What loans are the easiest to get approved for?
How can I get a loan quickly?
What is the best site to get a loan from?
How do I choose a lender for a loan?
Personal Loans are ideal during financial emergencies and cash crunch. With many banks and Non-Banking Financial Companies (NBFCs) offering different kinds of Personal Loans, such as regular Personal Loans, Instant Personal Loan, Pre-approved Personal Loan, Pre-qualified Personal Loan, etc., and aggressively promoting them, getting a Personal Loan has become much easier and faster than how it was a decade ago. That said, making a decision in haste and not choosing the right Personal Loan and lender can lead to future disappointment. Read this article before opting for a Personal Loan to avoid such disappointments in the future, as it will help you choose the right Personal Loan lender.
1. Rate of Interest:
When choosing the Personal Loan Lender, the rate of interest should be the major deciding factor because personal loans have the highest rate of interest, and it generally ranges from 11% p.a. to 28% p.a. When your repayment tenure is a longer duration of 4-5 years, you end up paying a lot more than the principal amount. Many banks lure customers with different offers by marginally reducing the annual interest rate by 20bps to 50bps ( i.e. 0.20% to 0.50% p.a). Advisably, if your credit history is sound and your credit score is high, you can use it as leverage to negotiate a better rate of interest with your bank. Also, many lenders offer No Cost EMIs or Zero Interest EMIs on purchases of consumer durables. However, the lenders often recover the interest amount from the processing fee or do not give cash discounts that you would otherwise get. Hence, you should check and compare your total outgo and make an informed decision when choosing a Personal Loan Lender.
2. Other Fees:
The interest rate is not the only cost you pay to avail of a loan. The banks or financial institutions charge a certain amount to process your loan application. This processing fee could be a flat amount or can range from 1% to 3% of the loan amount and can increase the cost of your loan considerably.
Furthermore, it is prudent to foreclose your loans to save the interest payment on future EMIs whenever you have adequate funds. You should know that most banks and financial institutions charge pre-payment fees if you want to foreclose your Personal Loan. The charges vary from company to company and generally range between 2% to 5%, which makes a big difference, especially when the dues are high.
Therefore, it is advisable to consider all the fees and charges and calculate the total cost of the loan before finalising the lender
3. Loan Amount:
Lenders have limits on the minimum and maximum personal loan amount they can offer to a single borrower. Hence, before approaching a lender, you should clearly know why you need the funds and how much is the exact amount you need because, depending on your financial needs, the lender should be able to offer sufficient funds at an affordable rate of interest. The loan amount may also vary depending upon your eligibility and credit profile. Therefore, it makes sense to compare different lenders on the parameter of the loan amount they offer you and choose the one who can offer a sufficient loan amount at an affordable rate of interest.
4. Processing Time:
As discussed above, nowadays, banks and NBFCs offer different types of Personal Loans. Instant personal loans and Pre-approved Personal Loans can be availed quickly compared to Regular Personal Loans, as these loans are typically offered to existing customers with good credit records. If you urgently require funds, it is advisable to check with your existing lender or primary bank, who can offer you a Personal Loan instantly at an attractive rate of interest. Some instant loans can be availed in a matter of a few minutes to 48 hours. Whereas Regular Personal Loans can take up to 7 to 15 days, depending upon the lender’s policy and your credit profile.
5. Customer Service:
While taking a loan is a one-time experience, you will need the assistance of your lender in several situations. Many borrowers do not consider it when choosing a lender, but if the lender’s customer service is not satisfactory, you can get disappointed in the future. Therefore, it is essential to choose a lender wisely that offers good customer reviews. You can check the actual customer reviews online and make your decision.
Applying for a cash advance online via lenders on the Big Buck Loan website will see borrowers being offered fast cash advance loans that provide competitive interest rates of 5.99% to 35.99% and easy repayment terms of 2 to 24 months.
Eligibility for payday advance at Big Buck Loans
- 18 years or older
- Permanent US resident
- Active US bank account
- Pass affordability checks
Pros
- Easy online cash advance application process
- Fast disbursements
- Bad credit scores welcome
Cons
- Poor credit ratings may impact loan decisions
Green Dollar Loans
Lenders via Green Dollar Loans are the best solution if you need a quick payday advance to get you through to the next payday. The application process is fast, entirely online and takes a few short minutes to complete via the Green Dollar Loans website. Once approved, the loan value is paid directly to your bank account, usually on the same day!
payday advance can be as little as $100, perfect for those sneaky unplanned expenses or last-minute school trips! Or select a higher loan value of up to $5,000, depending on your financial needs. Repayment terms are flexible and can be set to between 2 and 24 months.
Eligibility for cash advance loans at Green Dollar Loans
- Minimum income $1,000 per month
- Applicants must be 18 years/older
- Permanently employed
- Active bank account and contact number
Pros
- Quick loan payouts
- Straightforward cash advance online application
- Easy repayment terms
Cons
- APR rates can be high
Viva Payday Loans
Cash advances for those with bad credit may seem unattainable, but with the help of specialized lenders via Viva Payday Loans, cash advance loans are easy to apply for. While lenders will most likely look at a borrower’s credit history, application decisions are based on an affordability assessment rather than just a less-than-shiny credit score.
