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Comparison shopping for a payday loan online is a fairly easy process. The necessary information to make a comparison is usually readily available and the ability to search online as opposed to making phone calls or visiting lenders greatly simplifies the process. Borrowers should compare factors such as interest rates, fees and specific requirements to determine which payday loan is most favorable. The interest rate associated with payday loans should be carefully considered because higher interest rates can result in the borrower paying more in the long run. However, application fees should also be carefully considered. The borrower should determine the total cost to repay the loan, including all of the applicable fees and the total amount of interest required to repay the entire loan, and use this information to determine which payday loan is the best deal.