Have A Short - Term Cash Need? – Get A 30 Day Payday Loan
When you think of the word ‘loan,’ thoughts of a long repayment term and a huge sum of money come to mind. What do you do when you want a small amount of money, really quick and without any hassles? Just think – 30 day payday loan.
A payday loan, also called a cash advance, is available in many formats. It is a temporary, unsecured loan that you can borrow to tide you over for your urgent financial need and then conveniently repay on your next payday.
Here are the features of this wonderful loan option.
1. As you can understand from its name, the 30 day payday loan provides you cash for 30 days, that s, until your next month’s payday. You need to repay the advance within 30 days.
2. The qualifying criteria are simple. You have to be over 18 years of age, have basic employment and American citizenship. You have to fax the proof of these to the lenders. However, there are also some lenders that do not require any faxing of documentation. If you are in a hurry to get the money, you can approach such lenders for a no-faxing payday cash advance.
3. The loan amount is in your account or given to you by check within 24 hours. However, to get a fair deal, you must do some comparison shopping and negotiate for flexible repayment terms and low interest rates.
4. In most cases, you can repay half the 30 day payday loan within the first 15 days and the rest of the sum at the end of 30 days. This division of the loan into two installments helps to make the repayment easier.
5. The interest charge ranges from $15 to $30 for every $100 borrowed. Since that is a lot of money, you must never extend the loan, as any roll-over can double or even triple the interest charge.
6. You need to submit documents like bank statements and other identity proof. You must make sure that you have the necessary documentation at hand to complete the application procedure in a speedy manner.
7. As no credit checks are done for this advance, you can apply for it even if you have a bad credit score. However, if your credit rating is good, you must let your lender know about it and negotiate for a lower interest rate, citing your good rating.
8. If you make a timely repayment the first time around, the lender will gladly give you another 30 day payday loan next month. Nevertheless, borrowing is not a good habit. A few lifestyle changes can teach you to live and spend within your means and save for a rainy day as well.
