Guaranteed Payday Loan: The Simplest Financial Solution
In most cases, we spend more than what we earn. Unexpected events, mishaps, or our desire for luxury products often lead us to a financial state where we realize we have no money left to cover our daily expenses. In these critical situations, the only solution is often to apply for a payday loan to help us to resolve this financial crisis. This type of loan is the ultimate solution to your current financial crisis because you do not have to go through all the typical rules and regulations and long application forms. In fact, guaranteed payday loans are tailored to offer you the perfect solution to your particular financial crisis. You need to have a regular source of income and an active bank account.
Some of the salient aspects of payday loans are described below.
When you are in dire need of money, you will certainly want to get yourself out of that position as fast as you can. In this situation, a guaranteed payday loan can really help you meet your financial requirements. You just have to provide all the necessary information to a cash advance lender and your application will be approved within 24 hours. You can also apply for an online payday loan as well, which takes less time and is not only convenient, but reliable as well.
Flexible Terms and Conditions
This is the major advantage of a payday loan. As cash advance loans are short-term by nature, the lender does not usually have a lot of requirements. You just have to repay the loan within the specified time period and that is all.
Loan Amount and Interest
You can borrow any amount between $100 and $1,000, depending on your needs. The rate of interest may vary according to the amount you borrow. Although a payday loan is secured against your next month’s payslip, it is actually an unsecured loan because the borrower does not have to provide anything as collateral.
You can obtain a guaranteed payday loan without facing any hassle. It does not matter if you are a good credit score holder or not because you can be approved for this type of loan despite having a bad credit score. However, the interest rate may vary depending on your credit score. Furthermore, you do not have to deal with paperwork right away, you can provide the required documents later. Since it is not mandatory to fax all the documents to the payday loan lender immediately, this type of loan is often referred to as a faxless payday loan. The minimum eligibility criteria for obtaining a payday loan are the following:
- You have a regular source of income;
- The borrower should be over 18 years old;
- You have an active checking or savings account.
Payday loans can also help a person maintain or improve their credit score by paying off the installments on time. This will certainly help the borrower stabilize their financial state.