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Definition of payday loan noun from the Oxford Advanced Learner's Dictionary

payday loan

noun
 
/ˌpeɪdeɪ ˈləʊn/
 
/ˌpeɪdeɪ ˈləʊn/
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  1. a small amount of money that somebody borrows for a short time at a high rate of interest, agreeing that they will pay it back when they receive their next wagesTopics Moneyc2
trait
noun
 
 
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