What Is A Guaranteed Payday Loan?

A guaranteed cash loan is short-term cash advance, mainly borrowed by the working class population for sudden financial expenditures. Such expenses, known or unknown, cannot be avoided. And with the salaried class, the essential problem is that their income is limited and expenses are more. Therefore, many times a need for extra money arises in such situations. This is where the payday loans come into the picture.

These loans are available to people over 18 years, with an amount of steady income more than the loan asked for and an active checking account for the last 90 days. The basic feature of a guaranteed cash loan is that neither any credit checks performed nor any document is required to be faxed. It does not matter whether you have a bad credit history or have undergone bankruptcy. The essential thing is - you need money and the lenders are more than eager to lend to you.

These loans are basically for a period of 14 days and can be extended if you so require but of course, with an additional fees. You can borrow anywhere between $100 and $1500. The interest rates vary from $10 to $30 per $100 that you borrow.

At the time of getting loan, you have to write the lenders a check of the loan plus the fee amount. If you are unable to return within the stipulated time, they will electronically transfer the amount from your account. However, if your account doesn’t have sufficient funds, the loan period will be rolled over for another 14 days with an equal amount of fee as that you pay when taking the loan.