With the fast-paced urbanisation and the improved lifestyle, there is often an imbalance between one’s earning and the expenditure. The population growth and the less number of jobs available in the market have aggravated the problem further. Thus, short-term loans such as the payday loans direct lenders have gained popularity. These loans are designed to help people in distress.
Key areas of payday loans from the direct lenders:
To begin here with the right mindset, you should know that there are several types of lenders in any market. Direct lenders such as the bank and other financial institutions and indirect lenders like the agents are there. The problem with the later is that they levy agency commission on your loan amount and thus, tax you more in your financial distress.
On the flip side, direct lenders offer a couple coveted benefits such as the following and do not ask for a commission on the loan amount. However, financial institutions like banks have its’ own constraints for the loan disbursement. For instance, you have to follow a lengthy process that begins with filling up a lengthy form and wait for the process to complete that might take days and even months. But, we shall discuss only those direct lenders here who offer exclusive privileges even to those who have a bad credit score.
Fast approval: When you need a loan, you usually have a sense of urgency for money, maybe you want to pay up your hospitalisation bill. In other words, you need the money fast so that you can manage your liability in a decent manner. You will be happy to know that payday loans direct lenders have a foolproof mechanism for disbursing the loan amount directly into your account and the disbursement never takes more than 24 hours. On top of it, you don’t need to fill up any cumbersome loan application form by visiting the offices. Instead, you apply online just filling up a tiny from there. The rest will be taken care of by the lenders. It further connotes that you will never be contacted over the phone or in person so as to verify your personal details.
Transparent loan: The loan application and disbursement are completely transparent. It means you can clearly see the amount of loan you are availing and the interest that you would pay over the tenure of your loan.
Flexible loan: Online calculators are available on the site. Choose your loan amount and its repayment period. The final calculation of the interest amount and the total payout will flash on the PC screen instantaneously.
Free application: There is no loan application fee here.
No guarantor loan: You also don’t need a guarantor to avail this loan. Just apply online and wait to hear from the lenders within next 24 hours. This may sound awkward but true that loan approval and disbursement here can take place within just 5 minutes.
Therefore, payday loans direct lenders are silently working in the best interest of those who may have been a victim of things beyond their control. Believe it or not, these payday loans are a privilege to many who are now struggling to make the odd ends meet.