Can I pay off the loan earlier?

A Payday Loan must be repaid in the term which is stated in the agreement (14-31 days), usually with your next paycheck. It’s a very easy procedure. When you take a payday loan you just give the lender a check or access to your bank account. And when you get the next pay-check he just withdraws the necessary amount from your account.

If you can do it earlier there won’t be any prepayment penalty. 

As the total cost of the loan includes the principal and the interest, it will naturally be lower if the interest will be calculated for fewer days.