The term low cost payday loan is often used to refer to a short-term paycheck advance. Other terms used that mean the same thing are faxless payday loan or quick cash payday loan. A low cost payday loan is characterized by a short-term maturity date, the same as a cash advance. It is normally paid pack on your next payday. Americans are often paid biweekly, so cash advances often have a two-week term.
You may be wondering what you need to qualify for a low cost payday loan. You need to be a United States resident. You must be 18 years or older, and you need to have stable employment. An unemployed resident would not qualify for a low cost payday loan since it needs to be repaid on the following payday.
Additional requirements include a monthly income of at least $1000 and an active checking account. This is important since the borrowed funds are deposited directly into the bank account. This way is quicker to make the funds available to you and less costly. You can expect to have the full loan amount and any fees debited directly from your bank account.
If you find yourself needing some quick cash to hold you until your next paycheck, you can request a low cost payday loan online, over the phone, or in person. Most people find applying online a lot more convenient and faster. They enjoy the privacy since no one has to find out that they have a financial crisis. In addition, they do not have to wait in long lines to apply for
a loan. Most of the times they do not even need documents.
All you need when you apply online is to provide proof of employment. A paycheck stub containing your employer's tax ID number will suffice. You will also need to provide your checking account information. Make sure you enter the information accurately to avoid delays. The bank account information will be used to deposit the money you borrow. Expect to provide a valid ID. This can be a passport or driver's license. Make sure you enter your current address and current contact information.
Our website is secure, so you do not need to worry about someone stealing your information. We keep all your data confidential and do not sell it to a third party. You can apply with peace of mind knowing that we have our best interests at heart.
All the information you provide is confirmed through a VPN compatible software. To verify your identity, your address, and other information it is checked against your social security number. This is a precaution to avoid fraud, and verification is normally obtained within 24 hours. Once verification is obtained, the funds are deposited in your account.
Most customers will agree that it is fairly easy to obtain a low cost payday loan when you meet all the requirements. Repeat customers with a good payment history may apply for a new advance and they will find the process a lot simpler than the first time. Therefore, if you find yourself needing fast cash this month, a low cost payday loan is your best choice.
Category: Payday loans