*During normal business hours.
Emergencies can be devastating, especially when they occur in the middle or during the end of the month. So when you’re in a real emergency, you might be looking for Guaranteed Payday Loans.
Even if you plan for a sudden financial imbalance, you cannot control it and, at some point in your life, will end up with a lack of money. But, you can’t take a proper collateral-based loan for these situations. Firstly, you probably won’t need a very high amount. Secondly, the paperwork may take time, which is not an option here.
That’s where Nifty could lend a hand. While we can not guarantee approval until we have done a quick assessment, we may still meet your needs. This post will give you all the relevant information you seek in regard to guaranteed payday loans.
Payday loans, otherwise known as salary loans, cash advance loans, payroll loans, small-dollar loans, and payday advance is a type of short term loan. It’s a type of unsecured loan that uses your employment history and job status as the collateral for a small loan. Usually, the amount here ranges from $50 to $1000, which is enough to meet immediate money requirement or at least buy you time to arrange a more substantial personal loan.
However, the amount may vary from location to location and lender to lender. If you talk of Australia specifically, here payday loan often means loans that come under Small Amount Credit Contracts (SACC). Most company’s offering guaranteed payday loans will usually have a maximum loan amount of $2,000 for this type. The payback duration can last from 16 days to 1 year, but the fees will increase with every passing month.
A payday loan is different from a personal loan from a bank in multiple ways, including the following.
The most considerable difference is that for a personal loan, you often will need to have a good credit score and some collateral. On the other hand, payday doesn’t check your credit score. Therefore, payday is much faster, fast enough to meet your emergency requirements.
The procedure for a payday loan is often less, but there are still some requirements that you have to meet before availing it. The terms may differ depending on your location, but here’s the list of general requirements for a payday loan.
Like everything, payday loans also have some minor drawbacks. They still have benefits, but you should still know the limitations. These include the following.
The interest rates or fees for payday loans are often higher than general personal loans.
Payday loans don’t have collateral, so they are usually limited in amount and duration. So, in case of a financial crisis, you can expect them to cover the time between the initial situation and final loan availing, but cannot depend on it entirely. But then, you are getting a job-based loan, so things can’t be that bad.
Proper application is the key if your searching for guaranteed payday loans, no matter what responsible lending company you visit. The following are the steps you need to follow for this part.
With the verification of your documentation, you will be good to go. The lender will transfer the funds, and you can start using them.
The loan can be a real lifesaver that can help you in many situations. Here’s a list of advantages that it can serve you.
These benefits establish it as a very beneficial facility. Therefore, if you are running short on cash and need some help with it, consider a payday loan.
It should always be kept in mind though before applying or taking out any sort of credit, you should always consult a professional financial advisor or counsellor.
Here at Nifty, we always adhere to responsible guidelines. One of these guidelines means we cannot offer guaranteed approval for a loan application before we have done an assessment. To ensure we are responsibly offering our loan services, we will conduct a full assessment to determine an individual’s financial situation and ensure the loan is suitable and affordable for the customer.
In order to conduct a full assessment, there are several enquiries made to determine a customer’s financial situation. This includes but not limited to:
For us to offer a loan amount, we will calculate all general and living expenses as well as any other commitments such as other loan and credit card repayments. This is to ensure there is enough disposable income to comfortably fit in our repayments into the customers budget.
We use the latest in cutting edge technology and automate many of our processes which allows us to complete the assessment as quickly as possible all while acting as a responsible lender. This also ensures we do not offer a loan to a customer they cannot pay back and potentially put them in financial stress.
Since founding Nifty in 2016, Bell has continued to make waves within the local financial sector for his continued ambition and willingness to adopt emerging technologies.Read More
$5,000 - $10,000
$2,001 - $4,600
$300 - $2,000
* Not applicable. Small loans do not charge an annual interest rate.
** WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Different loans may include other payable fees and charges. All fees and charges will always be displayed on your loan contract.