Guaranteed small monthly payments loan — What exactly it is?
Tired of being rejected due to bad credit history? Refusals are always heartbreaking especially when you are in an urgent necessity. However, still, there are so many lending companies that provide loans to borrowers with fewer credit scores. But these loans are not very long-term and only preferred in sudden needs because of its high APR and the reason behind its cost is that it doesn’t require any check on your credits and no collateral is needed for the security of your debt.
Guaranteed Installment Loans
But if you have a stable source of income now, then it can be a trusting factor for the lender towards you for lending some money in your urgent need. Also, there is one more benefit you can avail which is for repayment, as mostly borrowers feel stressed when it comes to paying the whole debt along with interest at once. But now there are several plans you can get from your loan provider such as payment in small installments. It is proved as a relieving method for customers with bad scores.
It’s always a question that from where you should choose to borrow a loan. And the answer is direct lenders, indeed it is always the best option. Why so?
Because there are high chances of spam or fraud while applying through brokers or any third-party as you don’t have any direct contact with the loan provider so the broker can charge you more. Whereas applying via direct lenders, you just have to fill an application form online with basic information. With direct lenders, you can build a good relationship and get several offers when you become a regular customer but it’s not in the case of third-party.
Also, you can save some amount while applying loan directly from the lender as brokers always search lender who offers loan on high APR. Not only this, the procedure of loan through the direct lender is faster as there is no intermediate, you just have to apply on your own and get approval within 4-5 minutes and cash would be credited to your checking account directly.
Why these loans are going popular among the netizens?
Due to its benefits, it becomes well-liked by the people and some of them are listed below:
- There is an adjustable repayment method and debt can be paid in a few installments.
- Some lenders don’t take early payment fees for this loan.
- There is no need to put your assets as collateral for the security of the loan. Hence, no risk.
- It’s a guaranteed loan, no matters if you don’t have good scores, you’ll get equal treatment as them.
- The process doesn’t need any faxing or heavy documentation and even no Tele-tracking would be done which is the reason for its quickness.
- Security of your data would be there which you’ll share while applying.
- There would be full clearance regarding pay off period and cost.
Criteria for the qualification of Guaranteed Installment loan
As you know, there are lots of merits, along with them the application process is also very convenient. For which you’ll need the following:
- Age: That must be above 18 years old according to the laws of lending industry.
- Citizenship: Your citizenship is required for the country you are applying to.
- Job-status: There must a regular source of income so that you can refund your debt on time and lender can have faith in you.
- Contact details: For the better communication with your lender, you have to provide your calling number along with e-mail id.
- Bank account: For direct crediting and debiting, you should have a working checking account.
- Identity evidence: Your id proof which includes your name, address, and gender to get to know about who you are.
See, how minimal documents are required for the guaranteed installment loans. What are you waiting for? In need? Then go and get the cash within 24 hours, right now and get relief from the long process of other loans that don’t even give guarantee for the approval.