Payday Cash Loans (For US Citizens only)
Payday loans are available for for US citizens. Get cash loan worth up to $25,000. Easy processing without any free. Multiple cash transfer options. In United States of America, Payday Loans are best known as pay advance, salary loan, small dollar loans and cash advance loan. Payday Loan are the short term loans used as a financing solutions for one time emergence use by citizens of US. Payday Loan are fast and conveniently fulfill short term financial needs. A great tool that gives you the power to deal with your expenses.
Payday Loan are frequently up to 100$ to 1500$ loans that are outstanding for 7 to 35 days depending on the state or the country you live. Every year 12 millions American citizens use it. You (American citizen) can apply for Payday Loan when you know that you have a check coming in a few weeks. You have to pay them all once. It provides you complete acceptable financial management tool for your facility. Payday Loan usually cost 400% annual interest (APR) or more than that. For example, if you want to borrow $100 via Payday loan you have to pay $25 to $30 as financial charges. Thus Payday Loan can result 370%-750% APR. As short term loans have higher APR’s.
Payday Loans : When and Why To Apply a Payday loan
Payday Loan are meant for one time in United States so that you can’t use it all over the year.Your financial management is the best tool to know when you need a payday loan? Always keep the online payday loan an alternate option for your super urgent financial tasks. We have listed below few financial emergencies that you should be facing when you apply for a payday loan online :
When to Apply For Payday Loan :
- For small financial management for your family
- For family emergency need
- For repairing your furniture or other household item
- For any minor surgery expense
- For paying hospital expenses
You are advised not to cover your following needs with the help of payday loans.
- For purchasing an apartment
- For investing in your business
- For purchasing a valuable gift
- For all wedding expenses
- For a major surgery expense
Payday Loans For US Citizens
Different lenders of Payday loan providers facilitates their user with variety of loans to apply. They give fair loans, but they do not control the amount of your fee or any other terms and conditions of your loan. As the financial charges and other terms and conditions are controlled by the lender. Payday Loan highly recommend you to use it in an emergency and pay it back as early as possible. So that you have to pay the minimum fees as planned with the lender.
The due date is generally your next payday, which is from 14 to 31 days depending on the state you live. Be sure to ask any type of question or query to your lender. As different lenders have different rule and regulation about financial fees and other terms and conditions. If you fail to repay your loan on due date, you can extend the loan. By extending the loan you have to pay all accrued interest and other required payment on your next Payday. For more details about loan extension you can directly contact your lender.
Payday Loans Cash Deposit Facilities (Only for US citizens in USA)
For the borrowers facility Payday loan have following cash deposit options.
1. Payday Loans Bank wire service :
After applying, submitting and then approval of the emergency request, your required loan amount will be move to your bank account within one working day. The efficient and fast way to immediately receive the cash amount is bank wires. They usually charge their service from the amount of the loan. For example, if you apply for the loan of $500, you will get less than $500 after deduction of wire fee in your account. Remember that not all the banks facilities with same day bank wire service. For the bank wire service they may charge an additional fee except wire fee. Note that bank wire service can only facilitates you through Monday to Friday during working hours. It is recommended that you ask about your lender or bank before applying for the service.
2. Payday Loans One day service :
This Payday loan service after applying, submitting and approved will transmit the required loan amount in your bank account by the next day. Which means within 24 hours, that usually count as a day. when you request a typical Payday loan, the you will receive the amount the same day depending on the time you apply for the loan. But if you apply Friday evening, you will receive the amount on Monday, as the bank are closed on holidays. But it is again recommended to ask your lender and bank about their policies.
3. Payday Loans Hours loan service :
Lot of peoples are interested in one hour loan services. It is possible in theory but it cannot be possible from a practical point of view. After applying for payday loan, the lender must take time in clarify the terms and condition before you get finally approved for the loan. In completing the whole process of loan and then depositing the money into your bank account takes little time. As quickly as it can be within 4 to 6 hours. Thus, if you apply in the morning and get approved earlier, you can possibly get the amount in the same day. However always keep in mind that once approved, you will receive the amount the next working day. But the lenders do not transfer amount on holiday and when the bank is closed.
4. Payday Loans Mobile wallet service :
Mobile wallet service varies from lender to lender. It is the fastest Payday loan service. This service is becoming popular day by day among users. To utilize the service you must have an Mobile Wallet Account. When you apply for the Payday loan. After applying and then approved for the loan, you can get your account easily on your Mobile Wallet account. You can efficiently get your amount within hours or the same working day. The mobile wallet service does not have any additional fee.
Payday Loans Application Approval Criteria (For USA only)
Payday loans provides you with online services. You only have to apply from home or from anywhere else. You do not have to wait in a queue. Payday do not need any personal information. You do not have to pay for the application. You have to provide the accurate information in the required fields to get Payday Loan. Information like name, address, bank details, employment information and picture.
The entire process will be done with privacy. All sensitive data is transmitted at 128 bit Secure Socket Layer (SSL) encryption technology. When you complete the application, Payday loan services will match you with the lender. After been approved and matched with the lender you have to be carefully review the loan amount and other terms and conditions.
If you agree with the terms and conditions you can provide an e-signature. However it is not necessary to accept the agreement, you may quit it any time. After approval, the cash is deposited by the lender into your account or either the same day or within 24 hours.
