Interest rates

What is the interest on payday loans?

Payday loans are short-term, high-interest, cash advance loans. They often cover unexpected expenses like car repairs, medical bills, utility payments, rent, groceries, etc. Payday loans are also sometimes called “payday advances,” “cash advances,” or “short-term loans.” Sometimes, borrowers use multiple forms of credit to obtain a single payday loan. These include credit cards, bank accounts, […]

Interest rates

High Interest Rates Undermine Auto Sector Profits

Pakistan’s auto sector is facing headwinds, amid fears that high interest rates and the State Bank of Pakistan’s (SBP) tight regulations on auto finance will limit sales growth in 2022. As a result, the industry’s market capitalization has fallen 16% in the past four months (auto sector down 18 percent and trucks down 28 percent), […]