Is Cash Till Payday Loan The Right Option For You?

Can cash till payday loan solve your financial problems? Yes, for the time being, it can. Unfortunately, most Americans live a consumerist life and the paycheck is almost exhausted on the very day you get it. After all, the monthly bills and payments that have to be made at the beginning of the month, where is the money to save for any emergencies that may arise before the next paycheck arrives?

What Is Cash Till Payday Loan?

When you find yourself in such a situation as described above and suddenly your spouse meets with an accident, or your car breaks down, you don't know where to turn for help! But now, help is available for everyone in the form of cash till payday loan. Also called cash advance loan, this is a short-term loan usually for an amount less than $1500.

It is true that you can get personal loans from banks too instead of going for a savings account payday loan. But let's face it, if you need cash urgently, can you count on the bank to provide it? Bank loans usually have lengthy procedures and take more than a couple of days for approval. In such a situation, cash till payday loan seems like the only solution.

The payday loan company usually does not bother about making credit checks on the applicant. This is why these loans are approved within hours. You can actually have the money at your disposal within 24 hours of applying for the fast cash loan.

Can You Avail One Hour Payday Loan?

Cash till payday loan is at disposal for almost everyone. The eligibility criteria are so simple and basic that almost everyone is eligible. To be eligible to apply for a cash advance, you should be an adult American over 18 years of age. You need to hold a checking bank account and be in a steady job that pays you at least $1000 per month. If you satisfy these conditions, you can easily get a savings account payday loan.

The cost of getting cash till payday loan is either calculated as a percentage of the loan amount or can be a fixed amount. Usually the cost varies from $15 - $30 for every $100 that you borrow. This is OK for a one month loan. But if you continue to rely on cash till payday loan as a means to finance your lifestyle, you could soon find yourself falling into a debt trap. So care and caution must be employed when using payday loans.