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									Tricks to Find payday lenders
Of course, you can simply find so many payday lenders out there. This is true if you are looking
for the ordinary providers. However, if you are looking for some banks or financial institutions
that can offer you great rates and terms, then they might be hard to find. This is because most of
them impose very high annual percentage rate (APR) that reach to 2,500%. While this is the
average, it does not mean that you can no longer find someone that can offer you something that
is more attractive than this rate.

As a matter of fact, in the midst of the negative reports popping out about payday loans and other
quick or instant loans, there are still some lenders that can be competitive enough to provide
decent types of loans with desirable terms and conditions. The following are just among the
tricks for you to find those good paydaylenders.

Get the Average Prescribed APR

First and foremost, you can determine if a lender is a good or competitive one if it can offer
terms, specifically APR, which are lower than the industry average. Usually, the central bank
(e.g. Bank of England), publishes the average APR of the industry as well as the maximum that
banks can impose. If the lender that you found is close to reaching the ceiling of the prescribe
APR, then that bank is not included in those good ones. As much as possible, find that lender
that is close or lower than the average of the industry.

Account for the Perks
Aside from the nominal terms, you must also account for the other perks that the lenders can
provide. Usually, it is not just about the money. For instance, some people think that good
paydaylenders should be able to provide them convenient platforms in order to diminish implicit
transaction costs. Specifically, maybe instead of spending for transportation cost and bank
charges in depositing payments for the loan, a good bank or lender should be able to have online
payment platform or automatic debiting.

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