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There are many kinds of loans offering for the customers like us these days. For example, payday loan, house loan, car loan, debt consolidation loan, cash advance service, personal loan, secured personal loan and a lot more. But for each loan, they all have different rate of interest. Don’t think that a bit different rate means nothing because every point after digit costs money. It’s little money but if sum them up together at the end of the year, it costs a lot still
For the loan which charge the highest interest rate is payday loan or any loans which can approve you within a day. The faster you get the money approval, the more you have to pay on interest rate. So I warn you to think hard enough before you make a loan. If you don’t need money that urgent, avoid the loan with the high interest rate but better to wait for a little while to get approve but with low rate of interest.
