Are you in urgent need of cash and do not want to ask your friends or relatives for money? Such situations can arise at any point of our lives. You can opt for loans, but then again you might need to submit paperwork and the sanctioning of the loan can take a long time. Another alternative available to you is cash advance installment loans.
Why Go for Cash Advance Loans?
Cash advance loans are loans offer for a short period of time. One of the greatest advantages of these loans is that it can help you meet your urgent financial needs without any collateral. Many money lenders such as CaptainCash offer such loans to their customers. Here you can avail loans as minimum as $500 loans from CaptainCash, by applying online or through phone.
The other reasons to opt for cash advance loans are:
- It is a better option than your traditional loans
- You can pay the loan in small installments
- If you are not able to pay back the loan on time, the company can even give you an extension
- There is no credit check required for applying for such loans
- These cash advances are also seen as bad credit loans, which people with poor credit profiles can take advantage of.
Now, if the above reasons tempt you for applying for a loan, you might also be wondering what the eligibility criteria are for applying for such loans.
- You need to provide age proof
- A valid email address and phone number
- Proper address proof
- A valid savings bank account
- Employment proof
- Salary slip showcasing the minimum salary requirement
Repay the Loan Back on Time
When money lenders lend you money, they give you a stipulated time to pay back the loan. In some cases, they might even give you an extension. This does not mean you take undue advantage of this. Ensure that you try paying the loan on time.
In addition to this, there are some common mistakes which many people make while repaying loans, that you can avoid making. First mistake which people make is that applying for the loan without researching about it.
Second, not knowing the total installment you need to pay. This is the reason, why many banks send off SMS alerts or email notifications, stating that your amount is due for payment. Last, but not the least, biting off more than you can chew. In simple words, it means applying for a big loan amount without checking your financial stability.
Conclusion
Do not rely on one money lender for loans. You need to compare at least two or three money lenders and compare their fees and interest rates before applying for one.