Loan values are available from $100 to $5,000 with competitive interest rates of 5.99% to 35.99%. Repayment terms are flexible from 3 to 24 months and can be set to suit the borrower’s affordability.
Eligibility for cash advance loans at Viva Payday Loans
- Full USA residency
- Minimum legal age 18 years
- Permanently employed with a minimum income of $1,000 per month
- Meet the requirements of an affordability evaluation
Pros
- Poor credit scores welcome
- Flexible and affordable loan values/APR rates
- Boost credit rating
Cons
- Not all applications receive loan approval.
Credit Clock
Cash advance loans via Credit Clock loan providers can expect fast same-day approval and disbursement. Lenders typically offer borrowers loan values of between $100 and $5,000, with APR rates ranging from 5.99% to 35.99%. In addition, borrowers can choose a repayment term to suit their budget between 3 and 24 months.
Eligibility for cash advance loans at Credit Clock
Legal age limit of 18 years or older
Permanently employed/minimum monthly income of $1,000 +
Active bank account and contact number
Resident in the US
Eligibility for cash advance loans at Credit Clock
- Legal age limit of 18 years or older
- Permanently employed/minimum monthly income of $1,000 +
- Active bank account and contact number
- Resident in the US
Pros
- Quick, same-day payments
- Fast online application
- Cost-effective payday advance values and easy repayment terms
Cons
- A limited number of cash advance loans permitted
Very Merry Loans
Borrowers looking for the best cash advance loans available need to look no further than the lenders affiliated with the Very Merry Loans website. This loan provider site links borrowers with top-quality lenders offering affordable loans and interest rates.
Loan values range from $100 to $5,000 providing flexibility for those small or large expenses with interest rates of between 5.99% and 35.99%. The cash advance online application process is simplistic and straightforward, and loan payments are usually paid on the same day as approval.
Eligibility for online cash advance loans at Very Merry Loans
- 18 years or older and valid form of ID
- Permanent US resident
- Regular minimum income $1,000
- Active US bank account and mobile number
Pros
- Affordable loan values
- Competitive interest rates
- Quick access to cash
Cons
- Not the cheapest form of finance available
What are cash advance loans and how do they work?
Cash advance loans are finance solutions for when funds are needed quickly for unexpected expenses. The online application is straightforward and user-friendly, and approval is fast, with disbursement usually on the same day.
Borrowers needing cash advances can apply for a cash advance online using a loan finder site like Very Merry Loans. First, they must complete the online application form, which, once submitted, links them to potential lenders. Then, after the agreement is signed and supporting information is returned, payment is made into the borrower’s bank account.
How to apply for cash advance loans in quick steps with Very Merry Loans?
Step 1: Choose your loan amount
Use the sliding scale on the website to choose your required cash advance loan value and repayment term.
Step 2: Complete the application form
Locate the cash loans application form at the top right-hand side of your screen, click on it and follow the prompts.
Step 3: Wait for a decision ..
Step 3: Wait for a decision
Decisions on applications for a cash advance online typically take two minutes.
Step 4: Get your loan
Read, understand and sign the agreement, and check you understand the terms and conditions. Then, return this with any supporting documentation requested by the lender and sit back and await your funds. Payments are usually made on the same day as approval.
Online cash advance loans: Features and factors to consider
Cost of the Loan
High-interest rates and lengthy loan repayment terms can increase the overall cost of the loan. Compare each lender’s offer and choose one best suited to your budget.
Reputation of the Lender
Using loan finder sites like the ones mentioned above ensures you are linked to reputable, trustworthy and accredited lenders.
Disbursement Time
Cash advance loans are typically approved and paid on the day, which is extremely useful when funds are required in an emergency.
Can you afford the loan?
Check that you can afford the loan by comparing your income and expenditure. Missed loan payments can impact your credit score!
Conclusion
The best cash advance loans are from providers that have an easy application process, welcome poor credit scores and make fast payments. At Big Buck Loans, you get all this and more! Perhaps you should consider them when next you need a speedy cash advance loan?
FAQ’s
What are the requirements for legit cash advance loans online?
Eligibility criteria for a cash advance loan include: applicants must be 18 years or older, be a permanent resident in the US and have a minimum income of $1,000.
Can one get a wage advance?
Payday advance loans are fairly common and easy to apply for. Simply log onto your preferred loan finder site, and complete the application. If you meet the loan criteria, you will be linked with potential lenders who can offer you a loan to bridge the gap until your next wage payment.
Can a cash advance loan be done online?
Applying for a cash advance online is easy when using the loan finder sites mentioned in this article. The entire process is done online without the need to visit the bank or have face-to-face meetings. Borrowers complete the online application form and are linked directly to potential lenders. If the loan is approved, the agreement is signed, returned, and payment is made into their bank account on the same day.
