|Cost per $100 Borrowed:||$10|
|Financial Matching Service:||No|
|Time To Get Cash:||Next Day|
|Easy Of Use:|
Payday Ok / Payday One Review
Payday OK is a service that offers half price loans. It is considered as one of the best deals on the Internet. Before you deal with some returned check charges, late or over the limit fees, it is time that you check alternatives.
Payday OK can be a good service to choose, to come out of financial trouble. Your fee will be prorated by Payday OK if you are able to pay your balance without any delay.
There are four repayment options provided by this service. In case you do not get in contact with Payday OK with a repayment preference, they automatically deduct a payment of 10% of the original loan amount along with the finance charges due from your checking account. The loan amount then gets refinanced automatically.
Payday OK makes sure that personal information of customers gets transferred safely. It is SSL secured. Since there are a lot of lenders who use this service, you can check for encryption indicators like “https” in the URL and the padlock on the screen. Do not send personal information like your social security number through an email account that is not secured.
How It Works:
The application is easy to fill and no faxing requirements. Denial or approval is sent instantly and in case your application gets approved, your loan amount is deposited into your bank account on the next business day. Payday OK finances directly, depending on which state you living in or else they find you a federally insured financial institution in that state. There are various options for repayment:
- You can pay off your entire finance charges and loan on your next pay date.
- You can both refinance the loan and pay off the loan finance charges.
- You can also pay off the finance charges and part principal and get the loan refinanced.
- You can pay off the entire loan early and get prorated finance charges.
The cheapest rates are offered by this service. A fee of 10 dollars is charged for every 100 dollars that is being borrowed and that comes to an Annual Percentage Rate of 260.71% which is based on a loan for 14 days. On the annual basis, it is extremely high but certainly less than half the costs involved in other such services. The charges levied in the case of ‘non sufficient funds’ by Payday OK is approximately 25 dollars.