Same day loans are becoming very popular these days. These loans can be providing you instant cash and can help you in meeting a financial emergency. These loans are available to anyone who is over 18 years of age. Therefore, if you want money and cannot find it from anywhere else, you can come to get the same day loans at very interesting rates of interest. In order to get the same day loans, you will either have to visit the personal finance company’s office or log on to their website. Generally, the website will be able to provide you faster approvals. Here is how to get the same day loan with ease.
Simply search Google for the good same day loans companies in your area. It is important to find local businesses and you will be able to interact with them easily and in case of any issues, meeting them and sorting it out will become easier for you. Now, visit the website of a couple of companies and find out the ones that appeal to you. You will simply have to fill up a form for these companies and receive a quote from them within moments. You must ideally receive quotes from a couple of companies to decide which company’s policies and demands suit you better. Study the quote and go ahead with the company which you find the best. You will have to submit electronic copies of a few documents (like proof of age and salary slips) to these companies online. When this is done, you will be receiving a loan agreement from the same day loans company.
You must take your time and study this loan agreement carefully. The rate of interest, the total amount to be paid back by a certain day and the late payment consequences are all mentioned in this agreement. You must check out whether the company is really providing you any kind of support, especially in cases of later payment of no-payment by the dedicated day and time. Most of the companies will allow an extension for another cycle. Therefore, it becomes easier for you to pay the loan. When the loan agreement is read and signed, you can expect the loan to be transferred in your bank account within a few minutes. This is the simplest and the most affordable way in which you will be able to get small same day loans. So get ready to find a good loan now.
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|