In a tight fix? Need quick cash? An instant payday loan may be the solution you need to give you the relief you seek. An instant payday loan is actually a cash advance on of your very next salary so that you may deal with some pressing financial obligations in the here and now. An instant payday loan is a quick answer to the burdens you unexpectedly encounter.
You have to remember, however, that not everyone can avail of an instant payday loan. There are some requisites before you can be considered as eligible for the said instant payday loan, and if you do not meet these requisites, you might as well bid your chances of securing an instant payday loan goodbye.
Let us take a look at some of the things you need to get an instant payday loan.
* To be granted an instant payday loan, you would need a regular employment. Proving regular employment is easy. You only need evidence of length of stay, or length of probable stay, preferably your employment contract. But since an instant payday loan is a remedy, a letter from your employer to that effect would suffice.
* To be granted an instant payday loan, you would need regular income. Instant payday loans are conditioned on your next salary, so there must be a showing that there would be a subsequent payday from where the instant payday loan can draw from.
* To be granted an instant payday loan, you would need to be of legal age. An instant payday loan takes the form of a contract, and as such, only legally emancipated people can partake of instant payday loans.
* To be granted an instant payday loan, the amount you wish to borrow must not exceed $800 for some states, and $1,200 for others. The maximum amount of instant payday loan borrowings does differ in various states.
* To be granted an instant payday loan, you should be able to pay the applicable interests rates. These would be somewhere in the range of $15 to $30 per $100 of instant payday loan so borrowed.
Instant payday loans are called “instant” because they are simply such, both good and bad. Instant payday loans are “instantly” approved and delivered. If you apply for an instant payday loan during a weekday, for example, you’re sure to be granted an instant payday loan the next day.
Instant payday loans also have “instant” maturity dates. Instant payday loans become due and demandable come the next payday. Whether this period of time is enough to allow you to prepare your budget would, and should, be critical in your decision of whether or not you should avail of an instant payday loan.