A payday loan is up to $1,500, due within 62 days, at up to $14 per $100. An instalment loan is usually larger, repaid over months, and capped at 35% APR. On amounts you can't repay by your next payday, an instalment loan usually costs less overall.
What’s the difference between a payday loan and an instalment loan?
A payday loan is up to $1,500, due within 62 days, at up to $14 per $100. An instalment loan is usually larger, repaid over months, and capped at 35% APR. On amounts you can't repay by your next payday, an instalment loan usually costs less overall.