You can get paycheck loan at any time of the year. Either you want to pay medical bills or pay other unforeseen expenses; paycheck loan can be obtained instantly.
Paycheck loans are basically cash loans that are borrowed against the borrower’s cheque dated the same as his or her payday. Thus, the paycheck loans enable the borrower to meet up all unexpected expenses in odd times.
A paycheck loan is a short- term loan that is offered for a period of two weeks to four weeks. This type of loan is also known as payday loan or cash advance.
Usually the maximum limit of cash withdrawal ranges up to $1000. However, the amount of cash advance offered to a borrower differs from company to company. It also depends on the overall credit report of the borrower. A borrower with good credit score can get high amount of cash loans.
Generally, paycheck loans are unsecured. The borrower does not need to offer anything as collateral to the moneylender or the lending organization.
Almost all lending organizations and private lenders maintain certain basic guidelines while granting a cash advance to a borrower.
- The applicant must be at least 18 years
- He or she must be in a job
- The applicant must get payment regularly
The procedure of obtaining a paycheck loan is very simple. A borrower can decide to visit a paycheck loan lender’s shop or look at the moneylender’s website. He or she can fill out a print application form at the lender’s counter; however, applying for paycheck loan online is very feasible. It is less time consuming and trouble free. Applying for cash loans online enables the borrower to carefully look into the websites of different online paycheck loan lenders. Thus, it helps the borrower to select the desired moneylender.
If you go for online submission of application form then you must furnish all details. After thorough evaluation, the applicant is informed whether he or she has qualified or not. If the application is approved then the cash loan is transferred in the borrower’s account.
The repayment process is also very easy. Once the borrower gets his or her salary, the total principal loan amount along with interest rates and service charges are automatically deducted form the checking account. The borrower may rollover the principal amount till next month but he has to pay interest of the present month in right time.
Maycash, a premier online payday loan provider, has been providing payday loans to clients. For almost five years, thousands and thousands of people have obtained payday loans from this lending organization.
This company provides various types of payday loans such as fast cash loans, cash advances, online payday loans, no fax loans, personal loans and many more.
Borrowers have to complete an online form of our company. After the submission of application, our team of skilled and seasoned professionals reviews it thoroughly. We always inform our clients via emails about their status. In case, the applicant is approved then one of the affiliated lenders of Maycash transfers the paycheck cash loan in the bank account of the borrower.