Whether it a festival celebration or
a family function, you will find yourself in crunches of money shortage. In
that case you have to look for options to get instant money in to your bank
account. Various options available to you are:
1)Bank loans: You can apply for
loans in banks when you need money. But for that you have to go to them
directly and submit an application form. The form will be processed and you
have to wait for the final approval. This will take at least five to seven working
days. Also you will be told to submit some guarantee so that the bank can get
their money back if you do not repay on time. If you do not have any guarantee
then you will be said sorry or else a vary low loan amount will be approved for
you. So if you need immediate money, this is not an advisable option for you.
2)Loan sharks: Loan sharks are loan
providers who are operating at a place without any registration. They can
provide you with immediate money but with very high interest rate. Also the
interest rate can change without any prior notice. The main reason for their
such behavior is that they are not registered so there is no worry. So do you
want to get yourself crunched by hands of these loan sharks? Definitely your
answer will be no. Many countries have even banned these loan sharks but still
when you are surrounded by financial problems, they will somehow find you and
will take advantage of your situation. You will be given so much offers that it
will be difficult for you to get out of it. So it is clear that this is not a
valid option for getting rid of financial problems.
3)Payday loans: Most of us are
unaware of this form of money. These are short term loans which is mainly
useful to remove emergency cash needs. The process of applying is also very
simple. Most of the payday lenders have online reach through their website. You
just have go to their website and fill an online application form. After
filling the form you can expect money into your account in a matter of few
hours. So it is much better than above two mentioned methods as you do not have
to wait for the money and also you can apply by sitting at your home. No need
to go any where for applying. But payday loans also has some loop holes. The
interest rate charged is very high. In finance terms it is known as APR. So if
you delay the repayment the interest can really grow to a new height.
But instead of all these flaws, if
you are aware of the nature of payday loans that it is a short term loan and
you need to repay it on time, you will be in a profit. Also all the lenders are
registered organizations and you can find these information on their websites.
So no doubt in the fact that these are trusted source of money.
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