One Hour Payday Loan: Loan Within a Few Minutes

By: Jennifer Morva

One hour payday loans are speedy loans given against your next paycheck for a nominal fee. As its name implies, they are online loans that processes your application within the hour. If you are approved for a loan, you should be able to withdraw your loan from your account the following day.

Such loan companies take your income into consideration in deciding how much can borrow. Depending upon your situation, you might be able to borrow up to ?1,500 or more.

The applicant must show proof that he or she is in regular employment. For proof you could take something like your pay sheet or maybe a letter from your boss verifying that you have a regular employment. You may also need to show your recent income tax return or bank passbook before the loan can be granted.

Usually all one hour loan transactions and application are done on the internet. You need to fill an online application on the lender's web site, after which the lender will contact you either by e-mail or phone. You can expect money in your checking account the following business day. Arrangements can be made for same day deposits for a fee.

Most One Hour Payday lenders do not perform any credit check. So even if you have a bad credit, it will not be an issue when applying for a Payday Loan. The normal time for repayment of One Hour Payday Loan is 14 days, or until your next paycheck when you get paid monthly. Instead of an interest rate, lending institutions charge a financial fee. The average fee is ?25 for every borrowed ?100, but it can vary from company to company.

Advantages

&bullThe major advantage is availability in case of any emergency.

&bullIt can be utilized for any emergency situation.

&bullNo credit checks.

&bullYou can apply for it online, and the money is transferred into your account directly.

&bullAvailable to nearly anyone with a bank account and who is in regular employment.

Payday Loans
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