average interest on payday loan

Fact Sheet On Payday Loans
"Payday" loans are small, short-term loans made by check cashers or similar . The interest rates for such transactions are staggering: 911% for a one-week loan ; 456% . According to a Wall Street analyst covering the industry, "the average .

Payday for lenders? - MarketWatch
Nov 30, 2006 . To pay back a $325 loan, the average payday-loan borrower pays a total of $793. The average annual interest rate on such loans runs about .

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    Average Interest Rates for Payday Loans | Payday Loans Online ...
    Average Interest Rates for Payday Loans. If you are strapped for cash and are contemplating taking out a payday loan, there are several things you should first .

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    Payday loan - Wikipedia, the free encyclopedia
    The average loan size is around 300, and two-thirds of borrowers have annual incomes below 25000. There are no restrictions on the interest rates payday .

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    What is a typical interest rate on a payday loan? | Answerbag
    The short-term payday loans can often have annual percentage rates . What is a typical or average interest rate for a motorcycle loan with a .

    Payday Lending
    Payday loans beckon borrowers with promises of quick cash and no credit checks. . average 400 percent annual interest, catch borrowers in a turnstile of debt.

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    4 alternatives to payday lending
    Payday loans often create more problems than they solve. . of America in Washington, D.C. On average, the industry makes $40 billion in loans and . program -- known as SALO -- which offers no-fee loans with a 12 percent interest rate.

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    Payday loans are short-term cash loans based on the borrower's personal check held for future . Loans typically cost 400% annual interest (APR) or more. . A $300 cash advance on the average credit card, repaid in one month, would cost .

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    Nixon reiterates call for reform in payday loan industry in Missouri ...
    Feb 16, 2007 . A recent report showing that payday loan businesses in Missouri . in payday loan industry in Missouri after report cites average APR of 422 . in fees and interest on payday loans in 2005, second only to California nationally.

    FinAid | Student Loans
    An education loan is a form of financial aid that must be repaid, with interest. . and the average student loan debt among graduating seniors was $23186 .

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    Report: Average MO payday loan interest rate at 445% (AUDIO)
    Report: Average MO payday loan interest rate at 445% (AUDIO). February 7, 2011 By Ryan Famuliner. A state reports shows some interesting developments in .

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    How the Major Banks Finance Payday Lending Companies ...
    The average effective interest rate on a payday loan is 455% (APR). For a loan of $300, a typical borrower pays on average $775, with $475 going to pay .

Pastors Push Petitions to Cap Payday Loan Interest, Raise Minimum ...
Apr 18, 2012 . The other would cap interest rates on payday loans at 36 percent. Petition organizers claim the current average interest rate for a payday loan .