Payday Advance Loans: Helping the Salaried Segment

By: Alec Recce
Do you have to undergo some emergency surgery, your car has broken down, you have a bill which is unpaid or any other such problem and to top it all you have no cash in your bank. Don't fret, there is just the solution you need to all these problems in the form of Payday Cash Loans. These cash loans are available instantly from the lenders in the market varying from hundred pounds to thousand pounds.

These loans are strictly available to people who are working and receive a regular salary check. The maximum amount available on loan is half the amount of your salary. To avail these loans you can apply online or through phone calls. There are some lenders who are satisfied with just your social security number or the account number whereas some ask you to fax your details including your bank statements. You must make sure that the lender is genuine before applying and sending these documents. Once your form is accepted and the details checked there will be a cash deposit of the amount made in your bank. The rate of interest before applying maybe just 10% but it may increase to 30% depending on the amount and your credit after you have applied.

The repayment terms for these loans are also very clear. You have to give post dated cheques of the same amount, while applying for the loan, including the interest amount. These lenders give a repayment period of 7-15 days within which you need to make your cash payment. In case you fail to do so they will use the post dated cheque to get the payment. In such loans its best to get done with the payment at the earliest or else you will end up with high debts.

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