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Friday, December 14, 2012
The rising fast of pay day loans due to instant online access and due to same day payment.
Current economic downfall has seen the rising demand in pay day loans in South Africa. Until 2010, this kind of loans were unfamiliar in SA. People were just offered short term loans which were to be repaid within a period not more than six ( 6 ) months. The short term loan would attract higher interest rate than the long repayable term loan. With the coming into the country of the Uk known Wonga, payday loan corporation, an increase has been noted in the lenders offering pay day loans.
The question one ask is what exactly led to the inception of payday loans? It appears that hostile economic situation experience in recent years, affected the manner in which people were given credit. Consumers were, due to this circumstance, forced to change the way in which they borrow money. Economic turmoil forced creditors to tighten they lending conditions and requirements, and further a large number of consumers were heavily in debt after borrowing too much.
Borrowing too much by consumers means, now they would no longer be qualified to apply for personal loans. This ultimately created a fertile market for payday loans. This on the other side gave consumers some immediate relief in form of small loans to help them with the money they desperately need. For these reasons, pay day loans are in demand in South Africa.
IS THERE ANY GOOD IN PAY DAY LOANS.
Pay day loans are good alternatively to your ordinary loans because of the fact that you save considerable interest on the loan. Pay day loans or Salary advance are payable within a circle of not more 32 days. This in effect means interest is applied to your loan for no more than 32 days. The most important aspect about them is the time within which you can get these loans. Most are payable on the same day you applied for it.
Further pay day loans are available fast and online. In Corporations like Wonga, you can apply for a instant pay day loan and get paid the amount the same day. Very quick indeed. Wonga boost payment within 1 hour of applying. If you are a green earth fanatic, you also get the loan thru a paperless online submission.
Pay day loans in South Africa will definitely close the gap between the likes of 60 day installment loans and 6 months small term loans. With many more people unable to be approved for personal loans, we will see a bigger and faster increase in payday loans.
Wednesday, December 5, 2012
We are able to meet our daily monetary commitments through our hard earned money. It is for this money that one is able to buy a house, Car and some furniture. Most importantly, we buy food and pay for other expenses such as school fees and municipal taxes to mention just a few. Personal loans help us in times of need to get money.
Cash Loans, Micro loans, Pay day loans, Quick & Fast Cash loans, Instant Loans and long term loans are all personal loans.
Personal loans whether you call them cash loans, micro loans, fast quick loans, pay day loans, cash advance loans, online loans ect. are a way people who are in need of money fast and quickly are given financial assistance. While banks some years back were the only institutions granting personal loans, with strict requirement, the private sector in form of saw the demand and the need to provide personal loans here in South Africa.
When the private sector become in lending money in form of personal loans, these loans were referred to as “cash loans”. Previously, private lenders were lending money to people on a very small scale with regards to the cash amount. As long as you were employed and the borrower can be able to get the cash loan amount on your salary date, cashloan would be given out to you. The cash money was given to you as an instant cash loan. You would be given cash at the office of the personal cash lender. It is for this reason that they were called cash loans. This means you get fast, quick and instant cash.
The circumstances have since changed. Private loan companies are now offering a high amount to cash loans to the public. Some are even matching bank pound for pound. Some of these lenders offer up to R150,000.00 in personal loans. There market has really grown with high competition for cash loan lenders.
For those who cannot afford cash loans with long term repayment, pay day loans an option. These are basically small fast loans which are payable when your salary is paid. You are given a cash loan until your pay day. So if you are declined for a long term cash loan, pay day cash loans will give you some help.
Due to financial pressure and the need to pay bills immediately, people now started to search or rather demand fast, quick and instant loans whether cash loans or personal loans. Some deadline forces you to apply for a fast and quick loan. It is even easier when these loans are offered online. Getting a fast quick and instant cash loans online with make sure that you have your cash immediately and same day. South Africa is not exempted from fast loans online like the rest of the world. Technology has seen the fast need and demand for loans online. People no longer want to do the traditional personal cash loans application. They want a fast and instant loan application process.
If you really want a loan in SA, you may want to apply using the fast possible method here, which is online loan application. You complete an application online, upload documents online and you cash loan application is considered and approved fast.
