In short: Payday loans hurt a household budget because their cost lands every month while the debt itself does not shrink. In an illustrative case, a ₹20,000 app loan rolled over each month costs about ₹8,000 a month in fees and interest, which is roughly what a family on a ₹45,000 salary might otherwise save. … Continue reading 10 Ways Payday Loans Hurt Your Household Budget in India