Quick payday loans are gaining popularity. One of its indisputable advantages is its immediacy – you will receive borrowed funds in your account within a few minutes. Sounds incredible? We will show you how it works. Futher reading at annonce-fr.com
A quick payday loan – how does it work? A quick payday loan – who can receive it? A quick payday loan – how to get it? Quick payday – is it worth it?
A quick payday loan – how does it work?
Express payday loans are a type of micro-loans that are on offer from parabanks or other financial loan institutions. They usually involve small amounts and are incurred for a short period (usually one month).
A quick payday loan from the usual differs primarily in the speed of delivery of funds to the account – usually, the whole operation takes no more than a dozen or so minutes. That is why this kind of payday pay is often referred to as “payday in 15 minutes” or “payday in 5 minutes”.
The chart published on 13 September 2018 by the Credit Information Bureau shows that Poles are very happy to use payday loans. Over 80% of Poles, from January to July 2018, taking a loan for an amount not exceeding USD 1,000, applied for it to a parabank or other financial institution.
The payday loans of 15 minutes stand out from other micro-loans, also due to the speed of processing the loan application. Fast payday loans can be granted a few minutes after submitting the application. This means that not only the application itself will take the future borrower a little time, but also receiving funds to the bank account is very quick.
A quick payday loan – who can receive it?
The payday loan is already granted to anyone who meets all the requirements needed to receive a normal payday loan. This means that in order to apply for a microloan, you must first of all be a Polish citizen and be at least 18 years old.
In addition, you should be able to boast of positive credit history and show a solid, monthly income that will allow you to make timely repayments. In some cases, a quick payday loan can also be granted to a person who has outstanding debts, in which case it is called “quick payday loan without Credit Checker” or “payday without certificates”.
Quick payday loan account – you probably have to type the password “payday payday” into your internet browser more than once. The pace of receiving money when we are in crisis (laptop flooding, car repair) is extremely important to us. Therefore, if you want to receive funds quickly, it is a condition that you should meet to have an account in electronic banking.
Why is this so important? You will need to verify your identity when applying for a loan. Currently, when submitting an online application, you can do it either by using a verification transfer or by text. If you have your own bank account, it greatly simplifies the whole procedure.
In addition, if you want to receive funds quickly, try to submit an application during the financial institution’s working hours. It’s best if you check this information on the parabank website before submitting your loan application. Most often, such institutions work 7 days a week from 8:00 to 20:00, but on weekends much shorter.
The last thing you should pay attention to before submitting the application is the name of the bank from which the lender orders transfers. It may turn out that the borrowed funds will not be credited to your account until the next day, because you have an account in a bank other than the lender, and all potions on that day have already been made.
A quick payday loan – how to get it?
Applying for a quick loan looks the same as a regular payday loan. In the first stage, you have to decide which parabank offer you want to use. There are many loans available on the market and it is worth comparing them with each other, at least because of the high costs they carry.
This task can be facilitated by credit rankings and payday loan comparison available on the Internet. You will then need to complete an online loan application available on the parabank website. Filling out the form will take you literally a few minutes – prepare your ID card because you will need it.
In the application, you will be asked to provide such data as PESEL, name and surname, series and number of ID cards, place of residence and residence. In addition, you will have to indicate what kind of income you earn – whether it comes from a contract of employment, disability, old-age pension or if you are unemployed.
The fastest payday loans are delivered to your account after a few minutes. After submitting the application, you will receive an e-mail with a decision and if it is positive, the funds will be transferred to the account you provided in the credit form.
Quick payday – is it worth it?
Fast payday loans have many advantages. The most frequently mentioned is, above all, speed of action – not only submitting the application but also receiving the funds takes a few minutes. In addition, if you are a new customer of your chosen parabank, then there is a good chance that you will be able to take advantage of the free payday pay.
Thanks to this, you will finally have to pay back exactly as much as you borrowed and you won’t pay a single dollar anymore. Therefore, taking into account the fact that such loans are primarily intended to save us in crisis situations, it can be said that 100% fulfill their task.
However, it should be remembered that these types of financial products are not the cheapest. The pace of operation of the parabank and the low requirements set for the future borrower mean that in some way these institutions must protect themselves against possible lack of repayments.
Therefore, when deciding on payday pay, it is worth asking yourself whether you need it and will you be able to pay it back in such a short time? If so, remember one more thing – choose the most profitable one.