What Are 1 Hour Payday Loans and How They Work

If you are in the middle of a financial crisis and are worried that you will not have enough money until payday then you could consider getting a 1 hour payday loan. A one hour payday loan is an easy way to get the cash you need when you need it.

Payday loans are usually for a small amount of money and are borrowed for a short period of time. With a 1 hour payday loan, you are able to get your money in less than an hour.

When Should You Take a 1 Hour Payday Loan?

A payday loan has its benefits especially in times of emergency and when you have unexpected expenses like bills that you need to pay. A loan will give you the money that you need when you need it.

Payday loans have quick application and you are able to apply online and receive the money almost immediately.

You will usually need to just go online, apply and receive approval and the money within an hour. Also, payday loans don’t usually require a credit check so you are able to get a 1 hour payday loan regardless of how your credit is.

Applying for a 1 Hour Payday Loan

An application for a payday loan will usually ask for personal details like your name and address as well as recent pay slips that show your monthly income.

You will also need to give the payday loan lender your checking account details so the lender is able to electronically transfer the money to your account.

Once, you have completed the application, you will generally hear from the lender in just a few minutes on whether you have qualified for the loan. Most lenders, will usually approve a loan for a certain amount based on your income.

A one hour payday loan is a great resource when you have expenses that you could not otherwise cover on your own. Payday loans are small amounts of money and will need you to pay the money back by your next paycheck.

Where to Get a One Hour Payday Loan

You can get a one hour payday loan from your local payday loan lender and you are able to get one online as well. An online payday lender will deposit the money into your bank account. Both of these will give you the money that you need in an hour of application.

If you would like to get a one hour payday loan, then you need to be prepared and have all necessary documents in order.

Payday loan lenders will not look at your credit and you will not have to have a good credit score in order to get one of these loans. However, they will require you to prove that you are employed and have a regular income. This is to ensure that you are able to pay back the loan.

With a payday loan lender, you will need to state the amount that you need and this is usually limited, which makes them small loans and it will need to be paid back by your next paycheck.

The lender will inform you of the fee and interest that you are charged and you may need to write a post-dated check or you will need to give them your bank account information so that they are able to take the money when its due.

The payment that you make will include the amount that you have borrowed and the fee.

You might be wondering about the benefits…

The Benefits of a One Hour Payday Loan

A 1 hour payday loan can help in times of emergency and when you have unexpected bills to pay. A one hour payday loan has a number of benefits as long as you pay the loan back when it is due, which is normally by your next paycheck.

Here are the benefits of a one hour payday loan.

Secure

All information that you give to a lending institution is completely safe and secure and these lenders will not share your information with others.

Fast

The application process for a payday loan is fast and the application can take less than 20 minutes.

Easy

Qualifying for a one hour payday loan is easy as you will not be required to undergo any credit checks and they only require personal information and a proof of income.

Protection from Too Many Loans

Payday loan lenders will track if you have any existing or outstanding payday loans and are able to prevent you from taking out more than one loan at a time. This stops you from borrowing more money then you able to afford.

There are Laws

There are laws in place that will protect you from high interest rates and fees that are associated with payday loans.

Wait…there are even more benefits…

There Aren’t Any Restrictions

Payday loans do not have any restrictions and you are able to use the money that you borrow for anything.

Caps on Interest Rate

Interest rates are capped, which helps to prevent the cycle of debt.

Convenient

Payday loan institutions will operate beyond normal banking hours, which means that you are able to get a loan when you need it. Also, you can apply online for a payday loan at any time.

No Credit Check

Payday loan lenders will not normally require you to pass a credit check in order to get a one hour payday loan.

Easy to Pay Back

Your income will limit the amount of money that you are able to borrow, which makes it easier to pay the payday loan back when you get your next paycheck.

When you are in a financial situation and need a small amount of money and quickly, then a payday loan could be the right choice as you are able to get the money that you need when you need it. With a 1 hour payday loan, you can get the money in less than an hour. You will not have to go through any credit checks, which makes it suitable for everyone that needs money in an emergency. The money that you obtain from a one hour payday loan can be used on anything, but remember that it has to be paid back by your next paycheck.