If you are between paydays and need some fast cash as a result of an unexpected car repair or medical emergency, your best option may well be a payday loan. Payday loans are available both is physical loan offices and on numerous websites on the Internet. It would seem that you can get the cash fastest from your local payday loan office, but that isn’t the case. As a result of the advances in technology, the fastest way to get cash is on the Internet. While it is true that neither location requires any collateral or a credit check, that is about the only thing that either lender has in common. The fastest payday loans are only available on the Internet. They are quicker, easier to obtain, much more convenient to obtain because you can apply for them from the comfort of your own home or office, and you will have your cash much faster that you’re your local payday loan office.
Payday loans are high interest, short term loans that are intended to be repaid by your next payday. They are high interest because they are short term and therefore considered high risk. They are usually for amount of between $100 and $1500. The application process for this kind of loan on the Internet only consists of a one page online form. Most payday loan lenders don’t even require you to fax them any documentation. Unlike the physical payday loan lender that will usually have your money from the loan directly deposited in your bank account the next business day, the payday loan lender with have your money from the loan electronically transferred into your checking or bank account that day and sometimes immediately.
Both lenders have the same eligibility requirements. You must have an active bank account, be a citizen, be at least 18 years old, be employed or have a steady income, and have at least one form of valid identification such as a driver’s license. While you are shopping for an Internet lender you should also shop for the one that has the lowest interest rate.
You also need to make sure that you can repay the loan on time. Most Internet lenders will give you an extension of time if for some reason you can’t repay the loan on time but the interest rate will be significantly higher for the time extension that the interest rate for your loan. This can be very expensive and cause you to have future financial problems.
You can find payday loans in local payday loan offices and on the Internet. However if you want a fast payday loan the Internet is your best option.
Author: Benn MitchellThis author has published 1 articles so far.