No telecheck cash advance is a
special type of payday loan where the verification process is done online
without even a phone call to verify the information you have provided while
applying for the payday loan. It is because of such great features that this
loan is the most hassle free way to obtain instant cash.
These short-term cash loans have
emerged as a real boon for those who belong to lower or middle class family and
whose only source of income is their fixed monthly salary. People with fixed
monthly salary sometimes find themselves in a very difficult situation in the
middle of the month. They may have to pay for some unexpected expenses when
there is already a financial crisis. For example, it may be some unfortunate
medical expenses, car repair expenses, home improvement bills, or just any
other type of financial needs that are temporary but urgent. This is where the
no telecheck cash advance can prove a great help for you.
How Much Amount Can Be Borrowed?
Different lenders have different
sets of eligibility criteria. The maximum amount that you can borrow depends
upon several factors, which may include the following.
• Your employment status
• The amount of your monthly fixed
salary
• The status of your checking
account
How Much Interest Is Charged?
Interest may be a matter of concern
for you when you know that the payday lenders usually charge interest at the
rate of 200%-300% per annum. However, if you calculate the exact amount of
interest that you have to pay, you will be glad to know that it is not more
than just a couple of dollars. Since the due date for the no telecheck cash
advance is the next payday, you actually have to pay the interest for as short
a period as one or two weeks. Let me give you an example. Suppose, you borrow
one thousand dollars on 22rd April and the due date is 2nd May when you get
your paycheck. It means you have to pay the interest only for the ten days.
Therefore, if the rate of interest is 200%, you only have to pay $54 as
interest which is not a big amount keeping in view all other advantages of the
loan.
Hassle Free Process
The process of application,
verification, and approval for the no telecheck cash advance is completely
hassle free. In most of the other loan types, from the time of application to
approval, the lenders make plenty of phone calls to you, which is sometimes
definitely very frustrating. The experience can be real awful if the approval
takes a longer time. On the other hand, the best thing with the payday cash is
that you do not have to receive or make any phone calls and still, you get
instant approval.
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