Savings Account Payday Loans

So you’ve run into a money problem, and you have no one to borrow from… Well don’t be embarassed! Tons of people out there run into issues just like you and it isn’t a terrible thing to have to borrow money to get by. You do what you have to do in times of need. You can’t help if you car breaks down or you run into unexpected medical bills. Sometimes borrowing money is the only option you have.

Now you have decided to take the plunge so you go searching online for some prospective loans. You will soon realize that the majority of the companies out there require that you have a checking account in order to do business with them. Well, if you’re like many people out there and only have a savings account then this could obviously cause issues for you! Which I’m guessing is why you’re on this page! Good thing you have us to help you!

The good thing about these loans is that almost everyone is eligible to receive them. Good credit, bad credit, or no credit at all, you can be taken care of. The terms usually consist of two to four weeks payed back in full plus the set interest rate (be sure to check on your contract). Usually payday lenders will state that you must have a minimum financial income of $1000 every month for the prior three months. They need to know that you are good for the money. Also you need to be over 18 years of age and you must be a citizen of the United States. As long as you meet the basic qualifcations for these payday loans your credit history or lack of will not be an issue.

Applying For Savings Account Payday Loans

When applying for Payday Loans no checking account is often a problem. So you must find a lender who will deal with the fact that you only have a savings account. If you don’t even have a savings account it will be even harder to find a lender. These days most everything is processed through the internet so you will need to locate a secure computer in which you are comfortable entering your personal data on. You must find a website of a lender who will accept savings accounts as a form of payment receiving.

Since you will be using computers and websites, you will not have to worry about faxing unless they require a copy of your drivers license. Even then though you can just scan it to a jpg picture and email it to them. Normal loan amounts requested are between $100 and $1000 but oftentimes you can receive an upwards of $1500. After approval you can expect a wire transfer of the cash requested within 24 hours or 1 business day to your account.

Be sure you check the APR (annual percentage rate) mentioned on the website of the lending company. Some lenders offer multiple options for repayment. For example cash, postdated check, etc. You can also authorize the payday lender to automatically take payment from your bank account on a certain day. We do not recommend this just incase you don’t have the funds in time.