With many types of loans, you may have to wait several days to a week for approval. When you need money fast, this is far too long to wait. A fast cash loan is exactly what it sounds like. You apply online and receive your cash within one day (if approved, loans are subject to an assessment of suitability and affordability). Cash Loans can take between 1 and 3 days to process depending on your financial institution.
Australian Cash Loan
A cash loan is slightly different to a personal loan. The intention of this type of loan is to get money into your bank account fast, which means that you can meet payments sooner rather than later. All you need to do is ensure that you the money in your bank account the next time your pay day rolls around and you can pay off the loan.
Applying for a cash advance is simple. You need to fill in a short application form giving some of your vital information (i.e. name, address, phone number and the amount you need to borrow), you then hit a little button and the software does its work. If you have been accepted for a loan then you will need to fill in a bit more information (i.e. where the money needs to go) accept the terms and conditions and the cash loan will be in your bank account normally within a day (it can take 1 to 3 days sometimes). Now compare this to applying for a personal loan where the application process can take a number of weeks and you will easily see how quick a personal loan is to apply for.
The main difference between a cash loan and a personal loan is the amount of money that you are able to apply for. A standard loan often provides a lot more money, although of course you will be spending a lot of time waiting for it. A cash advance is designed to provide you with money when you need it the most, hence the amount of money that you can borrow is considerably smaller, although most cash advance companies will be able to lend up to $1500 in cash within 1 to 3 days.
One of the biggest benefits of a payday loan is that, even if you have a poor credit history you can still apply. Understandably, often the people that need the money most are those that have poor credit, so why should they suffer? When you apply for a cash advance online, you lender will assess your circumstances for suitability and affordability.
You can use your cash advance for anything that you want, just remember to pay it back on time. However, due to the slightly higher interest on a cash loan you should bear in mind that it shouldn’t be used for every situation, only when you need it for emergencies every so often.
Why not fill in the application form and apply for a payday loan today?