Payday loans are becoming quite popular these days, so it is important to know what it really is. If you are cash strapped and in dire need of money urgently then you can apply for payday loan. You will be issued the loan much quicker than regular lenders. The catch behind it is that you have to pay higher amount of interest as compared to other loan givers.
If you are really in need of a payday loan then you should apply for payday loans. It is important to go through the loan agreement thoroughly before singing the papers. It might be so that you agree to pay extra fees or charges apart from the high rate of interest. When you are taking a payday loan then you will be asked to give a post dated check in lieu of the loan amount. The lender will hold the check and will get it cashed on an agreed date.