What are payday loans and how to make the best of them?

What are payday loans?

How are payday loans different from other kinds of loans?

Eligibility

Repayment model

Limit on the amount that can be borrowed

Ease of access

Why do people shy away from payday loans?

Fear of entering a vicious cycle

Fear of default due to delayed salaries

Reasons why you may need payday loans

Emergencies:

Short term cash needs:

When you should never take a payday loan

Do you need a payday loan?

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