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Posted on 08/31/2018 in Other

3 types of loans to apply for in case of emergency

3 types of loans to apply for in case of emergency

Find yourself in a financial trouble the past few weeks and considering to cave into your last resort—applying for a loan? Go head out and drive to the bank, however, if going there isn’t an option, there’s still a way you can apply for a loan in the comfort of your own home. Ever heard of online lending services?

Though these services can help you in this trying times, you have to acknowledge beforehand that resorting to loans can come with a cost especially if you have a history of failure to repay on time. Before you apply for any loan, make sure you’ll do anything to repay it on time so as to minimize late fees and interests.

If you’re still unsure what loan to get that is best suited for your financial woes, here are three common types of loans people apply for: 

Emergency Cash Loan

You’ll never know when things will go south and sometimes, these instances come may come at an inconvenient time. A quick cash loan such as the emergency loan should help cover for any unexpected expenses you have at the moment, may it be a dental surgery, car repair, or sudden death in the family. This type of loan lets you borrow between $200-$2000. When approved, you’ll see the amount reflect on your bank account. 

Same Day Loan

If you really can’t wait even just one more day to borrow money, when you need it now, go for the same day loan. If you’re trying to pay an important travel expense but short on cash and you need the money at the very moment, the quick online application process of this loan got your back. Take note, though, that this loan is payable within or a little over a month. Only resort to this if you know you can pay it back. 

Payday Loan

When the money you have on hand is very limited and payday is still a week away, you can apply for a payday loan to help cover for your needs till your next paycheck comes. This type of loan is good for your short-term needs for a small amount of money. Also, this is repaid parallel to your pay date so better to be cautious with your spending habits. 

Before you dive headfirst into applying for loans, make sure that you’re responsible enough to keep up with repayment/s otherwise, you’ll find yourself in a debt cycle. 

About the author: Chie has spent time figuring out ways on saving money and stepping away from her go-to retail stores. She then became a writer for QuickCash Australia which offers hassle-free cash loans services. 

Posted by Chin Tac
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