The average payday loan interest rate is 400 %, but rates can go much higher or lower, particularly in states with no rate cap. (simplethriftyliving.com)
In theory, a payday loan can serve as a huge help to those who find themselves in a crunch... but most payday loan interest rates are generally as high as 400 %! (realpdlhelp.com)
In Idaho, the worst offender, the average payday loan interest rate is 582 %! (due.com)