Fees for Loans. Is It Possible to Get a Loan with No Fees?

Lending companies facilitate the life of borrowers with bad credit providing the option of payday loans with no additional fees other than the interests. This “no upfront fees” choice become so enticing for the people unable to get a loan before that many fall for it blindly without any additional checks and analysis. Isn’t it naive to believe so openly to everything written in an ad? Be a pro, or at least, pretend to be a pro, and learn how to calculate.

Fee Calculation Method for Payday Loans

Unfortunately, there isn’t a fixed method for doing clear calculations standard to every company. Oppositely, each venue evolves its own strategy to count payday loan costs, weather with or without upfront fees option. Some fix the loan percentage and charge only the figures written in your contract. Others decide on a flexible option to count the amount depending on payback time. Not everyone can afford this fee though and choose the loans with no fees option. Tricky it may seem, still payday loans for with no fees do exist, but with a little remark. No additional fees suppose huge stated rates and interests accordingly.

Conditional Fees for Bad Credit Borrowers

While there may be no initial charge for you, when you first get to know your lending company, and they’re trying to establish good rapport with hopefully a new client, that doesn’t mean you you’re exempted from paying additional interest in future. There are always some unexpected issues clearing your account a bit earlier than you expected. Remember, all these adds are optional.


There’re cases when your lending company charges the cost of insurance. Actually, this is the insurance they cover all their loans, but you’re the one who pays for them.

Late payment

Of course, your penalties for late payment can’t become optional, saying nothing of the late payment itself. If you control the situations of your payday loan, no extra fee is ever added to you payment.


In the extreme case of delinquent behavior, you’ll have to deal with unfavorable results; either legal procedures or severe penalties are there to destroy the bad credit of those who choose to deteriorate it to the lowest point.

Payday Loans for Bad Credit with Zero Fees

There are some companies that do actually provide loans with absolutely no fees attached to the loan. However, it’s more of a trick rather than a real deal. For the period is very short (24-48 hours at most), and if it goes beyond the limit, the rates do exactly the same. Your fee becomes unlimited, and still you will have no guts to claim it unfair. They actually suggested you money for free, didn’t they.

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