Many people prefer to have a quick fix financial loan to get them through a crisis. However, sometimes a longer term loan makes more sense and works out a lot cheaper because the rate of interest on them is much lower. Short term loans are great but they need to be repaid between 15 to 31 days after you get them whereas a long term loan can be repaid up to 6 months later.
You need to sit down and work out whether a fast 1 hour cash loan is the best way of getting the money you need, or if a longer term loan would get you through your financial crisis more effectively.
The thing you need to remember is that a longer term loan will attract a lower rate of interest. You can even decide on how you receive your money. You can choose for the lender to send you a check, transfer the funds to your bank account or deliver the cash to your door, the choice is yours once your loan application has been approved.
To qualify for a 1 hour cash loan there are certain conditions that apply. These are as follows:
- You have to be a US resident
- You have to be over the age of 18
- You have to earn more than $1000 a month
- You have to own a bank account
- You have to have a social security number (SNN)
- You cannot apply if you are bankrupt
If you can tick all of the above then you can apply for a quick cash loan and have it approved immediately. If you apply online there is a very simple form to fill in with basic information about yourself. Then all you have to do is send the form to the lender you think the most appropriate for your needs. When your loan has been approved you can decide on how you want to receive your money.
There are no credit checks, no security is needed against the loan and after filling in the online form there is no further paperwork to fill out. You can start repaying 1 hour cash loans six months later and you have two choices of how to do this. You can either pay the loan off in full or make monthly installments on the money outstanding. The second option will work out more expensive as you will have to add the extra higher interest rate on the loan amount.
A bad credit cash loan is another option and a convenient way of getting some money when you really need it. However, this type of loan attracts one of the highest rates of interest because borrowers who apply for this sort of loan are usually considered to be very high risk.