Months feel shorter when your expenses exceed, and the wait for your payday looks like a long one then. “Making ends meet” is possibly the adage that originated with the basic urge to make the end of one month meet the start of another one, without financial obstacles.
Striving to go on from one payday to another is all what adulthood is about. And more often, you find yourself being at quite a fix, because finding that exact balance between your income and your expenses is not easy. There are months that come with emergency expenses which may ruin your monthly structure, and there is nothing you can do about it.
That is when people go for a payday loans.
What is a payday loan?
Essentially, a payday loan is a type of short-term borrowing where the lenders offer the borrower a high interest credit on the basis of their income and their credit profiles. In short, one could consider it to be a mini-payday before the actual payday.
The principal amount of the payday loan is basically a chunk of the borrower’s next pay check. But the downside to these loans is the high interest rates they come with a very high interest rate.
Payday loans have quite a bad name as they are also termed as predatory loans. This is solely because of the high interest rates and added provisions to these loans that come with additional charges.
And in spite of that bad a reputation, when shortage of funds knocks on your door and getting a loan seems like a long and endlessly futile option, you would find yourself typing “payday loans near me” in the search bar of your device.
But just like every loan out there, are you eligible to get a payday loan? If you did not know of what would qualify you to get a payday loan, here’s what would:
Eligibility criteria for Payday Loans:
- The borrower must have an active checking account
- The borrower has to procure, when asked, a valid proof of income
- Borrower must have valid identification
- The Minimum age requirement for a borrower is 18 years.
The approval of a payday loan is quick, as you would get it within a single day. However, the interest rates rain on the benefits that comes with this kind of a loan. And though it may be a quick fix to your predicament; in the long-run, it harms more than you would have estimated it to.
What can be done when funds run out mid-month?
Get with it, with MoneyView. This is where your mid-month money woes come to a permanent end. With MoneyView by your side, running out of funds is never a problem. Quick and convenient loans at your disposal, you would no longer have to burden yourself with loans that heavy interest just for having adequate funds that sail you to the end of the month comfortably.
What you get with MoneyView?
Getting a loan with MoneyView comes with something a lot of public or private financiers may not offer – comfort. The features that we provide make it comfortable for you to get and even repay your loans. Some of our key features are as follows:
- Speedy loans: would no longer have to fret to make ends meet. With MoneyView, you get a loan within a span of hours, helping you cruise through. You can choose a loan amount from anywhere between Rs 10,000 to Rs 5 lacs. This means you need not abide by stringent loan policies that force you to go for a specific amount, which may not even be needed.
- Flexibility: MoneyView offers you maximum flexibility with your loans; after all, it is your loan. So you need to be in command of it. With us, you get loan repayment tenure from 3-12 months. This way, you can design your EMIs to meet your monthly finances, without it being too heavy on you.
- Paperless procedures:Getting a loan is now entirely paperless. In the digital era, let not heaps of paper get you sweating. Download the MoneyView app to apply for the loan, and you will need to upload your documents online. Once your documents are verified at our end, you get your loan almost immediately.
Opting for a payday loan may not be the wisest option, unless you get one from MoneyView. Minus all the hassle and the pressures it would get you later, getting a loan from MoneyView enables you to make ends meet and breathe, too.