Frequently Asked Questions About Instant Cash Loans
The concept of an instant cash loan may look simple and defines the entire idea on its own. However, as with anything that deals with finance, the answer is not that simple. There are many things that are usually in consideration when it comes to any kind of loan. The same applies to instant cash loans and there are several questions that people have about instant cash loans.
Instant cash loans have several benefits and it can help a person in terms of financial problems. It can also be gotten for emergencies or special occasions. No matter what reason a person has for getting an instant cash loan, it is vital to know the basics of the loan. Here are some of the frequently asked questions that people usually have about instant cash loans.
How do Instant Cash Loans Work?
An instant cash loan is a loan that you can get instant approval for. They are quick loans that a person can get and the working is like that of an ordinary loan. There is an agreed payment period, an interest, and other flexibilities that depend on the team a person is working with. Instant cash loans also can be used for any purpose the borrower deems necessary and is not tied to any particular use. The loans can be either a secured loan where there is collateral tied to the loan such as a vehicle and lower interest rates applied. Unsecured loans have no security in case of failure to pay. Therefore, the interest rates are much higher.
How long Will it Take to Apply for an Instant Cash Loan?
An instant cash loan is something that a person will want to receive in good time. That means that the whole process from application to the end should be first. The initial step is application and it is a simple process that one needs to carry out. Having the right documents beforehand can make the process even shorter. An instant cash loan application can take less than five minutes. All a person has to do is to fill out the required form and upload documents if asked.
How Long Does It Take for a Loan to be Approved and Disbursed?
After application is done, people feel that matters are no longer in their hands. It is up to the lenders to review the application, give a response, and disburse the money. That moment, a person can feel anxious not knowing where their fate lies. However, with instant cash loans, you won’t have such moments. The whole process is fast and smooth. Our team immediately looks at the application and you will get a response in no time. You can expect to get the money on the same day and an extra day for those who are getting the loans deposited to their bank accounts.
How Long Is One Required to Pay?
The time that a person is required to pay for their instant cash loans vary. However, instant cash loans have a longer payment period than payday cash loans. Therefore, people who are looking for a more flexible pay can opt for instant cash loans. The longer payment period means that the monthly principal will be less or that you can borrow more. Instant cash loans can also be more than payday loans. Apply for a loan today to manage your financial situation better.
How Can I Get Approved for an Instant Cash Loan?
The eligibility criteria of getting approved for an instant cash loan is similar to those of other loan types that we offer. To qualify for an instant cash loan, you must meet the following requirements:
- Age – You must be at least 18 years old to participate.
- Income – Applicants must demonstrate that they have a steady source of income. If they get Centrelink assistance, they must establish that at least 50% of their income comes from non-government sources.
- Statements – From the bank Lenders typically want read-only access to at least 90 days of bank statements to assess income and expenses.
- Liabilities – Applicants must disclose any additional debts they may have, such as outstanding loans or credit card obligations.
Can I Get an Instant Cash Loan with a Bad Credit Score?
People with bad credit scores usually shy away from applying for any kind of loans. A bad credit score can be due to poor payment in previous loans or lack of having taken previous loans. That means the creditor doesn’t know if the person is good to debt or not. However, as much as a bad credit score may look bad, that doesn’t mean that a person isn’t allowed to apply for an instant cash loan. There are instant cash loans for people with bad credit scores as well. The terms may be different from others. However, the benefits of an instant cash loan cannot be overlooked.
In line with bad credit score loans, people can also get a no credit check instant cash loans. This was designed for people with bad credit scores. In this type of loan, the credit score won’t be checked. However, the downside is that the interest rates are usually higher than those of whose credit scores are checked. If you have a bad credit score and are looking to get an instant cash loan, you can go for this option. It can help you improve your credit score and to deal with the financial emergency you have.
Where can I get Instant cash Loans?
Cash On Your Mobile is the go-to team for instant cash loans in Australia. We are a top-rated team and we have the best deals and interest rates. We care about our clients and we understand that financial situations can come at any time. That is why we ensure that our loans are easy to apply for and disbursed in good time. Members of our staff will guide you on the application process and we will be in touch with you throughout the whole process. We are licensed with our Australian Credit License Number being 474107.