Do You Need Cash Fast? Get a Payday Loan

01 March 2012 - Which Way to Pay

Email Article Print Article

Do You Need Cash Fast? Get a Payday Loan

With banks getting increasingly stricter on who they lend to, many people in South Africa are seeking out alternatives. A payday loan is an unsecured short term loan and they are becoming an increasingly popular financial product. In essence, with a payday loan, you borrow a small amount of money that you pay back, plus interest on your next payday.

They are ideal for those who need access to fast cash and are best used in an emergency. You might need to pay off a bill or you need urgent home or car repairs that you canít pay for right away. Most people are eligible for a payday loan, even those with a poor credit rating. Although exact requirements may vary generally speaking the minimum requirements are that you receive a regular income and have a current account.

The main disadvantage of a payday loan is the interest rate. The interest rates are very high compared to other types of loans because they are designed for short term borrowing. You could find that if you default on paying back the loan the charges and costs can easily mount up and you could risk falling into debt.

The most important thing to remember is that payday loans are never the solution to any long term financial problems you might have. You must ensure that you can pay back the loan within the loan period and then make sure you budget the following month so you lower the risk of falling into debt.

Make sure you compare payday loans and weigh up the different features of each one as well as the interest rate given. Always read the terms and conditions thoroughly before you commit.



Related Links:
• Info Library
Cash Payday Loans Information
• Latest News
For regular news updates
• Loans
Compare different types of Loans


Compare Foreign Exchange and Currency >>

Compare Loan and Debt Products >>

Compare Cards Products >>

Compare Money Products >>

Compare Insurance Products >>

Always dreaming of that brand New car , Vehicle loans can help you achieve just that .
31 August 2018
Which Way To Pay
Vehicle Loans are there to help you to be able to purchase that new car
Everyone wants that special vehicle , but cant always afford it straight away
18 April 2017
Which Way To Pay
We all know its nice do drive a new car , but not everyone has the cash available , Vehicle loans are the answer
As we all know our pets become biog parts of our family life , so we need to make sure we are covered for any unexpected accidents or illness.
08 August 2015
Which Way To Pay
Pet Insurance has become a major part of many households. This is taking out to protect our beloved pets to any mishaps that may happen .