Quick Cash Payday Loan - Cash Loan Against your Paycheck

By: Apurva Shree

Most Americans living on a paycheck-to-paycheck basis will be aware of quick cash payday loan. They know how it is when you are at the end of your pay cycle and you are suddenly faced with a medical emergency. You can't wait till your next payday to clear the hospital dues and to get the necessary medicines and injections. This is the kind of situation, which calls for the need to take a quick payday cash loan in advance against your next paycheck.

What Is A Quick Payday Cash Loan?

A quick cash payday loan lets you borrow a small amount of money, generally ranging from $100 to $1000, for a period of 2-4 weeks, without going through tedious loan application and approval procedures. It is quick in the sense that the entire process of application, approval and loan disbursement takes not more than one business day! Everything is done electronically and you the money sitting in your bank account within a day. Because of its operational ease, quick payday loan has become very popular these days with the salaried people.

There are certain eligibility requisites for getting a quick cash advance payday loan however. First, you have to be over 18 years of age. Second, you must have held a steady job for at least the last 90 days, before you apply for a quick cash payday loan. Lastly, you must also have an active checking account in a bank, as the loan amount is directly wired to your bank account.

Shop Around For the Best Deal

Other than that, some lending companies have further restrictions, like a minimum monthly salary of $1000. Some companies impose a limit on the amount a new customer can borrow. While some companies offer the first quick cash payday loan totally interest free to new customers! Ofcourse, you'll need to search for such deals.

You will also need to compare the interest rates applicable by various lending companies, because the cut-throat competition today in the quick cash payday loan market creates the possibility of gaining a marginal advantage with a lower interest rate. Doing this should not be very difficult, as most payday lenders have set up shop on the internet, so you can easily compare costs and the terms and conditions of vendors.

You can also compare the time taken by various quick cash payday loan companies to deposit the amount in your bank account for use. You can easily read user reviews about the companies and find out if they have any pending complaints registered against them in the local BBB.

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