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Fast Cash in 3 Easy Steps
Fast Cash Personal Loans
Fast cash personal loans are a combination of the benefits of both personal loans and fast cash loans. Fast cash personal loans are small amount, short-term loans that are provided to employed people. These loans are approved with out any credit check, and are directly deposited into the borrowers’ accounts. These fast cash personal loans are required to be repaid on the next payday. Fast cash personal loans can be taken as either secured or unsecured loans.
Approval of the loan amount is usually given without delay. The loan amount is deposited to the borrower’s bank account within 24 hours. These loans are also known as payday loans, implying that the approval comes for 14 days only, until your next paycheque. You can repay the loan when getting the next salary cheque or the repayment can be made after few weeks also once you have made the interest payments.
The fast cash personal loans with bad credit stipulate the process of availing funds into two stages: secured and unsecured. Secured and unsecured are the two sides of the same coin and provide loan with or without pledging collateral, respectively. The loan amount that you can borrow depends directly upon the two options you choose. Whereas concerned about the reimbursement term, secured from graces it from 10-25 years and unsecured loans extend it from 1-10 years.
A payday loan is like a personal loan, but has some important differences.
Installment Loans – An installment loan is one where you receive the loan amount in one lump sum and then make regular, set payments until the loan is paid off.
Revolving Credit – A credit card is different than an installment loan because you can borrow less than your approved amount at first and then more later. Also, you always have the option to borrow more money as long as there is room available in your credit line. A credit card is considered a revolving line of credit.
Most people get payday loans to take care of some sort of emergency that has arisen, such as for getting their car fixed, or for medical emergencies, or for covering a check that otherwise might bounce.
The interest rates are relatively high – they can range anywhere from 10% to 30% of the amount of money you want to borrow. And that’s just for the term of the loan.
What that means to you is that if you cannot repay it within the required amount of time – 2 to 4 weeks, depending on your lender – you will have to borrow the money again and pay an additional 10% to 30% every time you do that.
Fast Rate Comparison
Not only are the application and cash advance processes fast, shopping is quick too. Most payday lenders list their fees and APR on their websites. You can research a dozen offers within minutes. If you can’t find information on fees, feel free to contact the lender through email or over the phone. Most will get back to you immediately.
To receive your fast cash personal loan, you will present a post dated check to the lender. The lender will hold your check for period of time that both of you agree upon, and deposit the post dated check on the date specified in your loan documents for payment. All fees and interest will be included in the total amount that the check is written for.
Online lenders are a great source of fast cash personal loans, often written at reduced rates of interest. Check online before you apply to find lenders who offer specials for both first time customers and repeat borrowers.