Keyword: Alternatives to payday loan Why is an Instant Loan the Best Payday Loan Alternative? Payday loans might seem the fastest solution when a cash crunch hits you. But is it the most effective solution? The answer is- “No”. A payday loan is surely a quick credit facility but has a few shortcomings. These make it a not-sopocket-friendly loan for you. What is a Payday Loan? A payday loan is a short-term loan extended based on your salary and comes with a high interest rate. Being a short-term loan, you must pay it back quickly. When you are already in a cash crunch it becomes tough. To stay safe from piling interest and added penalty you end up borrowing another loan. While it pulls up your debt, it also throws down your credit score. Finally, a debt trap opens for you. To avoid all these situations, you must look for alternatives to a payday loan. The cheap and best alternative to a payday loan can be an instant loan. Instant Loan: The Best Alternative to a Payday Loan Instant loans are short-term loans, provided based on your salary. But the instant loan doesn’t come with a rigid repayment term. While in a payday loan you have barely one month to clear your dues. With an instant loan, you get longer tenure with flexible payback options. You can spend the sum of an instant loan for any and every need. Quick in approval and instant in disbursal, not only make this the best alternative to a payday loan but also the best for emergency needs. Features of an Instant Loan 1. Minimal documentation: Minimal documentation makes the instant loan bliss. With proof of identity, income verification, and address proof; you can complete the documentation for an instant loan easily. 2. Collateral-free: When you are stuck in an emergency or need some cash help urgently, you don’t have to arrange security to get the cash. Instant loans are a quick credit facility. Without any credit check or collateral, you can go for this alternative to a payday loan. 3. Instant access: Approval and disbursal are not time taking with an instant loan. After the verification, approval is given, and in no time the
cash is credited to your bank account. You can also take a check if you want. 4. Spend for whatever you want: This loan is free of any curtailment of the purpose that you can spend the sum for. Whether it’s a need or a want, you can spend on anything with an instant loan. As with an instant loan, you don’t have to worry about heavy interest or penalties, and you can use your money freely; this becomes a perfect alternative to a payday loan. How an Instant Loan is a Better Alternative to a Payday Loan? 1. Low-interest rate: Compared with a payday loan an instant loan applies lower interest rates. Also, it doesn’t impose hidden charges or penalties. Being a pocket-friendly loan makes it a great alternative to a payday loan. 2. Longer tenure: A payday loan is due on your coming salary date. A payday loan is tough to manage. Whereas, in an instant loan you can stretch it for one year and longer in special needs. 3. Flexible repayment: You can pay off your dues in variable installments with an instant loan. While in a payday loan you have to pay in one go. Easy repayment makes the instant loan a good alternative to a payday loan. When many lenders are present in the market giving you an instant loan, going for a fair and legitimate provider is a must. With Advance Financial, you get this need served perfectly. At Advance Financial, you can get access to credit 24/7. Starting from $25 up to $4,000 you can have an instant loan from Advance Financial with absolutely no credit check. When you are hunting for alternatives to payday loans, Advance Financial can be your one-stop shop for an instant loan with its easy application process, quick approval, and instant disbursal.