When it comes to a fast cash personal loan, which is the best one to get? Well, that depends on how fast you want it and how long you need to take to pay it back. There are two types of fast cash personal loans - the traditional payday loan and the quick cash loan. What is the difference? Let's take a look.
The Traditional Payday Loan
This type of fast cash personal loan is the best one to get if you need a few hundred dollars for just a few days. Funds up to £1,500 are usually transferred to your account within 24 hours and it is very easy to qualify. Many traditional payday loans can require payment in full within 14 days. Why? Because this is just long enough for most people to get their next paycheck so they can pay the loan back. Carrying a loan balance beyond 14 days can result in higher interest rates and additional fees.
The Quick Cash Loan (also called The 100-Day Loan)
This fast cash personal loan is the best one to get if you quickly need a few hundred dollars, but you would like a little longer than 2 weeks to pay it back. These loans can transfer up to £1,500 into your account in as little as one hour, and give you up to 100 days to pay your balance. This kind of flexibility is best for most people because payments can be stretched over a few months without penalty.
Again, both of these loan types can give you quick funds of up to £1,500 that will be directly deposited into your checking account. The difference is the length of time you have to pay it back. You can use the money for any purpose including medical or dental emergencies, auto repairs, last minute wedding expenses, groceries, rent, utility bill payments, legal fees, or any other reason. The lender does not care why you want the money. All they care about is how much you need, when you need it, and most importantly - when you will be able to repay. So if you can pay your balance in full in a few days, go for the traditional payday loan option. If you want the flexibility of a longer repayment period, the 100-day loan is the best one to get. Either way, 4 out of 5 people are usually approved.
The Traditional Payday Loan
This type of fast cash personal loan is the best one to get if you need a few hundred dollars for just a few days. Funds up to £1,500 are usually transferred to your account within 24 hours and it is very easy to qualify. Many traditional payday loans can require payment in full within 14 days. Why? Because this is just long enough for most people to get their next paycheck so they can pay the loan back. Carrying a loan balance beyond 14 days can result in higher interest rates and additional fees.
The Quick Cash Loan (also called The 100-Day Loan)
This fast cash personal loan is the best one to get if you quickly need a few hundred dollars, but you would like a little longer than 2 weeks to pay it back. These loans can transfer up to £1,500 into your account in as little as one hour, and give you up to 100 days to pay your balance. This kind of flexibility is best for most people because payments can be stretched over a few months without penalty.
Again, both of these loan types can give you quick funds of up to £1,500 that will be directly deposited into your checking account. The difference is the length of time you have to pay it back. You can use the money for any purpose including medical or dental emergencies, auto repairs, last minute wedding expenses, groceries, rent, utility bill payments, legal fees, or any other reason. The lender does not care why you want the money. All they care about is how much you need, when you need it, and most importantly - when you will be able to repay. So if you can pay your balance in full in a few days, go for the traditional payday loan option. If you want the flexibility of a longer repayment period, the 100-day loan is the best one to get. Either way, 4 out of 5 people are usually approved.
Article Source: Ezine Articles
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