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Low cost payday loan options

Updated on November 14, 2009

low cost fee

There is a number of companies that allow you to access their low payday loans. A payday loan should only be used in the case of an emergency and should be used with caution. You should no take a payday loan in the circumstance that you will need funds for a extended amount of time. These low payday loans are available at a low price because of only allowing a loan for a short amount of time. Most people that take out low payday loans don’t realize that these loans if not paid back in a short amount of time will start to increase what payments should be and will get you with high interest. The companies that have low payday loans require that on your next payday you repay the money that was borrowed. They usually will debit your account first thing on your payday and consider the loan paid with a significant amount set to take out in addition to the funds they loaned.

The typical fee for accessing a low payday loan is typically 10-20% of what you borrowed. Some companies will offer lower payday loans if you are a first time customer. If you decide on using a payday loan always keep in mind that when you access a payday loan if not paid back at which point you agreed upon it is the same as cashing a bounced check. There are legal issues then to face when not repaying the money on the schedule date unless other arrangements have been made. Most of the low payday companies will require you to fax them a signed agreement that states you are going to repay them the amount of the loan plus the additional fees and will list the information on where you work and how to contact you in case you are unreachable another source that can be reached. 


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