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payday loan - definition and synonyms

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noun [countable] payday loan pronunciation in British English
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singularpayday loan
pluralpayday loans
  1. 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
    Fill out our short application form and your same day payday loan could be in your account in a few hours.
  2. From our crowdsourced Open Dictionary
    2
    a loan that someone takes out for a very short time, usually until the end of the month when they will get their paySubmitted from United Kingdom on 03/02/2011 11:51:00

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