Tricks to Find Payday Loan Lenders Of course, you can simply find so many Payday loan 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 highannualpercentagerate(APR)thatreachto2,500%.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. 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 h atank i snotincludedinthosegoodones.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 Payday loan lenders 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.