Annual share rate (APR): Interest and lender fees you pay to borrow money. Because of this, payday loans will not be authorized in your state If they are, you could have to pay an APR well above 300%. And, of course, that is typically on prime of other debts similar to auto loans, mortgages or student loans. Cheque cashing If you should money a cheque, it might probably take three days to clear it with a bank.