Pay Day Loans

Payday Loans: What to know before you apply

Of all of the loans currently available to South Africans, payday loans has been one of the most effective financial lifelines. Designed to be a sort of bailout loan for when you have run dry on cash during the month, or to save you from those completely unexpected financial situations, payday loans are one of the better loan options to consider.

You never know just when you might need to apply for a loan, so it is best to always know what your options are. Payday loans are ideal for when you need a small amount of money, the type of amount that you will be able to pay back with your next pay check. This will usually mean that you need to be employed and earning a certain amount of money in order to qualify for the loan. But generally, this loan is one of the better options as interest rates are kept relatively low.

Why should you apply for payday loans?

Still deciding if you should apply for a payday loan? Knowing the benefits of applying for such a loan can be a great way to make your decision. And there are more benefits than simply escaping a difficult financial period in your life.

Luckily, this is the ideal loan for those who need money and cannot wait. Not only is the application speedy but the actual transfer of the amount once it has been approved is also rather fast.
And then there is the fact that this loan is perfectly suited to assist those who have no financial backup plan. Having little to no savings is to be expected in today’s economic climate where simply surviving can sometimes be a difficult task to achieve. Here are few of the other advantages you can look forward to when you are approved for this loan:

1. They are quick to apply for and the money is quickly deposited
When you find yourself in a difficult financial situation you can approach a loan provider and both apply for and receive the money within the matter of a few hours. This makes life much easier for you as you can get the amount you need in half the time it would take to get any other type of loan.

2. A simple, uncomplicated application process
Unlike other loans which usually require extensive background checks regarding your credit history, the loan providers are more interested in whether or not you have a job and will be able to pay back the money. One of the few requirements that you must meet in order to get a loan of this type is that you need to have a steady salary coming in each month. Remember that the loan is used to get you out of unexpected financial situations rather than to help you buy a house, for instance.

3. You can spend the amount in cash
As the loan is transferred straight into your account you will be able to withdraw the money in cash and use it for whatever you need. There are no set rules for what you can use the money for although the idea surrounding the loan is that it is taken out when a person has a financial emergency. Unlike the credit card where you can only withdraw a limited amount of money, you can draw the entire amount in cash if that is what you wish to do.

4. What you use the money on is up to you
If you take out a house loan or a car loan, you are going to have to spend the money on those things that the loan specifies the amount to be spent on. With payday loans, you can spend the money on anything from groceries to bills. There are no limits. This makes the payday loan highly flexible and able to cover all small financial situations.

5. Few loans are this convenient
What makes payday loans so convenient is that it is easy to apply for and easy to get. These days, with loan companies conducting plenty of their business online, the loan can be applied for at any time of the day on any day of the week by using an online application. And because the payday loan is easy to get, the amount is conveniently deposited into your bank account within hours of your application being approved.

And this is why you should use our services

We offer a fast service, with no delays once your loan has been approved. As mentioned before, to speed up the process, we give you the option of applying for the loan online. When applying online for your loan it will take a few minutes to send in the application and then we will get back to you as soon as your loan is approved, usually within a few hours.

As a loan provider, we know that not everyone who comes to us for a loan is doing so because they are reckless spenders. Financial tough times can hit anyone and sometimes during these difficult times you might become blacklisted. While many loan providers look unfavourably on those who have been blacklisted; we don’t. We offer loans for people with bad credit ratings. Contact us to find out more about our loans for blacklisted people.

What you must keep in mind before you consider payday loans is that the money is not available as a long term loan. If you need a long term loan you should rather apply for one of the other loans as these can be paid back over a predetermined amount of time.

Payday loans can get you out of financial trouble and carry you over to the next month. You don’t have to struggle financially, even if you have bad credit. We always work towards finding a way to accommodate those who apply for a loan, regardless of what their current financial situation is.
Contact us today and enjoy the financial relief that is possible when responsibly taking out a loan.