Are “1 Hour Payday Loans” myth or magic?
There is no magic when it comes to 1 hour payday loans. The practical processing of loan requests makes the process take longer than 1 hour. To make the most out of your 1 hour payday loans, you need to understand their entire mechanism.
1 Hour Payday Loan Process
Just like any other payday loan, an applicant must go through the following 3 steps for 1 hour payday loans:
- You must complete a simple application form, only 1 page at CashOne.
- If accepted, the lender must call you and explain all the terms and conditions to you as well as get your final approval.
- Then the lender must process your approval and get your money into your bank account. Usually, it takes one business day – no holidays or weekends.
So, if you apply in the morning and get approved, it is likely you will receive the money the next business day. Always ask your lender, once you are approved, when you will receive the funds in your account. Plan on a 1 business day turnaround for your loan.
Related Article:Same Day Payday Loans: What Do They Work?
What Makes Them So Popular
The relative ease of these 1 hour payday loans has made them extremely popular to people nationwide.
- You can have smooth and speedy access to 1 hour payday loans online.
- You can get the loan you need, in your bank account, without even leaving home.
- The major advantage of a payday loan is that it is available quickly when you have an emergency cash crunch.
- There is no need to consult a finance pro or banker to get your 1 hour payday loan.
- Since it is a small loan, the lenders will not refuse your application just because you have bad credit.
Things to Consider Regarding 1 Hour Payday Loans
There are a few important things to keep in mind about a 1 hour payday loan before you apply that include:
- Nobody except you is affected in this process.
- You need a bank account, a debit card, and have a regular job for at least 6 months.
- 1 hour payday loans are not for everyone.
- Be sure you understand and agree to all terms and conditions as you are under no obligation to accept any loan offer if you are approved.
- Always request the least amount of money you need. This will keep your loan fee lower and make it easier to pay back on your next payday.
- Never plan to make multiple payments as the fees are high for payday loans. Don’t strain your budget!
Related Article: Payday Loan in an Hour: Relieve Financial Stress