We are currently suffering a global financial crisis as the COVID-19 pandemic continues to cause havoc around the world. This has led to salary cuts, job losses, and the closure of many businesses. With all this happening, many people will be looking towards loans to help them get back on their feet.
The thing is, loans can be dangerous if you’re not in a good position to pay them off. On the other hand, payday loans are a sensible choice if you need a small amount of money to cover you until you get paid. As leaders in payday advances in NZ, Seed Cash discusses the popularity of payday loans.
Short-Term & Low-Interest Rates
Payday loans are short term; the average length is around two weeks. While it may put you under a bit of pressure to ensure that the loan is paid back by the stipulated date, you will save money thanks to the low-interest rates that come with short-term loans.
Almost Instant Cash
Once payday advances are approved, they are usually paid into your bank account within 24 hours. This is why payday loans are used frequently in financial emergency situations. In contrast, traditional bank loans can take around four or five days to clear and process.
So Many Lender Options
When it comes to payday advances NZ, you have a plethora of lenders to choose from. With hundreds of private lenders available, you can browse the web to find a payday advance package that best suits your circumstances.
No Usage Restrictions
Unlike some bank loans, payday advances do not have any usage restrictions. You can use the money for whatever you please.
You Don’t Have To Leave Your Home
With payday advances becoming so popular in NZ, you have many online options available to you. This means that you can apply for a payday advance from the comfort of your home. Filling out an online application takes just a few minutes. If your application is approved, you can have the money transferred to you without having to step foot inside a bank or an office. The ease of these loans is definitely one of the reasons why they’re so popular.
Bad Credit? You Can Still Get Approved
If you have a bad credit score, you may believe that you’ll never get approved for a loan of any kind. But payday advances do not require the same credit score standards that traditional bank loans do. While it’s not guaranteed that you’ll get approved, you still have a pretty good chance even if you do have a low credit score.
Need A Payday Advance Today?
If payday is taking a little too long to come around, or you need a smallish amount of money, a payday loan could help you meet your obligations. At SeedCash , we understand the importance of a quick response when it comes to your payday advance so give us a call today!