In Indonesia a payday loan is a loan initiated from an entity such as a loan store which is not a bank where a borrower takes just enough money to get through to his next payday after which the money is due and are sold to Indonesian who are usually poor or have difficulty to make ends meet each month.
In Indonesia, a payday loan consists of a short-term funding facility approved by an Indonesian payday lender for an Indonesian borrower who is short in cash and needs money until his has received his salary.
In Indonesia, payday loan amounts are usually very small and less and sometimes take as security postdated checks and charge a large fee for the loan putting the interest rate very high even higher than the initial loan amount.
In Indonesia, payday loan is easy to apply for and therefor make some Indonesian borrowers addict to this financing option not being aware of the fact that this border line business makes profit through the fees and the fact that many of the borrowers always return.
PERSONAL LOAN MORTGAGE CAR LOAN STUDENT LOAN LOAN COMPARATOR P2P LOAN LOAN APP CROWDFUNDING MICROFINANCE CREDIT CARD PAYDAY LOAN PAWNSHOP LOAN LOAN SHARK ISLAMIC LOAN LEASING BAD CREDIT MOTORCYCLE LOAN LOAN CALCULATOR LIST OF P2P LENDERS WITHOUT INTEREST LOAN FOR FOREIGNER NO CREDIT CHECK LIST OF BANKS