Installment Payday Loans
An installment payday loan is a way that you can have the extra money you need, in a timely fashion. Many people now get paid every two weeks, but find that towards the beginning of the 2nd week they are lacking the funds to either pay their most important bills, or don’t have any money left over for the important items such as food and clothing. That is why installment payday loans can be so helpful. They will provide the money until your next paycheck arrives, giving you the time and cash to pay bills or buy what you need to get you through.
Using an installment payday loan will allow you to be able to have cash at your fingertips when the company that you choose advances you a certain amount of money. The amount they usually give you is between $500 and $1000 depending on how much you get paid at your present job. It averages out to be about 30% of your paycheck. The information they require is minimal, such as your bank account number, a copy of your most recent paycheck, and a copy of your driver’s license or state I.D. You can apply for an installment payday loan from the comfort of your own home. It takes only a few minutes on the computer or the phone and you can have your money quickly.
The interest rates vary depending on which installment payday loan company you use, but the fees range between $10 and $30 per every $100 that you borrow. It may sound like a lot but if you have the choice between paying an over the limit fee on your credit card or being late on your rent, then you’ll find that the interest rates they charge you are considerably less than what you’d pay if you didn’t have the money available to you. Most times the installment payday loan is simply deposited to your checking account, and then when you get paid next they take the money out the same way. Installment payday loans give you the ability to have what you need, when you need it, without waiting for another paycheck to arrive.
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