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Whenever you need to improve your financial situation quickly and with a minimum hassle, 1-hour loans are the simplest solution. Basically, they are emergency cash loans provided by micro-financing companies for a short term on mutually beneficial conditions. Lenders use a so-called fast credit check. To compensate for higher risks, they set higher credit rates. The main benefit of 1-hour cash loans is a possibility of getting cash directly on the card, without the need for leaving home, and within a short time. The procedure is fast, convenient, and very simple. What is most important, these loans can be ordered online, which means you don’t have to visit the company’s office or a bank. Still, clients of micro-lending companies often have a lot of questions regarding the terms and conditions, interest rates, extra options, such as loan extension, and so on. Read on to find the most detailed information about one-hour payday loans and ways to get them.
As the name implies, 1-hour loans are the loans that can be obtained within 60 minutes or faster. Of course, now we are speaking about online loans that are available to all adult citizens of Australia with almost no exceptions. Normally, 1-hour cash loans are referred to as payday, short-term or cash advance loans. Irrespective of how you call them, their mechanism is very simple.
As you see, the whole process, in fact, takes less than an hour. Probably, the most time-consuming step is filling the application form, as you need to double-check everything. After your application is accepted, you don’t need to do anything else – just wait for crediting money on your credit or debit card. It usually happens within 24 hours; sometimes – within 48 hours. Make sure you entered the number of a valid card when filling in the application form.
Like other types of short-term loans, 60-minute loans serve the purpose of filling the hole in the budget as quickly as possible. Commonly, people apply for such loans in emergency situations. However, no fast loans are intended for resolving major financial problems, such as buying real estate property or starting a new business. Therefore, these loans are relatively small.
The minimum and maximum size of 1-hour payday loans varies from one company to another.. Usually, the amount of money you can obtain instantly and with no credit check is $100-$2001. However, there are companies that are ready to lend you from $300 to $5000. This information is available on the lender’s official website, so you can check it before making an application.
If you need a larger sum, you should consider alternative options. For example, if you are not pressed for time severely, you may try to apply for an installment loan. It usually takes some longer, but the terms of installment loans are more beneficial and the limits are higher.
When it comes to finances, safety is a matter of primary importance. Logically enough, many people are concerned about their safety when they have to enter personal and financial data in online forms on the lenders’ websites. However, experts believe there is nothing to worry about, at least, until you use the services of certified lending companies. They always use a multi-layered encryption to protect their clients’ data, and the applications are sent via a special secure channel. The probability of data leakage, in this case, is close to zero.
Another point of concern of many lenders is a potential problem of various hidden fees and unclear terms of a loan agreement. The solution is to read the loan agreement every time before taking a loan. If anything seems to be unclear or non-evident, don’t hesitate – contact the support service and ask questions. The companies that have nothing to hide from their customers always readily provide answers.
Most safety issues can be avoided if you choose the right lending company. Don’t be lazy to read expert and user reviews, study various rankings, and make your choice wisely. Reliable companies care about their reputation, which means they care about their clients’ safety.
Commonly, 60-minute loans can be obtained both online and offline. Each method has advantages and disadvantages. Thus, if you don’t want to or can’t visit a lender’s office or live in a remote town/village, then getting cash loans in 60 minutes online is the only acceptable option for you. The procedure is very simple and doesn’t require any special skills. Just search for “cash loans in 60 minutes in… (your state or city)”, monitor the available offers and choose the one that meets your needs best. After that, visit the lender’s website and submit an application, following the instruction.
Just take it: all fast loans are expensive. The maximum cost of emergency payday loans is regulated by the state; namely, by the Uniform Consumer Credit Code (UCCC). The cost of same-day payday loans in the USA, Australia or the UK is, of course, different too. If we speak about Australia, the most common scheme is as follows:
As you see, all fast cash loans are more expensive than conventional bank loans. They are good as an emergency solution. But to cover long-term financial needs, you’d better opt for the types of loans with lower interest rates.
To apply for a cash loan in 1-hour in Australia one first needs to make sure he or she meets general requirements to borrowers. They include the following ones:
As you see, the list of mandatory requirements is pretty short. Roughly speaking, if you are an adult Australian with a stable income and have a usual bank account, then you will obtain a cash loan in 1-hour without much hassle. Among other things, keep in mind that you will have to provide some papers that allow to identify you. Commonly, they are the following:
If you are eligible for getting loans in 60 minutes and have all the necessary papers, all you need to find a suitable lending company and submit an application online, simply following the instructions on a monitor. Double-check the information you enter, as even a single mistake can end up in a failure.
Sometimes, the possibility of taking an emergency payday loan is a real godsend. That being said, loans of this type are far from being a perfect financial tool. Before making your mind up to taking a payday loan, weigh up its advantages and disadvantages.
Also, you need to keep in mind that, according to Australian laws, you can’t get more than one payday loan simultaneously. You must completely repay the current loan before you can apply for the next one.
“Normally, I don’t use payday loans. But 2 weeks ago I broke my car (nothing serious but I couldn’t continue using it without doing some repair work). I applied for $500 here and got an approval in 15 minutes! On the next day, the funds were credited on my card. Today is my pay day, and I repaid 100% of the loan.”
“I often take mini-loans here and improve my credit score gradually by doing so. Many people complain about high interest rates, but when you pay on time, the losses are not so significant.”
A one-hour loan can become your salvation in a difficult situation. However, you need to be clear-eyed about your real financial possibilities whenever you are thinking about taking a fast loan. Keep in mind that this is an emergency tool, which is not intended for a regular use.