How long does a loan application online take? |
Posted: February 21, 2018 |
Loans online have been around for the last several years. The application form and process to apply and be funded with a loan within that time has decreased considerably. So what is the current time it takes to apply and be funded with a bad credit loan? 15-minutes total! I know I was also in shock. This is the process at time of going to press.
And receiving my funds?Once this is all done, it’s just matter of waiting for the funds to be advanced into your account. Most of our customers benefit from cash on the very same day that they apply, with many receiving their quick cash loan within 60 minutes. To ensure that there are no delays with your application, you should make sure all of your details are filled in correctly. When you apply for any kind of short term loan, generally you will have to provide confirmation of your identity (name/address), a way to contact you (phone/email) and details of your employment (to check that you will be able to repay). You will need to make sure this is all correct, so that everything goes smoothly. Also, to make things much easier for you, we will automatically take out the cash (plus the interest) out of your account, on the repayment date that you chose (usually your next payday). Payday Loans – Paper Free CreditIt’s easy to see that technology is growing from strength to strength, and this has meant that many companies offering loans for bad credit – see Simple Payday, are now switching to online paper free transactions. From banks giving you the option of paper free billing and to phone and internet providers also offering the same service, it’s no wonder many loan companies have now made it so that now the whole process is completely online. Unlike other types of short-term loan, you won’t have to fax us any documents, meaning it’s now easier than ever to be able to get a payday loan. You can apply with us for anything from £50 up to £1,250 but the average customer will normally borrow around £200. Although the service that we provide requires no faxing of documents, there may be some rare cases where you may have to supply some paperwork to confirm your identity, when it cannot be performed automatically. So, if this does happen, you are able to email or fax over the documents. This all means that if you are in need of a cash loan to help with emergency finances, you will be able to get the cash quickly, without any of the hassle that can normally come with having to deal with copious amounts of paperwork. Everything that you will need to apply is all available online 24 hours a day and seven days a week. Our whole loan application process only takes a few minutes and you should be presented with an almost instant loan decision. Once your loan has been approved, all you will have to do next is wait for the cash to be advanced into your account. In most cases this can be within the hour, so you are able to use it for whatever you need it for. Do Payday Loans Have To Be Paid Back On Your Payday?Despite their namesake, payday loans don’t always have to be paid back on your payday. Instead, they should be repaid at an appropriate time for you to ensure that you will be in a position to pay the loan back. This does all depend on the lender that you go with, but you should be able to pick a repayment date that’s most convenient for you and your circumstances. Most people do pick their payday as the best day to pay their loan back, as it is usually guaranteed that they will have sufficient cash to afford the payments. Obviously, extending your repayment date may seem like the most convenient thing to do, but don’t forget that you will have to pay out more interest. In the long term, extending your debts over a longer time period isn’t always the best idea. Trying to solve your money troubles as quickly as you can is generally the best course of action. To make things easier, most lenders will provide a service where they take out the repayments automatically on the day that you choose. So, ensure that you correctly fill out the date for the cash to be taken out, so there are no further difficulties. If you do not have enough cash in your account, then the payment will fail, which could result in a missed payment fee, which isn’t the outcome anyone wants. It’s important to remember that no matter what happens, you will have to repay the money, so it’s a good idea to pick a repayment date that’s right for you. Payday loans are also only intended to be small sums of money, for short amounts of time, so should only be treated as such. They shouldn’t be used as a way to solve long term financial issues. These types of loans are only beneficial to the customer if used as a temporary measure, and the customer needs to ensure that they are responsible for their own finances.
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