What is Payday Loan?
A payday loan is a type of short-term loan in which a person can borrow a small amount of money till his paycheck arrives. You can easily avail this type of loan through high street lenders or different websites available on the internet.However, the interest rate on short-term payday loans is high. Such types of loans are not very friendly as you can end up paying a high interest. There are different short-term loans direct lenders, so you must visit multiple lenders and select the one that offers less interest rate.