Payday Loans Requirements For Residents in USA (Updated For US Citizens)
Payday Loan loans do not required traditional credit card checking. If you have low credit card score it does not matter. For borrowing any amount your high or low credit history is beside the point. Payday do not focus on your financial mistakes with you had made in your past. Lenders do not ask questions to borrowers to determine whether they can afford to repay the loan or not.
Requirements for payday loans for US citizens are as follow :
- You have to be 18 years old
- You have to be an American citizen or a permanent resident in USA
- You have to be a valid US bank account (USA banks)
- You have to be currently employed
- You have to be making at least $1000 per month
- You have a telephone or mobile number (US phone)
- You have a valid email address
Payday Loans For Cash Needed $500-$10,000
As the lenders only allow the payday online cash loans for the citizens of United States that are living in USA.All the US citizens can apply for payday loans online.They need to mention how much payday loan’s amount they need.They have option to apply for a small amount of $500 payday loan. Depending upon the needed cash, the amount can be a large amount to apply for payday loan range from $1000-$10,000.Many unaware people in United States think that payday lenders charge too much interest. and take advantage of people in times of need. well, let’s look out to the alternatives:
- Bounced check costs more
- Overdraft fees costs more
- Missing a utility payment or a telephone bill will cost more
- Bank charged $36 billion draft fees last year
- Bank overdraft fees can charge $24-$35 for being late
- There is $30 late fees on $120 bill
The amount of interest on Payday loans (for US citizens) in United States are too high because of the following reasons:
- Easy to get
- No credit checking
- Very simple requirements
- Borrower’s check only show amount needed
In United States of America, the average loan return duration is two weeks. usually the loan annual interest rate is equal to 400%. The finance charge usually results in 380%-760% APR. As short term loans have high APR’s. As compared to other cash loans Payday loans are exceptionally very expensive. According to a comparison chart, a cash advance of $300 on the average credit card, of paying duration one month, would cost finance financial charges of amount $13.90 and almost 56% as an annual interest rate. whereas on the other hand, Payday loan tops in the other short term loans who also have relatively highly expensive, costing $17.55 per $100 and an annual interest of 425%.
Payday Loans Repaying and Return Policy
In United States of America, the borrower will have to repay the payment within 8-25 days according to rules and regulations in different states. However, if the borrower wishes to repay before the due date they will be entitled for the refund of their loan fee. The borrower can repay the check by the following ways:
- Paying the payday loan with cash
- Deposit the loan at bank by using check
- By paying the finance charge and renew the loan
If the borrower (that must be a US citizen / living in USA) do not return the payday loan in due date, they may have to request for loan extension and have to pay the finance charge to renew the loan until they can manage to pay the whole amount together. If you want to borrow more, you must have to repay the previous after that new loan will be granted. Different services of Payday loan facilitates their user with variety of loan options. They give fair loans, but they do not control the amount of your fee or any other terms and conditions of your loan.
Payday Loan’s financial charges, Legal Status and Restrictions
As the financial charges and other terms and conditions of payday loans in United States of American are controlled by the lender. Payday Loan highly recommend you to use it in an emergency and pay it back as early as possible. So that you have to pay the minimum fees as planned with the lender. The due date is generally your next payday, which is from 14 to 31 days depending on the state you live.
Be sure to ask any type of question or query to your lender. As different lenders have different rule and regulation about financial fees and other terms and conditions. If you fail to repay your loan on due date, you can extend the loan. By extending the loan you have to pay all accrued interest and other required payment on your next Payday. For more details about loan extension you can directly contact your lender. The financial charges for Payday loan are calculated according to state and federal laws. The fees will be $25 to $30 for each $100 depending on lender. For example, if you want to borrow $500. The financial charges will be from $125 to $150 depending on the state where you live.
It is said by the survey of many financial publishers appearing in search engine Google that Payday loans for US citizens frequently trap the borrower into paying repeated financial charges to renew the loan again and again due to the extremely high cost of borrowing, and the very short repayment period with full payment at once. unfortunately many borrower’s, once they receive their next Paycheck, they are still unable to pay the entire payment once. Thus, they are forced to take the last option that is to roll the loan over and pay those financial charges and fees. Borrowers who get payday loans typically have to pay eight to thirteen financial charges per year at a single lend payment. In one state almost 60% of all loans received were used to cover the previous payday loan payment, or immediately taken out new loans after paying off the previous loan.
Payday Loans : Pros and Cons Of Online Payday Loan
Payday Loans in USA are the short term financing solution. There is a wide range of things a borrower (must be a US citizen) can do with online payday loans.We have classified the primary advantages of payday loans.
Advantages of Payday Loans in United States :
On the basis of those advantages, so you can use it for the following reasons:
- For buying your groceries
- For paying your rent
- For fixing your leaking roof
- For paying bills on time
- For celebrating a special occasion
Disadvantages of Payday loans in United States :
Payday Loan are not a long term financing solution. so you shouldn’t use it for the following reasons:
- For purchasing any luxury items like gold jewelry, diamond etc
- For buying a new car
- For travelling worldwide
- For whole expense throughout the year
- For donating to a charity
Payday loans service is a vast business of Billion Dollars with outlets ranges in thousands across the whole country. In United States of America, the cost of borrowing is very high, so the Federal and States of Government made different polices in the industry.