Payday loans or cash advances are unsecured small cash loans and the lenders do not ask you any guarantee to approve the loan, but they will charge a high interest rate amount to issue these loans without credit checking, no faxing of documents and no lengthy process of approval.
The cost of payday loans varies between state to state and lender to lender. All the lenders should follow the state’s financial laws and set their APR fee structure accordingly. The below is the general fee structure including late fees, non payment fees, check bounce fee, and other finance charges. Check the same on lender’s web site in fee and rates page and confirm the prices.