Low Fee & Low Interest Payday Loans

Looking for a low fee payday loan? Hot Payday charges a flat fee of just $15 per $100 borrowed with a varying A.P.R. based on the number of days outstanding. There are absolutely no hidden fees associated with our no credit check loans for you to worry about. For instance, if you take out a $100 loan, the amount due on your next payday is only $115. Hot Payday makes the process of getting a low interest payday loan very simple.
Although these no credit check payday loans are for short-term needs, various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage Rate (APR). Because the fees are fixed per loan amount, the APR will vary depending on the number of days that pass between the date you receive your loan and the day your loan is due. Please refer to the Fee Schedule below to find the appropriate rate for your same day payday loans.

Cash Loan Fee Schedule
Term in days	Annual Percentage Rate	Amount Financed
		$100.00	$200.00	$300.00	$400.00	$500.00
		Finance Charge
7	782.14%	$15.00	$30.00	$45.00	$60.00	$75.00
8	684.38%	$15.00	$30.00	$45.00	$60.00	$75.00
9	608.33%	$15.00	$30.00	$45.00	$60.00	$75.00
10	547.50%	$15.00	$30.00	$45.00	$60.00	$75.00
11	497.73%	$15.00	$30.00	$45.00	$60.00	$75.00
12	456.25%	$15.00	$30.00	$45.00	$60.00	$75.00
13	421.15%	$15.00	$30.00	$45.00	$60.00	$75.00
14	391.07%	$15.00	$30.00	$45.00	$60.00	$75.00
15	365.00%	$15.00	$30.00	$45.00	$60.00	$75.00
16	342.19%	$15.00	$30.00	$45.00	$60.00	$75.00
17	322.06%	$15.00	$30.00	$45.00	$60.00	$75.00
18	304.17%	$15.00	$30.00	$45.00	$60.00	$75.00
19	288.16%	$15.00	$30.00	$45.00	$60.00	$75.00
20	273.75%	$15.00	$30.00	$45.00	$60.00	$75.00
21	260.71%	$15.00	$30.00	$45.00	$60.00	$75.00
22	248.86%	$15.00	$30.00	$45.00	$60.00	$75.00
23	238.04%	$15.00	$30.00	$45.00	$60.00	$75.00
24	228.13%	$15.00	$30.00	$45.00	$60.00	$75.00
25	219.00%	$15.00	$30.00	$45.00	$60.00	$75.00
26	210.58%	$15.00	$30.00	$45.00	$60.00	$75.00
27	202.78%	$15.00	$30.00	$45.00	$60.00	$75.00
28	195.54%	$15.00	$30.00	$45.00	$60.00	$75.00
29	188.79%	$15.00	$30.00	$45.00	$60.00	$75.00
30	182.50%	$15.00	$30.00	$45.00	$60.00	$75.00
31	176.61%	$15.00	$30.00	$45.00	$60.00	$75.00

Payment Options

All cash loans are due on your next payday. The number of days a cash loan can be taken varies between 7-31 term days. On your next payday, you are entitled to these following payment options:

- Allow Hot Payday to automatically withdraw the amount due from your bank account. We will notify you via e-mail 2-3 days prior till your due date.

- You are also allow to make partial payments to your loan and have the remaining balance rollover/extend till your next payday. (subject to a finance charge of $15 per $100 borrowed for each rollover; maximum rollover/extension is 12 weeks).

Prepayment of Your Cash Loan

Prepayment: If you pay off your cash loan early you will not have to pay a prepayment penalty, and you may be entitled a refund of part of the finance charge. For instance, if you have a $115 cash loan outstanding for 14 term days with an APR of 391.07% and decided to pay off your cash loan on the 7th day, then you are entitled to a $7.50 refund because the finance charge of $15 is outstanding for 14 days and you paid it back in 7 days which is only half the term days and thus half the financing charge.

Early Full Payment Prorated Refund Formula:

(days left on term of loan/actual term of loan)X(Finance Charge)=Prorated Refund

Early Partial Payment Prorated Refund Formula:

(early payment amount)X(days left on term of loan/actual term of loan)X(.15)=Prorated Refund

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