Where to Find the Best Low Fee Payday Loans

If you need to borrow funds against your next paycheck, but want to be certain that you are not being charged an arm and a leg in fees and service charges, the most important thing you can do is to do your research before you sign on the dotted line. Low fee payday loans are not hard to find, if you do the proper research. This can be done by grabbing your phone book, looking in the yellow pages and calling around to local payday loan companies, or you do a search on the web where the fees should be stated on their site. If they are not, skip over it and go to the next one.

You will get the lowest fees and service charges if your paychecks come on a standard two week pay period. Those who only get paid by the month can expect to have larger fees tacked on to their loans due to the fact that the payday loan companies will not be getting their money as soon as a two week loan payment. Generally these loans can range from a minimum of $100 to a maximum of $750, although every company is different and some are authorized and willing to approve loans for over $1000. The fees that you are charged are normally based on every $100 that you are given. These fees are not taken until your next paycheck when the loan, plus the fees, are automatically withdrawn from your account. 

Low fee payday loans are given to those who need a little financial assistance to cover their expenses until their next paycheck. You may not necessarily get approved for the amount that you requested. Your approval for funds depends on a number of factors, the most important being the length of time that you have been with your employer. Generally, it is a rule of thumb that you must be with your current place of employment for at least a 6 month period of time. Loans can be given out if you have been there for a lesser amount of time, however you can expect a larger fee to be charged on top of your loan amount.