interest rate definition

interest rate definition
payday loanscash advancepay day advanceloanadvance resources

Payday Loan Glossary: interest rate

Interest Rate is the rate of return the lender receives for permitting the borrower to use the mortgage money for a specified term. The interest rate is usually expressed as an annual percentage rate, calculated semi-annually, not in advance.



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Definition: interest rate (Cash Advances)

Payday loans provide cash advances to people in need of quick money. The payday loan store (or online pay day provider) can assist consumers in paying off debts such as utility bills or emergency car repairs when the cash flow is not readily available from their bank accounts.

Alternatives to Payday Loans (Cash Advances): The FTC has the following suggestions when researching an online payday loan provider or store:
When you need credit, shop carefully. Compare offers. Look for the credit offer with the lowest APR - consider a small loan from your credit union or small loan company, an advance on pay from your employer, or a loan from family or friends.
If you need help working out a debt repayment plan with creditors or developing a budget, contact your local consumer credit counseling service. There are non-profit groups in every state that offer credit guidance to consumers. These services are available at little or no cost. Also, check with your employer, credit union or housing authority for no- or low-cost credit counseling programs.

Payday Loan / Cash Advances Common misspellings:
payday, paydaie, peighday, peighdaie, paydya, payady, padyay
loan, loam, roan, lone, loin, roin, loen, roen, roam, olan, oran, lona, rona, 1oan, laon
cash, cache, cahs, csah, acsh
advance, advane, advace, advnce, avance, advanc, advenc, advahnc, advahnce, advahnse, advense, advence, advanse, adance, adanc, adenc, adence, adanse, adense


The cost of pay day loans, under the Truth in Lending Act, must be disclosed like other types of credit. You have to be provided with: the finance charge (dollar amount) and the annual percentage rate / APR (the cost of credit on a yearly basis).

Information on No fax payday loans and quick cash advances

Payday Loans Glossary of Terms - Define: interest rate - 2004 HJ Ventures International, Inc.