Payday Loans No Credit Check- Tailor Made For Bad Creditors
Payday Loans No Credit Check- Tailor Made For Bad Creditors
The people holding bad credits hesitate to apply for the loans most of the times as they fear the rejection from the lenders, But payday loans no credit check are tailor made for these kinds of customers who need to improve their bad credit score. These loans are unsecured in nature. This means that they are not required to pledge any collateral security to the lender for the borrowed amount.
People with bad credit history can also apply for payday loans no credit check . There are certain requirements for the eligibility criteria:
The applicant must be at least 18 years of age.
He/she must be employed with steady source of income like social security, SSI, retirement, etc.
You must have a valid checking or saving account that has been open for at least six months in order to receive your no credit check loan proceeds by direct deposit.
It does not mean that people having no active bank account can not apply for these loans. They can choose to receive a paper check delivered through U.S. postal service.
The amount of loan the lenders can lend ranges from $1,000 to $2,500. But the amount you avail is determined by the lender by checking your monthly income and your ability to repay. If you earn more, you can avail higher amount for the loan. The period to repay the loan is from two to six months. As the amount you borrow depends on your income, you must list all the sources of income. It is not compulsory to show money from child support or alimony. It completely depends on the borrower.
Although these loans are free from pledging collateral but these loans have a higher rate of interest. You can search for the lenders online and ask for the free quotes and can compare the rate of interest of various lenders. After choosing the reasonable deal you can apply for these loans, which is a convenient and simple way.