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Information presented in the MutualBank Resource Center is provided for educational purposes only. MutualBank makes no representations as to the accuracy, completeness, or specific suitability of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. MutualBank recommends you consult a professional for any specific guidance you are seeking.

Simplify Your Daily Finances

Pay Day Loans. Not Smart.

Millions of Americans turn to payday loans each year only to find that they can be a very costly way to get quick cash. No matter what they’re called – payday loans, cash advance loans, or deferred deposit loans –people end up facing fees that translate to interest rates ranging from 200% to more than 500%.

And many people end up paying more in fees than the initial amount of the loan itself. Watch the video below to learn more reasons why payday loans may not be the smartest option financially.

Payday Loans



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