What are Payday Loans repayment terms?

Payday loans are called short-term as they must be paid off within a very short period of time, usually 2 weeks or a month as soon as a borrower gets the next pay-check.

 When you take it you give the lender a check or access to your bank account. And the money is paid off with your next paycheck. If you can’t do it, there may be some extension or roll-over depending on the conditions of the agreement you’ve signed. So be careful. And if you doubt your ability to give the money back, maybe consider the option of personal lending which is repaid in scheduled installments within a longer period of time.

To stop hesitating and be more confident in your decision read our article proving that Payday loans are not so dangerous as they may seem read our article “Payday loans for only $1 overpay”. You’ll see that high APR is compensated by short repayment term.

If you pay the money back on time, without rollovers or extensions, your budget won’t suffer.