Instant cash loans have grown in popularity these last few years. These loans are given out on a short-term basis, which is why they are often called payday loans. There are many benefits that fast cash loans offer, and the top ones are:
Cash Within 24 Hours
You can get cash within 24 hours. Even if the lender doesn’t deposit it within a day, you’ll typically have access to your cash much sooner than you would if you applied for a loan with a traditional bank. Don’t worry though because most fast cash loan lenders will get your money to you within a few days, at tops.
Easy Criteria To Meet
There is no stringent requirements in order to be approved for an instant cash loan. You usually need a job/income and be at least 18 years of age. Credit is not an issue and past credit history is no problem. If you have credit problems, but need cash fast, then apply for a fast cash loan. The chances are you’ll be approved.
Various Amounts
You can apply for a very small amount, such as around a hundred dollars. You can even apply for a large amount of up to a thousand or an amount that falls in between. How much you can apply for depends on the company you’re applying with.
Do bear in mind that how much you’ll be approved depends on various factors, including whether or not you’re a new customer. Many companies do have loan limits.
Loan Limits Can Increase
Loan limits can increase. If you’re a new customer and you only get approved for a small amount or an amount less than what you applied for, then don’t worry. As long as you pay the loan back in time and stick to the repayment schedule, the chances are you can apply for more as soon as your loan is paid off.
Easy Repayment Plans
Another benefit is the repayment plans. You’ll know how much you’ll pay back, how much your payments will be and when the payments are due. Most companies will debit your bank account on the date the payment is due. This means you don’t have to do anything. Just make sure you have the cash in your bank to cover your payments.
Use Cash For Anything
Finally, an instant loan can be used for anything you desire. Let’s face it, sometimes you need cash now to do things such as get your car fixed or to pay for a medical emergency. However, you can use the money to go shopping, out to eat or to pay for a vacation. These are only a few examples of how you can use the funds from this type of loan. You are completely free to spend the money as you wish.
If you’re short on cash or you need a loan, but you don’t want to head over to the bank to apply for one, then an instant cash loan is worth trying to get. As you can see from the above, there are many benefits they offer.
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