This is not the ideal situation, but unfortunately, at some points in life, it may be necessary for resort to a payday loan. There are a number of ways to borrow money, as well as banks and financial institutions that can lend money. Despite the apparent ease of getting a payday loan to reduce the risk of winding up in the future, it is important to look at options, giving preference to those that charge lower interest, such as payroll or pledge, as well. how to see the fee that is charged by the bank and / or financial institution. Here are the types of loans you can get and which banks you can apply for a payday loan:


Main modalities of payday loan

personal loans

Payroll Loan

In this mode, installments of the payday loan are directly deducted from the payroll of the borrower. Among its advantages is the interest rate charged, which is lower compared to other types of credit. Also, as the portion is directly discounted from the payroll, there is no risk of forgetting to pay the amount due. However, payroll-deductible loans are not available to everyone: you must be an employee, retired, pensioner or work in a company offering this option. o for your employees.

Payday loan with pledge

Anyone who needs a fast credit or has a dirty name on the beach has a valuable asset, such as jewelry, can opt for the pledge. This mode does not require credit analysis or the presence of a guarantor, however, it is important to be aware of the cost of the pledge that, as with any type of loan, has built-in interest and fees. .

Payday loan with overdraft

Personal loan with overdraft

Borrowing money by overdraft only has the advantage of ease as the money is available in the checking account. However, resorting to this method can be a trap: the interest charged is among the highest in the market. In addition, it is common for people to get used to using overdraft money as part of their salary which, even in the short term, can have catastrophic consequences due to the high fees charged.

Payday loan with revolving credit card

It is also possible to get a payday loan by drawing on the credit card. As with overdraft, the only advantage is ease. The amount can be withdrawn from any ATM. However, the interest rates are very high, which does not make using the rotary card a good business.

Payday loan with banks and financial institutions

In addition to the above, it is possible to borrow directly from the bank or financial institution. In some cases, however, this modality is restricted to checking account holders and credit analysis.

Which banks can I apply for a payday loan?

personal loan

There are several banks and financial institutions offering payday loans. Virtually all major banks. Below are the rates charged, according to the Best Bank, for unsecured personal credit at major banks and institutions: