#1 hour payday loans #1 #hour #payday #loans

1 hour payday loans

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Payday Loans – Cash Loans

A payday loan is a short term loan that is best used to cover urgent financial expenses like paying a bill, paying for repairs to your home or car or you might just need some extra cash before your pay check comes through. Whatever the reason, an application can be competed in minutes because they are designed to be a fast and easy way to get a cash advance, often on the sameday. These types of loans are paid back in full plus interest on your next payday and are not the answer to any long term financial difficulties. You can be eligible for a payday loan even with a poor credit history although the exact amount you can borrow might depend on your credit score. With payday loans becoming such a popular financial product there are many loan providers out there.

If you wish to speak to someone: Contact Us

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

Amount you can borrow

Minimum borrowing period

Maximum borrowing period

ID REQUIRED

Identification required to apply

Applicants the loan is suitable for

Terms and conditions of loan

RESTRICTIONS

Restrictions regarding potential borrowers

Wonga

Identification

South African ID Number; cell phone (to receive a PIN)

For those seeking a short term financial solution to a short term cashflow problem

South African ID number,over 18 years, employed and a bank account in your name

Restrictions

You must be employed and have a South African ID number in order to qualify. You must be over 18 years old and have a bank account in your name

Short term credit provider

Advantages

Disadvantages

1. Our service has an annual interest rate of 60%, in line with the regulations set out in the NCA, But remember a Wonga loan is only for between one day and a month – so actually you’re paying just 0.164% interest a day

Get Bucks

Identification

Initially South African ID number, employment and residential details.

For South African residents with all credit backgrounds looking for a solution to a short term cash flow problem

You must have a Bank Account and be a South African resident

Restrictions

You must have a Bank Account and be a South African resident

Payday Loan Lender

Advantages

1. Borrow any amount between R500-R4000

Disadvantages

1. There is an initiation charge for each loan to cover the service delivery promise of being effective and fast

SA Payday Loans

Identification

Initially residential and financial details

For individuals looking for a fast cash loan of up to R15000

See website for details

Restrictions

Not available if you are self employed

Advantages

Disadvantages

Not much information provideid before application

If you wish to speak to someone: Contact Us

Related Payday Loans Products

Compare Payday Loans and Cash Loans

Payday loans have been heavily criticised but can a payday loan ever be the right solution?

The truth about Payday Loans

Payday loans are everywhere these days and the industry is booming but what is a payday loans?

Payday loans are small loans where no credit checks are required. This means that whatever your financial history you are likely to be approved. Payday loans have short terms and must be paid back quickly, usually on your next payday, hence the name.

Payday loans are a fast way of getting emergency money. You can apply, get approved and have the money in your account often on the sameday. Some lenders can even get the money to you in as little as 15 minutes! They are designed to help you cover your expenses until your next paycheque.

Why are Payday Loans so popular?

An increasing amount of people are turning to payday loans to help them make ends meet. Payday loans can help you cover an unforeseen expense such as household bills, home repairs and buying essentials like petrol, food and travel.

With no credit checks the loans are very accessible. The only requirements are usually that you are over 18 and have a South African bank account. The application process is easy and fast and can take only a few minutes to complete. You can get the money you want from the comfort of your own home either online or with some companies via text.

Are Payday Loans as bad as they say?

Payday loans can be very costly and are a more expensive than other methods of borrowing. This is because the interest rates are very high as these are unsecured loans which can be given to people with bad credit ratings. However, they are designed for short term borrowing so if you do decide to take one out you need to be responsible and pay back the amount plus the interest as soon as possible.

If you miss payments you can quickly fall into a debt problem. This is because the fees and charges that come with late payments can be expensive and can easily accumulate. Not only can you fall into debt but you also risk damaging your credit score which will be used against you.

Remember that payday loans are for short term borrowing and should never be used to solve any long term financial difficulties you might have.

Is a Payday Loan right for you?

Payday loans can be a good solution for quickly and easily borrowing cash during an emergency if you don’t have other financial options such as credit cards or savings account.

Treat payday loans as a last resort.

Finding a Payday Loan

As payday loans are so popular there are many lenders vying for your business. It is definitely worth taking the time to research the market to see what is on offer. You can use the table above to find the right payday loan for you.

It is important that you read the small print on a payday loan and understand how the loan works. Also look at what happens if you miss payments.

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SOURCE: http://www.whichwaytopay.co.za/cash-payday-loans.asp

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