Introduction
Payday loans are short-term loans issued to an individual in anticipation of the payday on which the loan shall be paid. Payday loans are usually used to offset short-term pressing financial needs. This is because they do not require a form of collateral to be accessed, unlike other credit systems. In addition, they are one of the fastest ways to access credit because they do not require lengthy documentation. All that is needed to access an instant payday loan is a source of income, a chequing account, and a valid form of identity.
The loan application is usually processed and approved in minutes. The maximum amount an individual can withdraw is estimated by several factors, including the source of income, resident location, and account statement. Several lending services offer Payday loan services, of which Easy payday loan is one.
Review of Easy Payday Loans
Easy Payday Loan is an online payday loan broker. The site provides different payday loan options tailored to meet different needs. The options available include
- No credit instant approval loans
- Bad credit loans
- Installment loans
- Same-day payday loans
- Guaranteed approval payday loans.
The whole procedure of application to receive the loan is carried out online. The application process requires a minimum age of 18, a valid form of identification, and a source of income. Then, the details are submitted alongside a short reason for the loan.
Easy Payday Loans use a community of lenders to provide lending services to its customer. Once a loan application is submitted, several offers are presented to choose from. A good example is the guaranteed approval instant loan offer which provides instant loans up to $5000. However, the offers are different, with different timelines and terms.
All loan application on Easy Payday is processed in record time. The site conducts background checks on the applicant via the submitted chequing account. This is used to select the most suitable offers available to an applicant. Easy payday loans ensure an agreement between the applicant and lender to eliminate any fraudulent act.
Pros and Cons of Easy payday loan
Pros
- Stress-Free: Easy Payday Loans via online application grant the applicant access to several lenders. This eliminates the need to send applications to several lenders.
- Easy application: The application form is available 24 hours daily and easy to fill. The details required are reduced to just the vital information needed to access the loans.
- Quick lender Inspection: The Easy Payday Loans are optimized to help lenders quickly assess every application and give a response. The applicant can expect a response from the lender within a short time of application submission, regardless of the time of the day.
- Instant money transfer: Loan applicants typically receive their money immediately after a deal is agreed upon with a lender
- Ignores poor credit score: The loans are issued without necessarily considering a credit score. A bad credit score, therefore, is not a hindrance to accessing the loans
Cons
- Limited Amount: The Easy Payday Loan uses affordability to estimate the amount of money that can be given to an individual. This means that all applicants might not always have up to the amount they need at that instant.
- Rollover: There is a penalty for failure to pay up the loan on the agreed payday; this penalty is called rollover. The amount is added to the unpaid amount and rolled over to the next payday. A continuous rollover can lead to a very sporadic rise in the amount payable.
- Extra charges: Some additional fees are payable on the loan as agreed on the terms and conditions provided during the agreement. Although most applicants don’t bother reading it, the amount is charged over time.
- Access to your bank account: The amount is deducted via continuing payment authority (CPA) which grants access to the bank account. This exposes the applicant to hidden charges and other deductibles from the submitted account details. Although it can be canceled, it is still a risk.
- Visit the website now to gain access to the low-interest payday loan from Easy Payday Loan.
What makes Easypayday loan stand out
Among the several payday loan firms available, Easy Payday Loans stand out because of some of the features of the site, such as:
- No brokerage fees: Easypayday loan acts as a broker in-between the applicant and the lenders. They connect the applicant to several offers from lenders listed on the site. The site does not charge for this service compared to other firms that charge enrolment fees alongside the loans. The site only obtains a commission from the lenders once the agreement is reached between the applicant and the lender via the site.
- Numerous Offers: The site has various offers from different lenders. These offers usually have different payment plans and other associated terms and conditions. This means there are several loans offers to choose from. The offers are also categorized into several sections to give a streamlined search experience.
- Instant Payment: Payday loans are designed to offset pressing needs that need immediate attention and prompt availability. Easy Payday completes payment of loans in a few minutes and a maximum of a day in cases of large amounts.
- 24 hours service: The site is always available. Applications are processed immediately, including at night.
- Stress-free borrowing experience: Easy Payday is designed to give a stress-free borrowing experience. The site is created and layout to provide all the needed information on the loan option chosen. The application forms are designed to request only the basic information to obtain the loan. The helpdesk is always on standby to help out with any issue experienced in the cause of using the platform.
- Lenient Rates: Easy Payday loan lenders do not give outrageously high rates. The interest rate and payment structure are lenient compared to other payday loan firms.
Conclusion
A payday loan is a swift and reliable way to offset short-term pressing needs. They are stress-free and fast, and they do not require much documentation. A valid form of identity and a chequing account is enough to get the loan since they do not require any collateral. They also do not affect credit scores because they are not considered in the application process. Several firms offer this service, one of which is Easy Payday.
Easy Payday stands out as the best because of its lenient interest rate, few added fees, low rollover cost, and no brokerage fees. Easy Payday is designed to give every applicant a stress-free borrowing experience. They also offer special applicants with no credit or bad credit scores, respectively. They also provide guaranteed instant loans, a fast way to instant cash, especially in emergencies.
