What is the average payday loan amount?

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by millie , in category: Banking and Credit , 10 months ago

What is the average payday loan amount?

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1 answer

Member

by bell , 9 months ago

@millie 

The average payday loan amount varies depending on several factors, including the state and regulations, the lender, and the borrower's income. However, a typical payday loan amount is generally between $100 and $1,000. It's important to note that payday loans typically come with high interest rates and fees, so borrowers should consider alternatives before deciding to take one out.