Payday Loan: short-term loans up to $1000


What is a payday loan?


A payday loan refers to the loan over a short term commitment and of a small amount of money. This short-term commitment is of few weeks after which you have to return the whole amount with a single finance charge. The amount you can borrow depends on your earnings of only one month. An installment loan is a loan that a refund is paid over time with a set number of scheduled payments. The main advantage of payday loans is the minimum requirements!



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Installment Loan: medium-term loans up to $3000


Installment Loans - Up to 12-24 months cash advance!


The installment loan is similar to the payday loan in many ways, one of the ways is that you have to transfer installment every month which is like the payday loan. If the loan is for an extended period, then there will be more responsibility on you to repay every month. Sometimes, a couple of weeks are enough to complete the payday loan. Things can change over the long period of installment loan.



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A payday loan is beneficial for you when you need a small amount of cash in an emergency, and for a big amount, an installment loan is perfect. Most of the people go for installment loan over payday loans because you have to pay them back in installments and not a whole amount at once. The people with checkered credit history can maintain their position by paying the amount on time.

While the installment loans are the loans with the long-term commitment in which you can get a loan of more than the amount you, can get the payday loan. This loan is repaid after a period with interest applied on it. The amount you can borrow in as installment loans depends on your income and you are paid only twenty-five percent of the gross of your income.

Procedure on how to apply for payday and installment loans


Find a good Banking Institution

This can be done through locally or online searching. For the fast and easy transaction, it is best to deal with online companies. You can apply from your home and get the deposited cash within 24 hours or less. In finding the best banks, you have to weigh the interest rates and policies of one bank to another. Don't depend on companies that offer high-interest rates. If you did, you would find it hard on how to pay back the principal and interest rate of the loan.

Speak to the Representative

Before you apply, be sure that you talk over with any representatives of representative banking institutions. It's possible to ask some unanswered questions and other associated details. Your preferred companies should offer you the option to be charged in installments, just like the finance fees and monthly payments.

Prepare Your Documents

For anybody getting rid of local companies, it is advisable to prepare your identification card and proof of income. The typical an example of these proofs of income include pay stubs or bank statements. You also would like to prepare your checking account information or checkbooks. With online companies, The most important requirements that you must prepare is known as the bank statements and pay stubs.

Filling Out and Submission with regards to the Application

Application forms for payday installment loans often provide mainly because of the company's representative. After this, make sure you indicate your name and personal information. Other details include SSS number, address, names and phone numbers and other. Your application also needs to include your employment details along the lines of monthly income and location of work. Submission while using the application, on the other side hand, is very easy. Should you happen to be using the services of local companies, just visit them and personally give your application form.

To be eligible for these loans, you will have to meet certain preconditions. First, of you will have to be more than 18 years of age. You must be holding a valid bank account. You must also have a steady income.

Despite the best of intentions, a person may find they are unable to pay the money back. As part of the application, there will be a section that explains what happens if the debt is outstanding. There is a very high-interest rate if the money has to be paid out over time and should be avoided. Go for these loans today.