the interest rate and fees reflect the higher risk that the loan provider is taking when lending you money.

Most banks often require extensive documentation of your income and assets, but cash loan providers only require a recent paycheck stub, your checking account routing number and confirmation that you are over 18 years old.

Most banks take at least a few days, if not weeks, before approving your application, but cash loan providers will approve your submission within an minutes in most cases. After you accept the terms of a loan, the funds will electronically transfer directly into your checking account within a few days.

Some states have enacted laws regulating the interest rates and fees loan providers can charge borrowers; therefore, your state of residence may impact the rates and fees charged on your loan. It's a good idea to review the laws regulating payday loans in your state to see if such a loan would be advantageous to you.

"Useful Information"

  • Don't Bank at a Bank: Why Credit Unions Are Cool.
  • Good Debt vs. Bad Debt
  • Teaching Your Kid Financial Responsibility
  • 5 Inexpensive Vacation Ideas
  • Good Debt vs. Bad Debt