CASH ADVANCE LOANS

With the increased cost of living, it is not uncommon to find ourselves caught in the cobweb of money shortages, debts or unexpected bills. But the unfortunate thing is that we have only one payday in a month!

We can heave a sigh of relief now. The tables have turned. Thanks to the cash advance loans offered in various banks. Though such loans were available few years back, it is increasingly becoming popular these days. It is a remedy to meet the short-term financial pressures.

Availing cash advance loans is an easy job. You can simply apply online, which automatically gets a fixed amount credited to your account. The same can be repaid on the pay day through an automated authorized system.

Cash advance loans are mostly on a short-term basis. It may be only for a period of two to four weeks depending upon the advance and the pay date. It also differs widely from other financial services. The cash advance loans do not contribute to compound interest.

There are a few requirements that a borrower has to fulfill before taking a cash advance loan. The requirements include; Age factor, the person should be at least 21 years old or 18 years in some cases.

Employment; the borrower should be employed on a full time basis with at least three months on the job.

Take Home salary; the take home pay should be no less than $1000 dollars.

Mode of deposition of pay; the mode of deposition of pay should be direct.

The funds can be obtained either through ACH (Automated Clearing House) or through financial services like Western Union Money Transfer or which every bank body offers you the cash advance loans. These loans do not require a credit check. Cash advance loans can also be wholly transacted over the World Wide Web, which makes the job easier.

The cash advance loans also are varied. It depends on the maximum amount, APR (Annual Percentage Rate), duration of the loan and the fees. Sometimes you can even opt for multiple paydays to repay the loan. The number of payments on extension avoids roll over fees and saves money. Rescheduling can also be done in case of delayed payments.

The number of companies offering cash advance loans is many. A methodical home work should be done before taking such loans. Summing up cash advance loans provide a safer, more reliable, faster and beneficial way to look after our financial administration.