By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NorthBridge TimesNorthBridge Times
  • Business
  • Education
  • Finance
  • Health
  • Technology
  • Sports
Search
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: 4 Things You Need To Know When Acquiring a Quick Loan
Share
Sign In
Notification Show More
Latest News
Windows 11 Update 22H2
Windows 11 22H2: New Features and Modifications
August 17, 2022
Location Spotlight on Twitter
Twitter Introduces Location Spotlight and More Capabilities
August 17, 2022
how to change TikTok username
How To Change Your Name on Tik Tok
August 16, 2022
Dwayne Johnson Refused to Have Black Adam Appear in Shazam
Dwayne Johnson Refused to Have Black Adam Appear in Shazam
August 16, 2022
US rapper A$AP Rocky charged over Alleged Shooting Former Friend A$AP Relli
US rapper A$AP Rocky charged over Alleged Shooting Former Friend A$AP Relli
August 16, 2022
Aa
NorthBridge TimesNorthBridge Times
Aa
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.




NorthBridge Times > Finance > 4 Things You Need To Know When Acquiring a Quick Loan
Finance

4 Things You Need To Know When Acquiring a Quick Loan

Chandan Sanwal
Chandan Sanwal Published October 11, 2019
Last updated: 2019/10/11 at 10:59 AM
Share
5 Min Read
SHARE

At some point, you might be strapped for cash, and this forces you to look for someone to bail you out of such a situation. Friends might not readily have the money, but you can look for help elsewhere. This can be from moneylenders, banks, or even loan apps. However, before you complete that application, there are a few things you need to understand, and they include:

Credit: Pixabay.com

1)            Repayment Obligations

A loan, whether termed as short term, long term, or as a quick loan, requires you to make premium payments at a pre-set date. Failure to adhere to this, the lender has the right to either penalize you with a fine or fail to offer the loan again once full repayments have been made. Before taking out a loan, look for flexible lenders who can either customize the repayment period to your liking or with good repayment options. Without proper research, the first few lenders you come across might sound like the best, but that is far from it as there is always better out there. Realistic Loans connects you with ideal lenders on their platform. From the options given, you are spoilt for choice on which lender to go with. Thus, you get to stick to your budget when making repayments without frustrating yourself any further.

2)            Reason for Application

Just because you can access quick loans does not mean you go on an application rampage. Just as the name suggests, quick loans are easy to access. This might tempt you to apply every time your account runs low or when you feel the need to indulge. You need a valid reason to apply for a quick loan. If you fail to get this, you might even ruin the little chance you have for obtaining financial assistance. A quick loan can be applied for emergencies or for personal use for people with a previous bad credit history that bars them from other loans. Avoid making the application for unnecessary wants since you might need it later for a rainy day. Try and keep these borrowing options as open as possible, as you can easily access late at night or during weekends and holidays when other lenders do not operate.

3)            Approval Time

Just as the name suggests, the loans are approved within the shortest time possible. Some lenders can take minutes while others take a few hours or days. This period is much more concise than the duration ordinary loans take to get processed. The length depends on your loan application amount, credit history, and approval protocol at a firm. For firms that do not need to dig into your past for a credit score, your loan gets approved much faster. However, some loans can take days, especially if the application was made on weekends, and the firm does not operate during weekends.

4)            Interest Rate

Be ready to pay a higher interest rate than what a conventional loan would charge on your quick loan. There will not necessarily be any exorbitant amounts pay in the name of the interest charged on your quick loan. Do some thorough research and get the lender with the least interest rate. You can also go the extra mile and check the penalty interest rate charged after defaulting. Due to competition, firms are currently offering affordable interest rates, and you can take advantage of this to even enjoy lower rates than expected.

You Might Also Like

Why is the crypto market more profitable than the traditional banking system?

Finding the Right Way to Research Big Purchases

5 Major steps to learn how to trade in 2021

The benefits to investing in a Garage

Income Tax Return Filing Deadline For AY 2021-22 Extended To Sept 30

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Chandan Sanwal October 11, 2019
Share this Article
Facebook TwitterEmail Print
Share
Previous Article 11 Crazy Facts About Bill Gates Home Xanadu 2.0 6 Must Have Home Improvement Tools
Next Article Union Budget 2017: Here are the highlights of Arun Jaitley's Budget for this year What is driving the financialisation of savings in India?
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Latest News

Home Study Courses
Managing a Small Business: 5 Tips for Long Term Growth
Business May 7, 2022
Medical Supplies Can Protect You When You Work With Radiation
Which marketing techniques are likely to benefit your manufacturing business?
Business February 17, 2022
Nursing Reference Letter Samples
Positive Changes You Should Make Within Your Business to Move Forwards
Business January 26, 2022
Minors Whiped and injected Petrol in their Private Parts allegedly over stolen Phone
7 Things You Can Do As A New Nurse to Start Your Day Off Right
Lifestyle Business Health January 17, 2022

You Might also Like

Why is the crypto market more profitable than the traditional banking system?

August 6, 2022
11 Crazy Facts About Bill Gates Home Xanadu 2.0
Finance

Finding the Right Way to Research Big Purchases

January 29, 2022
bitcoin
Finance

5 Major steps to learn how to trade in 2021

December 16, 2021
investing in a Garage benefits
Finance

The benefits to investing in a Garage

December 1, 2021
//

We influence 20 million users and is the number one business and technology news network on the planet

Quick Link

  • Home

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

NorthBridge TimesNorthBridge Times
Follow US

© 2015-2022 NorthBridge Times. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?