How Instant Payday Loan Fees Work

Instant payday loans are granted to borrowers for a small fee, as a payroll advance until their next employment pay period. The fee for an instant payday loan can be anywhere from fifteen dollars to thirty dollars for every hundred dollars borrowed. This amount will depend upon the instant payday loan lender that approves your application. Instant payday loans are a source of fast cash and can be arranged within a few minutes of applying for them. Some instant payday loan lenders will offer installment payment options with the loan being provided to the borrower. If you choose this option in repaying your loan, your lender may apply fee to every payment made.