Payday lenders across America charge exorbitant rates, capturing borrowers in debt traps
The map below shows the average interest rates that payday lenders charge for a $300 1-month loan.
Interest Rates Charged
36%
>600%
662%
662%
460%
460%
36%
36%
10000%
10000%
36%
36%
261%
261%
154%
154%
658%
658%
200%
200%
652%
652%
391%
391%
460%
460%
36%
36%
435%
435%
487%
487%
395%
395%
443%
443%
391%
391%
304%
304%
369%
369%
337%
337%
404%
404%
547%
547%
456%
456%
521%
521%
391%
391%
460%
460%
28%
28%
601%
601%
460%
460%
382%
382%
217%
217%
391%
391%
460%
460%
521%
521%
261%
261%