Payday loans can have fixed or variable rate of interest throughout the repayment term. Most types of unsecured short term loans have fixed or variable interest rates. You may choose a fixed rate or a variable rate. Most lenders will offer you either one. Almost no lender will give you an option to choose. This is regardless of how you apply for payday loans. When you use Payday Pug to get quotes, you will have lenders offering fixed rates and some will offer variable rates.
It is a given that a variable rate of interest can fluctuate during the repayment term. However, it may remain fixed. It depends on the lender and the policy it has in place. Variable rates can get reduced but that is in theory. Lenders often increase the variable rates. This may not be subject to negotiation. What may be negotiated is the rate of interest on payday loans during extended terms. An extender term for any type of unsecured short term loans is the period of time you have after the end of the original repayment term if you fail to repay the entire loan amount with the interest within the specific time. Not all lenders will offer you extended terms. Some may simply allow you a few days to repay the remaining amount.
In the event you get an extended term, say a month or a few weeks, you should know the rate of interest that would be levied during this period. It is possible the rate of interest will remain the same as the one on your original loan amount through the initial repayment term. The rate may be increased. You should try and get the best deal from a lender. No lender would be obligated to reduce the interest rate but they can keep the rate unchanged.