Rates & Fees Disclosure

PaydayEase is not a lender and does not make loans or credit decisions. We provide a free service that connects you with lenders and lending partners. The lender, not PaydayEase, decides whether to approve you and sets the rate, fees and repayment terms.

Representative example

A $300 loan for 14 days with a fee of $45 has a total repayment of $345 and an APR of about 391%. Actual costs vary by lender, loan amount, term and your state.

APR and terms

Short-term loans can carry high APRs, often in the triple digits. Payday loans are usually due in a single payment on your next payday, typically 2 to 4 weeks after you borrow. Installment loans may be repaid over several months. Your lender must show you the APR, finance charge and payment schedule before you sign.

Late and non-payment

If you miss a payment, the lender may charge late or returned-payment fees as allowed by your state, and may send the debt to a collection agency. Your bank may also charge fees for returned payments. Non-payment can be reported to credit reporting agencies and may affect your credit.

Renewals

Some states allow loans to be renewed or rolled over for an additional fee. Renewing increases the total cost. Ask your lender about its renewal policy and any extended payment plan your state requires.

State availability

Payday loans are not available in every state, and states set different limits on loan amounts, fees and terms. Lenders only offer loans where they are licensed and where the product is legal.

Credit checks

Lenders may check your credit with one or more consumer reporting agencies, including specialty agencies that track short-term loans.