Payday loans in Washington
| Rank | Lender | Amount | Fee | Notes |
|---|---|---|---|---|
| 1 | AmeriAdvance |
No details disclosed, see below | No details disclosed, see below |
High approval rates No Faxing |
| 2 | Check City |
No details disclosed, see below | No details disclosed, see below |
Popular choice No Faxing |
Terms specific to Washington by law
Maximum Amount: $700
Maximum Days of Loan: 45 Days
Maximum Charge for a 14-day $100 loan: $15
Number of Outstanding Loans at One Time allowed: Not Specified
Rollovers Permitted: None
Cooling-off Period: Not Available
Repayment Plan: Available
What are Payday Loans and How Does it Work?
- Quite a few times, payday loans are the only option left for people in need of cash. However, before you choose to apply for these loans, you must know a little bit about them. Payday loans are short-term loans and are also referred to as “cash advance” loans.
- These loans can range anywhere from $100 to $700 in Washington and come with a higher rate of interest. Payday loans are all about urgency and hence are highly convenient in times of an emergency. For the most part, the lender will charge a specific fee for every $100 borrowed. Many a times, the lenders are capable of extending the payment term, but the borrower is still entitled to any penalties involved.
- Payday loans are issued for a very short time and are generally due on the next payday. In order to secure these loans, the lender would require a post dated check with the entire loan amount and any additional fees applied. All those people above the age of 18 and a steady source of employment can apply for these loans.
- Unlike the long-term loans, the application process is pretty simple and would take less than a few minutes. On the other hand, you can apply for these loans over the Internet as well. As soon as you complete the online submission, you can request the loan amount in your bank account. Just like any other loan, you must look around for the best interest rates while applying for payday loans.