Wire transfer payday loan is a type of short-term loan where you get the money directly deposited into your bank account. The due date for the loan is usually the next payday. It has emerged as one of the best ways to get some rapid cash to meet the temporary but urgent financial requirements. There are times in life when you need some instant cash but your monthly salary is still a few weeks away. In such tight situations, payday loans can come to your rescue.
These are the loans that are offered to you on the basis of your fixed monthly salary and your overall employment status. The biggest advantage of wire transfer payday loan is that you can use the borrowed amount for any purpose. For example, you can pay for your medical bills or car repair expenses, purchase school uniform for your kids, or spend in the marriage ceremony of your daughter. You can use it anywhere as per your requirement. The lender has nothing to do with the nature of the expenses. You can easily borrow somewhere from just a $100 to $1500. What is more, even the eligibility criteria are not very difficult to qualify for. Let me give you a brief insight into the same.
Like most of the other loan types, the minimum age limit to qualify for instant cash advance is also eighteen years. No matter how much your monthly income is, if you are less than 18 years old, you cannot qualify for these loans. Citizenship is also important. You have to be an American citizen in order to take advantage of the payday loans.
Your employment status must be stable enough to ensure the lender that you will repay the amount borrowed in a timely manner. Most lenders require your current job to be at least three months old. If you have changed your job and your current job is only one or two months old, you may have to wait for a couple of months before you could apply for the instant cash advance.
Bank Account in Your Own Name
Another important eligibility criterion is to have a checking or savings account in your own name. The checking account is the type of bank account where your salary is credited every month. Always remember that these cash loans are usually granted on the basis of your fixed monthly salary. The checking account works as a security for the lenders, as in most cases, they directly debit the amount of the loan from your checking account as soon as the same is credited.
The amount that you are able to borrow mainly depends upon the amount of your monthly salary. A higher salary will certainly help you qualify for a higher amount of instant cash advance.
Click here to find out how to apply for wire transfer payday loan easily online. It is possible get 1 hour payday loan in the Internet with simple application and the cash is deposited directly into your account.
For more information, please visit: Instant Loan