Friday, November 30, 2012
Are you running short of money? Do you need money for your holiday? Borrowing money can help you to bridge some financial gaps and to get solution to your cash problem. Think proper when you need a cash loan. Apply for fast instant cash loan when you really need.
When you borrow cash, you still have an obligation to pay it back. It is therefore a credit advanced to you and in order not to get unnecessary debts, borrows money for something serious. Instant fast cash loans can help you to get out of a serious financial situation. How to you get these cash loans? It is quite easy and simple to borrow money.
You can go to your bank and lend money or you can go to micro finance companies to get a loan. Borrowing from non-bank institutions is good as you are almost guaranteed of the loan been approved fast. Most people want instant fast cash loans to pay for outstanding school fees, buy school uniform or buy school stationery.
It is also possible for people to get fast instant cash loans to pay for the charges of car repair costs. You get the money instantly. When you get money from loan lenders, it is important to determine whether you cash loan requires security. It is also important to find out the interest rate they will charge you for the cash loan. Interest charges may vary according to your credit bureau record. People with cleaner record will get the lower interest rate charge and people with bad ratings will get charged higher interest. If you really need cash loan fast, the interest rate should not be a bar to getting an instant cash loan.
Once you have determine the interest payable on your fast cash loan, you may proceed to apply online for the cash loan. Online application provides you with fast instant results for you loan application.
Wednesday, November 28, 2012
Financial depression is the cause of more demand for cashloans. Because of a sharp increase in the costs of living, salaries are unable to match expenses. With salaries been unable to last longer until the next pay day, cashloans are the only way people can survive. If you want a cash loan, you may have to consider searching online for a cash loan
Online cash loans are basically easier loans that you find through in internet search. There are various loans online that you can apply for. Depending on your need, you may apply for a pay day cash loan, cash loans of up to R15000,00 (usually called short term loans) and loan repayable for a period of up to 60 months (called long term loans).
You will make a choice of the cashloan you want to apply for online. The good thing about online application is that it will saved you time. You are spare the time of going to a cash loan micro lender to fill lengthy application forms. It also save you some few bucks that obvious you need to save to pay for those expenses behind.
Remember, when you apply for a cash loan online, you still have to make sure that you meet the micro lenders’ lending criteria. The most important requirement of all personal loan lenders is affordability. No company will lend you money if you cannot afford to pay it back. After all, micro lenders and banks are in the business of making profit out of lending you money. No company would approve you loan application if you cannot afford to back it back monthly. Micro lenders and banks alike are not some good Samaritans that give out cash to people who are begging for it.
Once you can pass the affordability test, you cash loan application online will be approved. Once approved, the money will be paid into your bank account, and you will have some relief for some few days. The obligation is now for you to start servicing your debt.
After all online cash loans provide some fast relief for people who urgently need money.
Thursday, November 22, 2012
Sometimes when you need a loan, you need it the same day. This might be because you need to pay something immediately. Is it possible to get a same day cash loan? Yes, there are many lenders who can give you a loan the same day. It depends on the kind of cash loan you want.
Most same day loans are pay day or cash advance loans. You are given a cash loan same day which you have to pay back at the end of the month or when you get paid your salary after you took the loan. Most of the loans can be access online and they are very fast. These are usually small loans. However, most companies would conduct credit checks to check you payment records. Once approved, they are paid into your bank account within few hours, same day.
Other same day loans are short term loans lending up to around R10,000 loans. In order to get approval same day, you will need to bring along all required and necessary documents to apply for a cash loan. Although these kind of loans do not conduct credit checks, they consider your affordability to pay back your sameday cash loan. The repayment time for the cash loan might be anything from 1 month to 12 month. Usually, same day cash loans would attract higher interest.
Another kind of same day loan is your long term loans. There are also many lenders who you approve your cash loan same day. What happens is that you will complete your loan application online and within hours your loan application will be approved subject to you providing the lender with certain documents to proof your Identity, bank account and your residential address. Once you submit these documents your same day loan will be paid into your bank account. The payment here will depend on how fast your furnish the requested documents to the micro lender.
Same day cash loans can provide the much needed relief if you need c ash loan fast..