subject: Same Day Approval Loans- For Fast And Convenient Deal [print this page] If you want to meet your daily expenses such as repairing of your vehicle, renovation of your house, paying hospital bills, school fees and so on, you can opt for same day approval loans. If there is a shortage of money and you want to fulfill certain needs, you can rely on these loans.
Many of the other loans usually take at least three days to avail the loans. Firstly they check out your collateral and then verify the information provided by you in the application of the loan. But applying for same day approval loans is much more simple, easy and fast. These loans are available online. You just need to specify that you are in need of same day loan and the lenders dealing online will avail you the required money as fast as possible. There is no long verification process. These loans are even free from hectic formalities like faxing documents and paper work. This service is very convenient and quick.
These loans are both secured and unsecured in nature. If you are able to pledge any collateral security to the lender against the borrowed amount, you can get higher amount of money which you need. The current market value of the asset will be considered in this case. But if you are not able to arrange any collateral security to pledge, you can opt for other option. In this case, you can avail the amount up to $80,000. The borrowed amount will be calculated on the basis of your salary. So, you can choose any of the option according to your convenience.
The period of repayment varies in both the secured and unsecured same day loans. In case of secured loans, the repayment period is as long as 10 years and incase of unsecured loans, you can repay the amount in 3 to 5 years. The rate of interest in both types of loans is also different. The rate of interest for secured loans is lower than the rate of unsecured loans. For unsecured loans, the rate of interest is 7 to 14 percent.
