Loan Shark Rates
One of the most important things to consider when getting a loan from loan sharks is the loan shark interest rates. This will determin how much you have to pay back. In this section we will give you some indications of what some of the loan shark rates are
Interest Rates
Interest rates from loan sharks are mostly calculated in weekly basis. The loans are for short term use only and will have high rates
High Interest Rates
Due to high risk most of the loan sharks will have high interest rates. Loan shark rates starts from 500% and can go upto 2000% per year
Borrow What you can Payback
When getting loans from loan sharks make sure you only borrow what you can payback ONTIME otherwise you will incur very high rates and fees.
Loan Shark Interest Rates
These are some of the New Zealand loan companies that offer loans to people with bad credit. The loan shark interest rates are high but when you need money and have no other choice then these are the only options left. When getting loans from loan sharks its good to take short term loans and pay it on time
- Ferratum
Interest rates to get personal loans from Ferratum starts from 29% per week. e.g. if you borrow $100 you will have to pay $129 at the end of week.
Interest rate and fees works out to be 1500% of the initial loan amount
- Seed Cash
Interest rates to get personal loans from Seed cash starts from 32% per week. e.g. if you borrow $100 you will have to pay $132 at the end of week.
Interest rate and fees works out to be 1660% of the initial loan amount
- Payday adv
Interest rates to get a loan from payday advance starts from 27% per week. So if you take out a loan from payday advance you will have to pay $127
Interest rate and fees works out to be 1400% of the initial loan amount
Loans
Before getting any loan make sure to read the terms and conditions of the loan agreement. Find out the actual interest rates and true cost of the loan before applying for the loan.
“Only borrow what you can payback”
