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The law provides that a contract of personal loanĀ or payday loan shall contain the following elements: The interest rate charged; Any other price and terms offered, including higher charges in the event of default; The amount and modalities of financing; The number, amounts and maturity of the individual rate; The annual percentage rate (APR); [...]
The payday loans or payday advances is a product of consumer credit, which provides funding for a fixed sum at a fixed rate of interest and repayable in accordance with a planned duration of a rate constant. The payday loans or payday advances are a fixed-rate financing, with a depreciation rate constant normally be reimbursed [...]

