With fast payday loans you may choose to cover small, unexpected expenses while avoiding expensive rebound-checks, late fees and late payment penalties.
The relative ease of these one hour payday loans have made them extremely popular to people nationwide. And with the internet, you can have an easy and speedy access to 1 hour payday loans. You can receive amount you need in your bank account without even leaving home.
Sure, payday loans can help you out when you are facing financial crisis, but there are several serious factors that need to be considered before you actually take out such a loan. Please read on.
Many people ask can I get a 1 Hour Payday Loan? No, this never happens because it is not practical. When applying for your payday loan the lender must take some time to explain all the terms and conditions to you as well as get your complete approval.
Even once this is completed it takes some time to process your approval and actually get your money into your bank account. Usually it takes one business day – no holidays or weekends.
So, if you apply in the morning and get approved, it is likely you will receive the money the next business day. Always ask your lender, once you are approved, when you will receive the money in your account. Plan on a 1 business day turnaround for your loan (excluding holidays and weekends).
Before taking out the loan, it is extremely important to ask yourself whether you will really be able to afford to pay back the loan when it falls due. Most payday loans are made on a two week to four week basis.
First, let’s take a look at fast payday loans. Usually the lender will agree to lend you a specified amount of money for a certain period of time. For example, let’s say you needed $300 to cover some unforeseen expenditure. You would borrow $300 and write out a postdated check for two weeks hence to cover the amount of the loan plus the finance fee, which could be around $80 for this size of loan. So, in this example, in two weeks the lender expects to be able to cash that check for $380 to recover the loan given to you. Failure to pay on a specified date attracts more charges.
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