But all in all the application process is extremely easy. You will be required to create an account and submit your personal details including bank account details and employment history. Credit profile rating : Must be good or acceptable. One time pin (OTP) confirmation : One time pin is sent to your mobile phone and email confirmation is also done to complete application.
Bank Transfer : Cash is only transferred to applicants name matching name as reflected on identity book. Bank account number is also matched for legitimacy.
Can a direct lender provide guaranteed payday loans. Lets examine the difference between a direct lender and a broker. A direct lender processes your application and gives you money directly. In contrast, when you submit your application form to a broker, they sell it to direct lenders.
They may even charge a fee for this. The company that bought your application will then decide whether or not to lend to you. Our opinion: Borrow only from a direct lender.
All you need is a bank account, proof of income (such as a pay stub), and an ID that shows youre at least ace payday loans los angeles years old. You can walk out with your money in less than an hour a major reason these loans appeal to financially desperate people.
Automatic Repayment. When you take out a payday loan, you hand over a signed check or other document that gives the lender permission to take money out of your bank account. If you dont show up to repay your loan as scheduled, the lender either cashes the check or withdraws the money from your account. Easy Renewals. If you know you cant afford to pay off your loan on time, you can come in before it comes due and renew it.