Monday 1 December 2014

Payday Loans You Can Repay In Installments

Have you heard of Payday loans? These are small loans of $100 - $1000 given for short periods. These loans are very popular with salaried employees those who have employment and get a regular income. These loans were especially useful when some unexpected and unavoidable expenses came up. For example, if you have a medical emergency in the family and need to buy medicines, you will need extra money that month to buy medicines. In that case you can take a Payday loan and repay the loan when you get your next payday cheque. The product and service was good.

The product and the service just got better.

You can now get payday loans that can be repaid in installments. You don’t have to repay the entire loan in one lump sum. Instead, you can repay it in small installments. This is more convenient. This kind of loan is called installment payday loans.

To be eligible for installment payday loans, you have to be an adult. This means you must be at least 18 years old or older. You also need to have a permanent residential address in the US. This address can be the address of the home that you own, or the home that you live in as a tenant. It also helps if you hold a valid bank account. If you do have a bank account then the funds you asked for can be transferred to your bank account.

Applications forms are available online at a number of websites. These online application forms save your time. You no longer need to visit the lender’s office to submit your application form. You can submit your application from your desktop at home or your workplace. Online applications also mean that the lenders are available 24x7. They receive your application instantly and attempt to respond immediately. You do not have to send the lenders any documents by fax. Whatever information you enter in your application form is all they require. They will get in touch with you for any further information that they require. 

You can get these loans without any security deposits or collateral, and you are eligible even if you happen to have a bad credit rating, or debts, or unpaid dues. These lenders do not fuss about those kinds of issues.

If you liked payday loans, you will be happy to know that you can get payday loans without faxing. Collateral, credit verification etc. are not part of the borrowing process of these loans.