APR Rates on Pay day Cash Loans
Itʼs no secret cash loans have high interest rates. But they are also fast to get. Cash Loan is a short term cash advance until your upcoming pay day. These loans are not based on your credit score or history. Lenders require just a few things from borrowers: permanent residency of United States or a US Citizenship. You need to be employed and provide proof of income, and you would need to provide a bank account number since that is where you will receive your deposit of your cash loan, and also a good contact number for you.
Itʼs not always comfortable to ask friends or family for a cash loan. So we make it easy to apply for a loan and itʼs secure and confidential.
Lenders work to help you get approved and receive your cash quick. It costs approximately $100 for two weeks with about $18 fee which equals to about 484.45% of APR. A $100 returned check plus $45 overdraft fee equals to a 1251% APR from your financial institution. A Credit Card balance of $100 with a $26 fee equals to a 678% APR, and if your bill of $100 is late plus a $50 fee charge will equal you up to 1304% of APR. These data show that cash loans are a good option when you are in a desperate financial situation only for shot time.
However, be smart when getting a cash loan. Use it for what you have intended it to be used for, have a plan on how you will be repaying your loan before you accept any cash transfer. A cash loan is not a gift, so donʼt treat it like you donʼt need to pay it back.
At iloansnow.com we make it simple to fill out an application, we provide detailed information about rates, fees, state laws, and any other answers you may want to ask about cash loans.