Well the question arises, why would the companies offer such schemes like free payday loan. The answer is that the companies design these offers to attract new customers, build trust and keep the business running. Such schemes will not only attract customers but also earn goodwill to the company that will benefit the company in the long run.
More customers’ means more goodwill and goodwill may turn into additional business for the companies. But these schemes are covered by strict terms and conditions which need to be adhered by the customers. Legit payday loans are best. As the scheme says free payday loans, they are free but only till the next payday.
And if anyone misses the date of payment or decide to extend or rollover it, then the borrower will have to pay the interest and other financial charges along with the free payday loan. For example, if the customer has borrowed about $500 and pays the loan entirely on the next payday, then he will have to pay only $500. But if the borrower defaults and decides to extends or rollover, then he will have to pay the loan amount along with the interest which is normally charged at $25 which means that for $500 the borrower will have to pay $625.