The biggest benefit of a one hour payday loan is that it can provide you with between $100 and $1,500 when you are between paydays and have some kind of a financial emergency. When you find yourself in this situation, a one hour payday loan may be your best option. Because these loans are considered high risk they have an interest rate that is higher than a traditional loan, but they are still less expensive than charging the emergency expense to your credit card.
One hour payday loans are available on the Internet and in physical loan offices but the quickest, easiest to obtain, and most convenient are on the Internet. You only need a personal computer and access to the Internet to apply for a one hour payday loan from the comfort of your own home or office. These loans are intended to help with financial emergencies but no one will ask you what you intend to use the loan for and you can actually use the money for anything you want. Another benefit of a one hour payday loan is that there are no credit check, collateral, cosigners, and in many cases, no faxing of documents required. This means that you can still obtain your loan without running all over town looking for a fax machine and regardless of your credit history.
All you need to qualify for a one hour payday loan is to have steady employment, have an active bank account, be of legal age, have a valid driver’s license or other form of valid identification, and be a citizen. To apply for a one hour payday loan you simply fill out a one page form on the Internet with your name, address, telephone number, SSN, and banking information. Your one hour payday loan will be approved in a matter of minutes and once it is approved, the proceeds from your loan will be electronically deposited into your savings or checking account usually within an hour.
One hour payday loans and intended to be paid back no later than your next payday. However of, for some reason, you can’t pay the loan back on time, most lenders will grant you an extension of time to pay back the loan. However, since the interest rate for this extension of time will be higher than the original loan, you should make every effort to pay back the loan on time because it can be expensive if you take the extension of time.
Since different one hour payday loan lenders will charge different interest rates, especially in different states, you should shop around on the Internet to find a lender that charges the lowest interest rate. Before you sign a loan agreement you should also read all of the terms and conditions of that loan agreement so that you know what you are getting yourself into.