Payday Loans: How To Get A Cash Advance Within Minutes

Date Jul 13, 2020
By Michael Speight
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Payday loans are the most common cash advance solution New Zealanders usually count on. A bigger offer means more solutions for you, and though the terms are similar, some quick loans still remain more affordable than others. 

No matter your circumstances, remember that they are not that urgent as they appear to be at first. How come? Simply, getting a cash advance takes no more than several hours, as fast loans are abundant and available online. From the moment you fill in the form to the moment you actually get the money, it will only take a few hours of your time.

Now that you know that, make sure to read terms and conditions and the fine print alike, as to pinpoint the benefits and disadvantages. What all payday loans have in common is the deadline: repayments are due weekly, fortnightly, or monthly. 

The usual scope of daily interest rates is between 1% and 1.7% and the difference is not insignificant by any means. Therefore, make sure to compare all the offers first! At Glimp, we make the task as easy as it gets! Compare the rates here and now!

How to Qualify for Payday Advance? 

With most lenders, qualifying for payday advance comes down to three simple requirements. The borrower must:

  1. Be a permanent NZ resident;
  2. Be 18 years or older;
  3. Have a stable income.

For smaller loan amounts, there are rarely any additional requirements, which makes the application process even simpler than you initially thought was, right? We thought so. 

Now, where do you get that loan? Pretty much anywhere, truth be told. Banks, unions, peer-to-peer lenders, finance institutions... well, they all offer quick loans. Some of them include:  ASB, BankDirect, BNZ, Co-operative Bank, Kiwibank, SBS Bank, TSB Bank, and Westpac (banks), Advaro Finance, Aotea Finance, Consumer Finance, Diners Club, Dorchester Group, FAI Money, Finance Direct, Finance Now, Financepoint, Financial Holdings, Future Finance, Gem, Gilrose Finance, Instant Finance, Mutual Credit Finance, NZ Loan (finance institutions). If you are a union member, make sure to look up their offer first. More often than not, they offer higher value loans at lower rates to their members. E.g., Paraloan is the best choice for people with physical disabilities.

Easily compare bank loans and interest rates at Glimp! Get the lowest rate today! 

Payday loan limits may vary, but the general guideline would be: don't take more than you are certain you will need. Small loans have highest interest rates, no exceptions, so if you need more money fast, try considering other loan types first. 

Compare payday loans for the best deals! Don't get tricked into inconvenient offers — always compare to find the best offers for you! 

Need to secure some cash till payday? The easiest task ever! Compare rates at Glimp! 

As stated above, numerous entities offer cash till payday solutions, so finding them is less of a problem. Picking the optimum one, alas, well might prove to be a considerable issue. With so huge an offer, not seeing the forest for the trees is quite a common occurrence. 

To pick the best among payday loans, follow these easy steps:

  1. Compile a list of lenders: you need not only consider locally owned businesses. Given that online applications are commonplace, it's safe to go international. Compare payday loans to shorten the process!
  2. Compare personal payday loans interest rates: be thorough, as even a seemingly small difference will add up in the end. Make sure to consider secured and unsecured loans, and keep in mind that rates can be either variable or fixed. 
  3. Read the fine print: this step is too often overlooked but it shouldn't be! Compare all charges and fees. You'll be surprised to learn how many unpleasant items it may hold. Look for closing fees and penalties, as well as late charges.  
  4. Don't forget the terms and conditions: these list all due dates, additional payments, potential changes to rates, and payment period specifics. 
  5. Ask away! If you are unclear on ANY point, don't be shy. Make sure to contact the lender and clarify everything. 

Compare payday loans at Glimp for best rates and conditions. Easy, convenient, prompt!

Payday loans: Useful Terms. 

Getting familiar with payday loans terminology might prove challenging to some, notably people who haven't had the pleasure of borrowing funds before. These are the terms you need to understand to the letter in order to make the best decision possible.   

  • Debt - the amount you are due to repay;
  • Interest - the cost of borrowing money; 
  • Interest rate - the percentage of a loan to be paid back as interest; 
  • Lender - the entity providing the loan;
  • Asset - an item of ownership;
  • Collateral - the pledge of an asset;
  • Credit report - a record showing previous debts and related repayments (if applicable).

Not many people are familiar with their credit score, ensuing from the credit report. Make sure to learn the ropes before applying for a loan. You may achieve a copy of your credit report through a credit reporting company. Three of those exist in New Zealand: Centrix, Dun & Bradstreet, and Veda Advantage. There is a faster way to achieving your copy, though. Apply online through any of the sites offering the service, and you will get your electronic copy within minutes. Both services are free - the only thing that's different is arrival time. 

 

A higher credit score allows for applying for higher loan amounts, which will be granted at lower interest rates. For payday loans, your salary and the length of employment will also help in this regard. So, if your credit score happens to be lower than you like it, despair not! There are other factors to help out!  

Compare different types of bank loans and find the lowest rates at Glimp today!

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