- Apply For $50 – $1,000
- Fast Payout
- No Fees
- Secure Application
- Available 24/7
- Bad Credit
Nowadays, everything can be done on the internet, the information you can access are limitless. An average person spends 2-4 hours a day on the internet, and that should tell you enough. That’s why lenders are starting to pop-up online. Along with having a wider audience, they have less competition on the internet as well.
Are there payday loans online?
So what we’re going to talk about is, can you get a payday loan online? And if yes, what do you need to do.
We’ll start by discussing, what is a payday loan? Payday loans are known for having very high interests that can cripple the borrower if it’s not paid on time, and on top of that, it only has a small time window. Better think twice before getting one. There are other options. But if you really need the cash and is willing to take the risk, here’s how.
Find a legitimate company that offers payday loans. On top of a payday loan almost being a scam, find a company that won’t scam you even further. Things that you need to look out for when looking at a company’s website are their policies. Look for any hidden fees that the company might charge you for. See if the interest rates are reasonable.
Look for any reviews or ratings for the website. If you fail to find any, better move on and look for a more reliable lender.
When applying for a payday loan, you need to know your limit. Find out how much money you need and don’t borrow any more than that. Calculate how much interest you’ll be charged and set up a plan on repaying by the payment date. Once you’ve figured all that, it’s time to apply.
Things you need to know when applying for loans online
It’s best to have what you need for the application before filling out the forms. Requirements may differ from lender to lender, but these are the most common ones that they ask for.
Information regarding your bank account. They might ask you to prove that your bank account has been open for a while. Usually 90 days or more.
Contact information such as your phone number, email, and some ask for a billing address.
You must be 18 years of age.
Proof that you’re receiving a monthly or bi-weekly income.
Employers contact info.
When filling up, double check if you’re receiving the correct rates and policies. Go over the fine print and make sure you chose the correct state, as different stated vary in rates. Once you’ve done filling up the form, all that’s left is to submit and wait for it to be approved.
Do you want to get a payday loan online? Are you clueless about how payday loans work? Here’s a primer on how you can efficiently get a payday loan online.
How to Get a Payday Loan Online
One common misconception is that payday loans online are hard to obtain. This could not be farther from the truth. Unlike traditional loans where you have to physically visit a bank or lender to submit and process your application, payday loans online are done over the Internet which means it is less time-consuming and more convenient. Here are some tips on how to successfully get an online payday loan:
Look for lender matching online: It can easy to be confused since there are plenty of lenders websites online. If you don’t want to go through each lender website, you can go to a lender matching website. All you need to do is fill up a form so that you can be matched with the lender most suitable for your needs and situation.
Look for a reputable online lender: If you have time to spare, you can browse through the websites of various lenders. Use the online calculator, if available, so that you can have an idea how much the loan will cost you. Seek the help of relatives and trusted friends for recommendations on direct lenders, especially those that they worked with before.
Whether you choose to go to a direct lender or seek the services of a loan broker, remember to be truthful in the information you furnish. Supplying false information can jeopardize your chances of getting a payday loan.
Frequently Asked Questions
Must I Have A Guarantor?
Usually, lenders would require a guarantor for borrowers with poor or no credit history. A guarantor will serve as an added security if in case the borrower defaults on the loan. Since unsecured loans don’t have collateral, it is an added risk for lenders. However, if your credit is in good shape, lenders will often approve you without having a guarantor.
Is there complicated requirements I must provide?
No. The application process is simple and straightforward. All you need to provide is your personal information, proof of income, and employment verification. You also need to provide your checking account information where the money will be sent to. Other than that, you don’t have to provide any complicated documents or requirements to get approved.
How Fast Can I Have The Funds?
The entire process can be completed in as fast as 15 minutes. Getting the results of your application will only take a few minutes. So you don’t have to wait hours or even days to get approved. You can have the funds immediately and we’ll send you a notification once everything is good to go.
What If I Miss My Payment?
We understand that such things could happen. While some lenders may be lenient for one or two months, however, missing your payment could result in serious consequences. It could affect your credit badly and the lender may incur additional charges or fees as penalties for late payments.
You will receive the payment through direct transfers immediately to your checking account. Once approved, the money will reflect on your account within seconds. You will receive a notification once your application results are in.
Got questions? Let us know.