Guaranteed online loans with instant credit approval are great when you have a need to cover an emergency or unpredicted incident and you do not have the means of coming up with immediate cash. This is also referred to as cash advances or payday loans. The best feature of this kind of loan is that you will be able to actually get the funds in less than twenty-four hours.
Primarily, cash advances are intended for individuals who need to pay for unforeseen bills. More often than not, the situations that call for instant cash include payment for a medical emergency, a broken down motor vehicle and mortgage payment. There are a number of benefits that are linked to cash advances of which individuals can take advantage. The money that you need is immediately and directly transferred into your bank account subsequent to your loan being approved.
Cash advances fall in the category of short term loans. That is to say, you will not be required to put up security or collateral in order to secure the loan. Any individual who is qualified can have access to the loan. A few of the requirements include that you have to be a citizen of the United States, be 18 years or older, have a job for a minimum of 2 to 3 months and have a checking or saving account. It is important to note that these days, a number of lenders offer cash advances that no longer require a bank account.
The process of accessing a payday loan is actually quick and easy. All that is required of you is to have an internet connection and a personal computer. There is absolutely no requirement for a credit check, in view of the fact that cash advances are short term loans, typically the rates vary based on the amount of money to which you would like to gain access. In addition, it depends on the city or state in which you live given that there are different laws concerning these loans. The majority of lenders will pay out between $500 and $1500, based on the salary of the individual who is borrowing.
Given that cash advances are short term loans, the individual who is borrowing is typically required to repay the loan in two weeks or with the next paycheck, whichever is sooner. Additionally, there are a number of lenders who allow the individual negotiate the period of repayment. Actually, a number of individuals get up to 30 days to repay the guaranteed online loans with instant credit approval and some even get a longer period.