Glossary

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I have used other payday services in the past, but t3payday is definitely the best. Loan amount was quickly put into my account, and the payment is made on the date I agree to. The fees are also minimal compared with other payday loan companies. Thanks a lot for coming to the rescue at a needed time.
Lisa, FL

This service is so convenient and easy to use. Once you are approved and make your payments it is so simple to get another payday loan with t3payday.
David, NY

I got the money I needed quickly! I only had to wait several hours and then I had the cash in my account which stopped bank fees. Thank you so much.
Eric, LA

SOFTWARE

Also you can DOWNLOAD our GDS related software : Payday Loan Calculator.

This gadget will help you find out exactly how much a Payday Loan will cost you, by calculating the interest rates against the loan amount you are going to borrow.

In an effort to help you understand the payday loan process easier, we offer the following list of commonly used payday loan terms and their definitions.

Approved - Being approved, in terms of payday loans, means that you have met the criteria issued by the lender in order to get the loan.

Apply - The process of requesting funds from a payday loan lender. This usually involves providing the requested information to the lender through application forms. For example, your bank statement, social security number, account number, etc.

Borrower - Also referred to as Applicant, this is the person or group applying for a loan.

Cash Advance - Same as a payday loan, this is a provision of cash borrowed against the applicant's forthcoming paycheck.

Checking Account - The applicant's account with a banking institution. Lenders normally require the direct deposit feature on this account to be able to wire the funds directly into the account.

Credit Check - The process of reviewing information on the applicant's capability to abide to their financial responsibilities. Most payday loan lenders do not require this.

Credit Score – A credit rating report is a record of an individual’s past and present liabilities and documentation of the regularity of payments made on these liabilities. A credit score is a three digit number, typically between 300 and 850, that quantifies the individual’s credit history and their ability to repay their debts in a timely manner.

Direct Deposit - The common term used to refer to the process of transferring funds (making a deposit) into your account electronically.

Fax - This is an electronic device that allows a user to issue a recipient a copy of a document as it appears via a specialized phone line.

Fee - Payday loan lenders normally charge a fee against the amount borrowed; the higher the amount the higher the fee. It's considerably low compared to APR charges from credit card companies.

Lender – A company, agent, organization or individual that advances the funds to make a loan to a borrower or debtor.

Maturity Date – A maturity date is the scheduled date when the final payment amount, i.e. the principal amount and outstanding interest of a loan, bond or any debt instrument becomes due and payable.

Payday Loan - Like a cash advance, this is a loan taken out based on an expected paycheck that will cover the loan amount and the fees acquired with it.

Paycheck - The applicant's weekly, bi-weekly, or monthly salary that they obtain from their employers.