Difference between pay day loan and personal loan

How do payday loans differ from personal loans?
AnneJones
Asked Oct 30, 2014
I have read from one of the article that a payday loan is a very short-term, high-cost loan that gives cash-strapped consumers the money they need until their next paycheck while a short-term personal loan has a fixed interest rate and fixed repayment period.
samanthainglis
Answered Dec 12, 2014
the difference between the two is that the pay day loan you pay it daily were us the personal you payed that individually were you have loan.
alansampson86
Answered Dec 14, 2014
They both same thing, or lest very similar but there are some big differences between them. Payday loans are generally very short term and are secured against your next paycheck. While, personal loans are commonly for larger amount of debts for immediate financial problems and are paid back on installments over a longer period of time. For more info visit us http://goo.gl/ZVQJsE
katerichards
Answered Dec 25, 2014

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Kimberlypaul
Answered Sep 18, 2015
Pay days loan and personal loan is totally diffrent in pay day loan you need to pay whole amount on a single day till that you need to pay interest while in personal loan you can repay your loan in installments if anyone wants personal loan visit here http://loan.gallery/
tiphanyhas1961
Answered Jul 22, 2017
A payday loan is a type of short-term borrowing where an individual borrows a small amount at a very high rate of interest to full his/her short terms requirements.
personal loans are mostly for larger amount of loan t solve financial problems and are paid back on installments over a longer period of time.
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Answered Oct 25, 2017
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housingfinance2
Answered Mar 02, 2018
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nucuts09
Answered Mar 03, 2018
In Payday loans lenders follow some important procedure like they make an inquiry into your credit when you apply for a personal loan, and each loan inquiry can lower your credit score a little bit.While in the Personal loan generally has a fixed interest rate and fixed repayment period.
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Answered Apr 13, 2018

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Mr Abdullah Ibrahim
abdullahibrahim
Answered Jun 27, 2019
Hi, payday loans are short term loans with reasonable interest rates even for bad credit score and the payoff will be on next payday. Personal loans are short term loans and the payoff will be on the chosen tenure with including interest rate as per the terms and condition by financer.
jamespeter2296
Answered Sep 05, 2019

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