Payday Loans: What You Need to Know

Payday loans are becoming more and more popular these days. Why not? They give you almost instant cash within a few hours or a few days. There are sites that accept payday loans, giving you hassle-free, paper less transactions. Do you ve a bad credit report? No problem! There are payday loan plans available even to those who have bad credit scores. Are you interested now? Well here are a few more things you need to know about payday loans.



Payday Loan Requirements:



Requirements differ from one agency to the next. However, all of them require that you are eighteen years old and above. You should also hold a job that pays regularly. It can be monthly, bi-monthly, or weekly. It doesn’t matter. As long as the pay comes in every month, you are good. You also need a checking account. Without a checking account, you will not be able to secure your payment to the lender. The lender will refuse to process your loan unless you posses these three requirements.



Payday Loan Interest Rates:



This is very important: make sure you read and understand completely what you are agreeing to when it comes to payday loans. The interest rates can range anywhere from ten to thirty percent. You might think they are high now, wait till you miss a payment. Check our recommendation simplepayday.co.uk
ment Plans:



This will vary from one lending agency to the next. Depending on your repayment plan, you will typically have a maximum of 30 days to pay your loan. Make sure you read the fine print because some lending agencies will place double interest if you miss your payment.



It is also worth saying that not all online payday loan sites are real. Some online “lenders” may be fraudulent and may cost you more in the end. Author is an expert of simplepayday.co.uk, go herere interesting information