What you need to know about payday loans.
If you don’t pay a payday loan on time, the interest will now be on the total of the unpaid amount including the last interest. Most pay day loans must be paid every 2 weeks or in rare cases, a month. Pay late and your interest skyrockets by hundreds and thousands of dollars depending how late you pay.
Note that what pay day loans charge in 2 weeks/1 month is almost the same as what Prudent charges in a whole year. Just imagine what you can do with all the money you’ll save by coming to Prudent!
See the chart below for a comparison between payday loans and Prudent loans.
|Loan Amount||Payday Loan 2-Week Costs||Prudent’s Monthly Costs||Payday Loan Annualized Costs||Prudent’s Annualized Costs|
Say No to Pay Day Loans!