Life is an undulating road; it is not a smooth ride. There can be days of financial distress too when you fall short on cash. There are moments in life which you don’t want to slip away, you want to taste and feel, what they are like. There are many instances in your life when your heart overpowers you brain and those are the ones that you always remember. Maybe it is going to a holiday to a much desired place or buying for your partner a much coveted gift which he always longed for, maybe it is to drive down to your mother’s place. All these bring pristine happiness to you and to your loved one’s face. You live and love the moments but then you realize that you used the money meant for paying the rent and the bills. Then the idea of payday loan floats across your mind.
payday loans with monthly payments no credit check
It is a loan that can be availed against your paycheck.
Who all are eligible?
Anyone who is of minimum 18 years of age is entitled for this loan.
You just need to be an American citizen with regular income of atleast 1,000.
It is available both in Front store and online.
You can visit the store in person and fill the form, you are required to fill the personal information like Social security number, address etc. along with the employment information and you need to show the last paystub. Once the information is cross checked, you are sanctioned the required amount.
Online Payday Loans
To avail the loan online is very easy and some of payday lenders
provide this facility round the clock because they are well aware that this loan is taken because of emergency and emergency has no schedule to keep. It can strike at anytime. Imagine it is Sunday morning and you are spending time sitting in balcony sipping at coffee and munching the news, all of a sudden you get a call from your mom, who sobbingly tells that your father has been rushed to the hospital because of stroke, by listening to this you go numb and chill runs down your spine. You gather yourself, muster up courage and scroll the phone for the online loan lenders
. After comparing rates you fill the required information, personal as well as related to the employment. Once the lender verifies , he reverts and asks for the payday account number. The required money is transferred and pinged to you. On Sunday getting loan at home that too when required, is a great deal.
Why Payday loan is popular?
Speed is one thing that makes it popular among all. There is more to it besides speed that has added to its popularity. It does not require any lengthy forms to be filled, it does not require collateral, it does not require good credit history. What else does one want?
A word of Caution
Once the loan has been sanctioned ensure it is used for that purpose only otherwise that purpose will keep lurking in the form of guilt in your mind.
Be strict with yourself and be frugal while using money. You need to pay the installment well in time.
Installment Payday Loan comes with very heavy Annual Rate of Interest, APR.
It can touch 600% . In emergency sometimes you need to pay through your nose. There are very few people who take loan are able to repay it in a month’s time so it end up as rollovers. The loan gets spread over to months with ever increasing rate of interest. The cost of payday loan at times exceeds the principal money borrowed. The interest keeps on adding. Suppose you have borrowed $100 at the rate of 17.50%, the rolling over will cost the principal amount plus the rate of interest plus the fee. Eventually the payday loan with rollovers for months comes out to be very expensive. You can think of borrowing money from your friends .
The word payday brings smile on your face; yes you get the fruit of the slogging done throughout the month.