interest definition

interest definition
payday loanscash advancepay day advanceloanadvance resources

Payday Loan Glossary: interest

Interest is the amount paid by a borrower to a lender for the privilege of borrowing the money.



Click here for more interest / Understanding Payday Loan Terms

Enter your email address below to learn about alternative business financing options.


Definition: interest (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:
Find out what they will charge for that service - as a late charge, an additional finance charge or a higher interest rate.
If you are regularly using most or all of the funds in your account and if you make a mistake in your checking (or savings) account ledger or records, overdraft protection can help protect you from further credit problems. Find out the terms of overdraft protection.

Payday Loan / Cash Advances Common misspellings:
pyaday, apyday, payda, paydy, payay, paday, pyday, ayday
loan, loam, roan, lone, loin, roin, loen, roen, roam, olan, oran, lona, rona, 1oan, laon
cash, cache, cahs, csah, acsh
daance, davence, avahnc, davnce, davanse, avahnse, davace, davense, avahnce, davane, davanc, avenc, davenc, avanc, davahnce, avense, davahnse, avanse, davahnc, avence, dvance, davance, advamce, advanec, advacne, advnace, adavnce, avdance


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 - 2004 HJ Ventures International, Inc.