What are the fees? (FAQ)

One of the most commonly asked questions about payday loans are "What is it going to cost?" The reality is that payday loans generally do come with higher rates and fees. This is mainly due to the convenience factor. Applicants with less than perfect credit can usually qualify for a payday loan and the cash funds are normally available within one business day. These features, along with the simple loan application and quick approval times, allow payday loan lenders to charge more for their services than traditional lenders.

Fastloan.org does not make loans of any type. Our only goal is to successfully match an applicant with an appropriate payday lender. Every lender sets their own terms and conditions as far as interest rates, fees, penalties, and other loan costs. Factors which might influence an applicant's rates are income level, amount of outstanding debt, and state of residence. Our loan referral service is free of charge and you are never under any obligation to accept a loan, if offered.

Even though payday loans differ from traditional loans in many ways, they still must adhere to the guidelines set forth in the Truth in Lending Act. This means that the lender must give you written notification of all fees, penalties, the total cost of the loan, and the annual percentage rate (APR) before asking to formally sign your loan agreement.

Borrowing money is serious business. It is your responsibility as an educated consumer to thoroughly read, review, and understand all the terms and conditions contained in your loan agreement. If you have any questions or concerns, speak with your lender before committing legally to the loan. You always have the choice to decline any loan offer from any lender anywhere, period.

Residents of Arkansas, Georgia, New York, Oregon, Washington, West Virginia and Vermont are not eligible to apply.