Quick cash loans have been introduced by a few lenders to help you out in quite small but actually serious and urgent problems. In our life, we face unexpected expenditures at many times and we feel quite distressed to manage it with our fixed income. To handle these types of situations quick cash loans is the best option.
Do you want a little amount of cash to solve your small problem (such as repair work of your home)? Do you have anyone in a close relationship or someone else who can help you by lending some money? When nobody else is there, quick cash loans will always be there for you to lend short term cash loan quickly. In quick loans you will be sanctioned loan amount within a few hours of submitting your application form. The loan amount will directly be transferred to your bank account, you need not to go anywhere to collect the amount.
Quick cash loans can also be termed as short term loans. The reason for this is that the cash loan sanctioned for short span of time. You will have to repay the loan amount whenever you received the pay cheque because quick cash loans are based on the upcoming salary. It depends on the monthly payout of the borrower that how much lenders will lend him/her the money. The borrower should have a regular source of income and use to get fixed payout on monthly basis and then only the lender will lend you the short term quick cash loans. There are few lenders who ask for postdated cheque of the loan amount including very less lending charges for security purpose.
On the other hand there are few lenders who charge more from the borrowers as lending charges and also high level interest rates because quick cash loans are for short time period. It puts extra burden and a headache to the borrower. So make sure before applying for quick loans that you really have some emergency for the short term funds. You should approach these short term lenders in case of urgency. The best way to get quick money is visiting the website of online money lender. It does not take any processing fee to approve your quick cash loan amount.
As compared to other lending methods, quick cash loans provides you quick service. It is also quite easy to get loan approval for quick cash loans because it does not contains a lot of documentation, guarantor, bank statements etc. Quick loans are very convenient method of getting emergency funds. You need not stand in a long queue to apply for loan or do not have to spend almost a week/fortnight to get the approval for your loan. Quick cash loan will take only few hours to complete the whole procedure starting from applying for loan to getting cash in hand.
All the loans that we review or recommend all have:
- Minimum period of repayment: 6 months. We do NOT recommend taking any loan with repayment period of less than 6 months, as you will have difficulties paying back
- Maximum period of repayment: 3 years
- Annual Percentage Rate (APR): less than 12%. Any rate higher than this will negatively impact your finance
- Below is an example of the loan mentioned in this article, with a loan amount of $20,000
|Flat Interest Rate||7.50% p.a. (Effective Interest Rate of 14.39% p.a.)|
|Total Interest Charged for the Loan||$20,000 x 7.50% p.a. x 3 years = $4,500|
|Loan amount + Total Interest||$20,000 + $4,500 = $24,500|
|Monthly Instalment||$24,500 / 36 = $680.56|