Do you need money for a mortgage, buying a car or even paying your medical bills? Well, you are not the only one. There are millions of people who are running short of money and are in a high need for fast loans. Many of us can’t afford such things as buying property or a car but we still need to. So here are different ways or places from which you can get borrow money from with no store visit.
One of the best alternatives to national banks is credit unions. These institutions are lending money to local business or small scale business. The interest rates of banks are quite high, on the other hand, credit unions offer a lower rate of interest which is a plus point. There are some degrees of flexibility when you borrow from credit unions.
Online Money Lenders
Now with the advancement of technology, you don’t have to visit a store to get a loan. You can even request for a loan just by sitting at your home with just one click. Everything is under your fingertips. These are fast online money lenders which gives you the loan the very next day. All you have to do is send them the required information and wait for the approval. It is also a better alternative to national banks as even if you have poor credit, you can borrow money. But be aware as some online lenders might charge insane rate of interest.
Now suppose you need hard cash to pay your medical bills, but you don’t have that much of liquid money with you. So what are you going to do? Thanks to credit cards! Having a credit card has several benefits, you can easily go to the ATM and request for a cash advance and you will get access to hard cash within a few seconds. The only con for credit cards is the interest rate gets quite higher than the purchase rate.
Peer to Peer Loans
One of the online lenders that have got a lot of popularity these days is the peer to peer lending. You have to apply for a loan and pay interest and the balance back to the lender. The major reason to go for peer to peer loans is they charge a very reasonable rate of interest. So borrowers from different wage group find this quite attractive. Within 3 to 5 years you have to pay back the amount. So if you are looking for a loan that you can pay off quickly, go for this.
Do you want to buy a car but don’t want to take a bank loan as the bank processes are too long? Well, these days businesses that sell expensive items can give you a loan too. Take for example a car company; it will give you an instant loan to buy the car from its company to compete in the market. Most large scale retailers like TV, computer, furniture offers instant loan to buy the product. Sometimes these lenders also offer no interest rate deals to stay in this competitive market.