Payday Loans No Faxing - Relief From Various Documents

by : Andrrew

When making a loan application, you have to send many documents to the lender. However, you may not have the papers at the time, when you need a loan for urgency. One solution could be that you find out payday loans, which do not require you to fax any papers, such as the proof of your employment in a company, your salary slips of past months and resident proof.

What these loans mean is that without faxing any documents, the loan amount is in your bank account, within 24 hours. However, there are some instances, when the lenders are not satisfied with the details, you provided in your application. Hence, they may want to make further verification and may ask you to fax the documents later. So, after making the application, try to arrange the required documents as soon as possible.

Under these loans, depending on your monthly salary, you can borrow ?100 to ?1500 for two weeks. This implies that you will repay the loan from next paycheqe. You can authorize the lender to withdraw the loaned amount from your bank account on due date. You have the rollover option as well, under which you can extend the repayment for a month.

For salaried people, payday loans carry high costs, as interest rate goes many times higher than on any other unsecured loan. What is more disadvantageous is that the interest payment is further higher once you rollover the loan for couple of weeks. You should opt for these loans as last resort for urgency.

Those people, who have a history of late payments, arrears or defaults, can avail the loan without any credit cheque, once they have proved their employment.

Compare as many offers as you can. Compare the interest rate or financial charges. You may come across an offer, which has lower fee. Repay the loan on time or you will end-up in debts.