Same day payday loans are the fastest means of generating extra cash. With fast payday loans you can tackle all such situations where in cash is required urgently. They are unsecured loans that can be availed without placing any security against the loan amount. People suffering from bad credit history due to arrears, defaults, IVA, bankruptcy etc can also avail the benefits of quick payday loans.
These are advanced to people having regular source of income and full time employment. Also anyone who wants to apply must have a regular checking bank account and must be 18 years of age or above.
Amount and interest
You can borrow an amount that ranges from 100 - 1500. Loan amount depends upon the credit status and repayment ability. Repayment duration of these loans can be 2 - 4 weeks. Make sure to pay the loan amount on due time else lenders can take legal action against you. You can either pay by a post dated check or can allow the lender to automatically withdraw money from your ban account. Annual APR of payday loans is very high and that is quite obvious because they are short term and unsecured in nature.
Usage
They can be used for all such emergency situations that require money urgently. Like you can use it for paying urgent medical bills, electricity bills, paying debts, car repair and so on. Same day payday loans get approved within 24 hrs and hence are ideal for urgent needs.
Application
The best way to apply for payday loan is via internet. It is a lot faster and hassle free compared to the traditional method. Also you can use search engines to find lenders offering payday loans at competitive interest rate. With few clicks you can get the details of hundreds of lenders offering payday loans.
resource: www.ezinearticles.com
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