The typical cash advance for the 2023 are $375, according to Pew Trusts. The average interest otherwise financing charges due to the fact pay check lenders make reference to they for an effective $375 loan is between $ and you can $75, with respect to the terminology.

The attention/funds costs typically are anywhere between 15% and you can 20%, with regards to the lender, but could become higher. Read more “What takes place If you’re unable to Pay back Pay day loan?”