12 Months Payday Loans : Crafted for Short Term Needs
12 Months Payday Loans : Crafted for Short Term Needs
Mostly, people are in search of short term money when they have to face a financial crisis. They don't wish to carry the burden of loan repayment for a long time. The most common reason for this is that they don't want the tag of bad credit and hence want to get out of the repayment burden as soon as possible. 12 Months Payday Loans are designed especially for these people. They can borrow money for their short term needs and repay the loan amount within a period of 12 months only. There are various reasons for which these loans are used for. Some of them are payment of electricity bill, arrangement of some vacation, home improvement, payment of urgent medical bills etc.
There are a few fundamental eligibility criteria to be fulfilled before the borrower can avail for this loan. The conditions are that the borrower must be above the age of 18, should maintain a valid bank account and the most important condition is that the borrower must have a fixed occupation with a steady source of income. Besides, these 12 Months Payday Loans are easily available, and do not involve any widespread paperwork because the borrower has the option of applying to these loan online. The online application system makes things easier in the borrowers life because once he has filled out applicable details online and his lender has verified and made sure that these details are precise, the borrower can have the money transferred straight into his account within a period of 24 hours. The interest rate charged on these Loans is moderately high but due to its expediency, the very fact that all salaried workers are qualified for it irrespective of their credit rating and because they can obtain these loans immediately, with a minimal waiting time, the rates of interest are well worth it.