The offered amount under this credit scheme ranges from $£80 to $1500 and the repayment period is of 1 to 30 days. Instant online payday loans are available online. This greatly makes the entire application process easier. The borrower does not have to approach the lender face to face. The borrower explores online for the lenders who offer the best deals. He is only required to fill an application form, giving details of his name, address, phone number, account number and so on.
These credit advances are granted on the guarantee that the borrower will return the credit along with interest on the repayment date. If the borrower delays in repayment, he is charged an extra fee. As the credit is not granted in cash, it is mandatory for the borrower to possess an active bank account in his/her own name. When the credit is approved, the money is transmitted directly to the borrowers account.
The conditions for approval of this credit scheme are:
• You should be a citizen of U.S.A.
• You should be at least 18 years of age
• You should have an email id
• You should have a valid bank account
• Your monthly income should be at least $1000 per month