1 Hour Faxless Payday Loan
1 hour faxless payday loans are sought by persons who have got entangled in financial problems. The lending institutions or lenders who provide 1 hour faxless quick loans work quickly as they have enough staff or employees to handle their customers and loan applications apart form asking for very less loan application requirements. These lenders do not conduct any financial background checks or research on the credit ratings and scores as they are part of the criterion to offer these loans. Hence the lenders who offer one hour faxless quick loans charge a bit higher interest rates than other loan types.
In order to become eligible for 1 hour faxless quick loans, the loan applicants however should satisfy certain basic requirements like should be more than eighteen years of age, should be the country’s citizen, should be employed (permanently) in a reputed firm or company with a regular income of not less than one thousand US dollars per month. Certain lenders might ask for the applicants to have served his employer for not less than three to six month’s time. This differs from one lender to another lender. Applicants might also be required to submit the details about his savings bank account number and his bank name so that the approved loan amount can be deposited in it which can be withdrawn for use by the loan applicants later or whenever required.
There are certain lenders who might even do credit checks on the applicants but this too differ from one lender to another. Not all lenders would conduct credit checks. Hence it is very much important to read the terms and conditions of the lenders before signing their contract. The amount that can be got as a loan can range from mere one hundred US dollars to one thousand five hundred US dollars. On the mutually agreed date, the applicants are required to repay the one hour faxless quick loan amount along with the agreed rate of interest. Applicants are normally expected to give a post dated check for the whole repayment amount to the lender or lending institution while taking the loan that the lenders would withdraw the amount on the due date.
It is a well known fact that this 1 hour faxless quick loans attract high interest rates as they are understandable when it comes to the risk taken by the lenders. Before availing these loans from lenders, it is always good to do a comparative study online which makes it easy to choose lenders who offer one hour faxless payday loans at a competitive rate of interest.
