Do you know why such a large section of the public is crazy about payday loans? And this is despite the fact that critics of this loan are constantly harping on the high-interest rate on these loans. The reason is quite simple for everyone to see – banks are afraid to give loans today. See ruidomain.com for a write-up
The credit rating of the US has taken a drum and the global economy with a weakening breath waiting to see what happens. The experts’ preliminary rulings are not from 2008. similar scenario. And banks have already begun to tighten their credit policies once again.
Given this trouble, the only way out of a normal person like you and me is a payday loan. So, are we ready to dish that huge deal with the payday loan interest rate? I think there are times when we have no choice.
But let us do some calculations. An APR of 2860% means that one has to pay about L30 for L100 payday loans taken out. When most of these loans are repaid in a month then isn’t this L30 or less really important?
Now let us see what to do if a payday loan is not taken by someone who is more inclined to a bank loan. Need a bank loan and provide load documents.
There is a lot to do, checks to eat up precious time. Other additional documents are requested. And when the applicant is almost hurt, waiting for the loan to be approved, said his application was denied. And the reason for the rejection? As superficial as they are. Let us compare how this process works with payday loans.
When you apply for a payday loan you don’t have to go anywhere
Go online and apply for a payday loan online. Filling in the forms will preferably take 10 minutes. The moment a form is filled out and submitted one gets to know if the loan has been approved or not. There are documents to be submitted and waiting time for approval.
And the better part is yet to come. If the payday loan is approved before the late afternoon, the money will be credited to the plaintiff’s account on the same day. What more can one ask for?
Now think about what will happen to the payment when you get a bank loan. Your stay on the loan is somewhere around 36 months. Yes, you keep on paying off the loan for 3 years in a row, ruing the money loss as each EMI direct debits your account.
Payday loan providers
When you choose a payday loan you need to make one and the last payment. And payday loan providers ensure that they give you just that much that you need. So, get a loan worth L200 and pay off L260 on your next payday. Loans are made and Lenticular Sun…. If you need another loan log in again and apply.
Payday loans are any day better than a bank loan. Payday loans are just amounts and they get completed off in one.