What Is a Payday Loan in India

Posted 2026-09-04 07:46:42

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A payday loan is a small, short-term, unsecured loan meant to be repaid on or shortly after your next salary date. It isn't a smaller version of a personal loan — it's a different product entirely, built around a different assumption: that your very next paycheck is the repayment source, not a multi-month EMI plan.

Also Read: What Is a Payday Loan in India

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