Even though securing a loan these days isn’t that strenuous, it still requires every borrower to boost the chances of their loan eligibility. Who knows, maybe tomorrow you’ll have an emergency, or perhaps you are in financial difficulty right now. Either way, you can do something to boost your odds of getting a loan.
Remember, a loan application doesn’t necessarily mean that you’re going to qualify for the loan. That’s why you shouldn’t take any chances with shoddy application answers that will jeopardise your credibility.
This post will take you through how to secure instant cash loans. Let’s dive right in.
What Is An Instant Loan?
Generally, instant loans are momentary loans meant for a specific period and have high fees and interest rates. Some examples include:
- Payday loans: Payday loans are credit lines extended by lenders who don’t conduct a severe credit check and don’t need collateral to offer you the loan. However, you should be ready to pay high-interest rates.
- Pawnshop loans: A pawnshop offers secured loans whereby you offer up certain items like electronics or jewellery as collateral so that you can secure a loan. However, the loan you’ll get will be significantly less than the value of your collateral. Additionally, failure to repay your debt will see you forfeit ownership of your collateral.
- Car title loan: This is a secured loan that you acquire according to the value of your vehicle. And even though you can still use your vehicle, the fees, interest rates, and your ability to repay the loan will determine whether they confiscate your car or not.
How to Get Instant Guaranteed Payday Loans
1. Decide the Amount You Need
Deciding the amount you need should be the first step to determining your loan application outcome. Those who request a reasonable amount stand a higher chance of getting the loan. If you’re too greedy and you go for a massive sum of money, then the chances are that you might not get the loan in certain instances.
We’re not saying that you shouldn’t request the amount you need. You need to cut down your expenses so that the repayments don’t overwhelm you if you qualify for the loan.
2. Choose the Best Loan Service
Choosing the appropriate service such as Gday Loans is impactful in securing quick loans from their top lenders. They partner with multiple lenders, making it easy for Aussies to secure instant cash loans at Gday Loans. You only need to fill in your application and wait, often, less than a day to receive your loan.
Gday loans have a quick application process and offer massive loans ranging from $300-$10000 with a 4% monthly fee. Note that those who borrow $2000 and above can be charged an APR of 48%.
3. Ask the Right Questions
There’s a consensus that most people who look for loans don’t read the terms and conditions properly and are always surprised by the fees and interest rates when it’s time to pay.
You should inquire about the maximum amount you can borrow, the fees charged, the interest rates, and the repayment period. You should also ask if there will be additional charges when you don’t pay in time. Similarly, ensure they offer you a copy of the agreement so that you can use it if need be.
4. Read and Understand the Fine Print
Once you’ve understood the conditions and terms of the agreement, you’ll be required to sign, but before that, go through the agreement and where you don’t understand, ensure you ask questions so that you receive the necessary assistance.
Note that each state in Australia will have its own rules and lenders, so it will be crucial to inquire about the interest rates and fees.
5. Apply for Guaranteed Payday Loans at Gday Loans
With Gday Loans, you are assured of connection with one of the best lenders in Australia who offer loans ranging from $300-$10000 that’s to be repaid within a short time frame. The application process is relatively straightforward and also has immediate positive feedback.
Let’s look at the application process.
Step 1: Avail The Needed Details
Gday lenders will require you to submit certain information so that they can approve your loan request. Before evaluating your loan eligibility, this information includes your identification card, payslip, bank statements, and bank account.
Step 2: Submit Your Application
Check out the lender’s website to access the application form. You may make in-person visits to apply or acquire the application form online and key in the required details. We recommend an online application as it’s more accessible, and you’ll receive a quick response.
Step 3: Application Review
Once you submit your application, it will be instantly reviewed by the lenders, and in some instances, you’ll be required to provide additional information or documents for proper review. At this stage, you’ll be able to know whether your loan has been accepted or denied.
Step 4: Loan Allocation
If your loan application has been approved, you’ll go through the loan agreement, and after signing it, they’ll disburse the loan to your account instantly.
Are Instant Guaranteed Loans a Good Idea?
Generally, going for instant guaranteed loans isn’t a great idea as it might lead to more financial challenges such as high-interest rates and fees that you hadn’t planned for. And those with a poor credit score should not go anywhere near-instant loans because the poorer your credit score, the more interest rates and fees you pay.