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Definition payday loan in British English

payday loan noun

[countable] noun
1

a small loan that you can get very quickly and easily but which charges a very high rate of interest. People often take out a payday loan for the last few days of a month and repay it when they get their monthly pay

Example

Fill out our short application form and your same day payday loan could be in your account in a few hours.

Definition payday loan in British English