There are millions of Americans who have just realised that there is another way to manage unforeseen expenses, besides raking up huge credit balances on their credit cards. This is the cash till payday loan. The concept is not new. You could always take a cash advance from someone who would charge a few extra bucks for the favor, but modern electronic systems have taken the embarrassment out of a cash advance.
Totally Hassle Free
The great thing about a payday loan is the fact that the red tape is ruthlessly cut away and you are sure that help is at hand immediately. There are certainly some requirements to be met, before you can qualify for a cash advance, but the requirements are minimal and practically anyone meets these. You have to prove that you have a job ($1000 per month) or a regular income, have a checking account in a bank, are a US citizen and are over 18 years of age.
The savings account payday loan (so called because it is credited straight to your savings account) can be with you in 24 hours, often lesser, since most of the approval process is software driven. Only in rare cases, does a cash advance officer actually go through your documents.
Cash Advance Charges
How much will your one hour payday loan cost you? Typically, if you borrow $200 for a week, you may pay $15 to $30 extra as the cost of the loan. If and the word to watch is if you were to keep this loan for a year, you pay a prohibitive amount as interest. But, it is not called cash till payday loan for nothing! After all, if you are really in a crunch, what is an additional $15 to you? Let us tell you upfront that the APR rate (the annualized interest rate) on a payday loan can sound daunting, but you would never keep this sort of a loan beyond your next payday anyway.
What if you are unable to repay your cash advance in time? To begin with, the amounts are generally small and most people have no difficulty clearing them, but should you have any difficulty, then the loan can easily be rolled over. There will be a charge of course, but people tell us that if you don’t do this often, then you may pay lesser than you would if a check bounced.
The one hour pay day loan has been used so frequently by so many Americans that it has spawned a new financial industry. Even large banks have realised the potential of the ultra short term loan and have begun to offer such loans themselves. While no one would willingly take on debt, sometimes it is in-escapable. Cash till payday loans offer you a helping hand, should you ever need one.
Cash till payday loans give wage earners a respectable alternative when a sudden money crunch arises. Easy procedures and rapid disbursement of savings account payday loan offers straightforward and friendly support. If payday is approaching and you are short a few bucks, one hour payday loan is the way to tide you through. To know more and to get free quotes visit payday cash advance.
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