What is common among the salaried people of Canada? Answer for this question is that they empty their wallet within the few days after they receive the check of the month. It may appear funny what it is really not. They are to manage their finance when the government of the nation is not showing aptitude in financial management. The market prices are all time high and rate of unemployment is at its top. What do the salaried people do when they find that a medical bill is to be cleared or fees for the kids are to be paid? What options do they have when the tiers of the vehicle are to be replaced or safety repairs in their home should immediately be completed? They approach their close friends and relatives. They do not secure immediate finance always. They are saved, in such situations, by same day loans.
Same day loans are advanced against the next month payday checks. This kind of loans is like that of short term loans. The amount of loans available comes within the range from $ 100 to $ 1000. The repayment tenure is allowed within 14 to 31 days. The borrowers are to pay interest for same day loans at higher rate.
The repayment tenure is short, but there is a provision to request the lenders for an extension in it. Nevertheless, the borrowers should not go for the extension. It is good to clear the loans within the stipulated date. The rates of interest are high, and this is why there is every chance for the borrowers to get overburdened with the growth in outstanding. Another important thing is that the borrower should not borrow from another source till they clear the loan amount of payday loans.
Same day loans are hassle free. The lenders do not bother for checking credit history of the loan-seekers. No collateral is required for same day loans. The borrowers are also not asked to fax document papers. The application can be submitted online and the loan amount is electronically sent to the bank account of the applicants immediately.
The applicant must possess checking account. The applicant is entitled for same day loans provided he satisfies the following conditions:
a) He must be employed in an officially authorized establishment and his monthly earning must not be less than $ 1000.
b) He must be at least 18 and he must be a citizen of Canada.
