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4 Top reasons why you should prefer 3 month loans over payday loans?
The concept of 3 month loans is slowly substituting payday loans. This article lists four prime reasons why one should prefer 3 month loans over payday loans for the knowledge of readers of this article.
Urgency of cash always drives people to the walls. In such times, normal tendency suggest that one should go for payday loans. However, opting for payday loans in such situations might not be the right decision in such situations. Hence, what to do then? In such cases, if better sense prevails, focus should be on finding a deal that gives ample chance to repay the loan but not without putting much stress on sources of income of the borrower. Obviously, finding a short-term alternative of this type isn’t that easy but then as the popular adage goes, ‘Where there is a Will there is a Way’.
3 months loans are known to be the best alternative to modern-day payday loans. Reason: There are plenty but few have been listed here.
Point No.1 – Longer Repayment Tenure
Yes! 3 month loans become an obvious choice for people who need an instant credit help but are not in shape to repay it back almost the same way. As the name suggests, the time-period offered is sufficient to repay any sort of short-term debt. Clearly, longer repayment tenure makes them the most sought-after loan product in the industry today.
Point No. 2 – Comparatively Low APR
Another place where 3 month loans earn brownie points is on APR front (also known as Annual Percentage Rate). Normally, as everyone knows, payday loans are secured against next month’s paycheck of the borrower. But even then the APR is on the higher side. However, in case of 3 month loans, APR is far more relaxed then its payday loan counterpart because of the time duration.
Point No. 3 – Larger amount can be quoted!
Under 3 month loans banner, one can quote a comparatively higher sum as loan amount than in case of payday loans.
Point No. 4 – Room for negotiation with lender!
In case if you have missed the deadline or you are set to miss the deadline of payment of instalment. 3 month loan give you an option to talk to your lender and explain things to him/her and ask for an extension. But remember, the decision to extend the deadlines or granting such favours rests with the lender only. Although the same chance is also available to lenders under payday loans but then you don’t have much time at your disposal to ask such things.
Meanwhile, the fourth point is applicable if the borrower wishes to seek waiver for certain fraction of interest or amount.
If one will gave a close look to these differences, he/she will surely be able to figure out why one should prefer 3 month loans over payday loans.
Immediate Cash Loans Instant Solution for Cash related issues
As the months end draws near, you are burdened with an urgent car repair coupled with a medical emergency of one of your family member. With both these situations equally important, you are at a loss as to which problem should be treated with priority. To top it all, you are facing a shortage of funds leaving you in an even more perplexed state of affairs.
With immediate cash loans available, you can breathe easy and calmly face the situations in stride. The money lenders of cash loans very well understand your requirement of availing the cash at immediate notice and hence provide you with the same.
You are not required to visit a money lender or the financial institution personally. Simply log on to the Internet and conduct a search for online money lenders who would be interested to provide you with the same. As you search for them, request for an online quote as well. You could even collect these online quotes and conduct review on them to choose the most affordable immediate cash loan provider.
You need to consider the following criteria when availing an immediate cash loan
1.Rate of Interest
2.Repayment Term
3.Default Terms and Conditions
4.Approval and Credit Period
5.No credit check
6.No Collateral required
On the other hand, the lending party is likely to check you out on the following points
1.Age of the borrower should be over 18 years of age
2.Resident of UK
3.Operate a bank account for over 3 months
4.Employment status
In case you find an immediate loan quote suitable and wish to apply for the same, you are required to submit the following details while filling up an online form. The details being
1.Your name and address details
2.Contact details
3.Bank Account details
4.Employment details
In case your loan application gets approved, your bank account will be credited within 24 48 hours. You can then proceed with using the immediate cash loan for the preferred purpose.
Availing immediate cash loans has become accessible and convenient. You are not required to physically visit couple of money lenders and asking for loans. Instead you can state your requirement online and wait for the response to it online. This further means you can apply for loans at a convenient time irrespective of the time of the day or the day itself. With almost immediate approval and shortest possible time taken to credit your bank account with the required finances, immediate cash loan do live up to their name.