With each successful loan payoff, the amount you are eligible to borrow increases, and it usually tops out at about 1,000, depending on your salary. You need to have regular income to qualify for a payday loan, and you also need to have a working phone number. Most lenders also require you to have an active checking account, but some will lend you money if you have just a savings account.
In many cases, you can qualify for a payday loan even if you have poor credit, and many lenders issue loans without running credit checks on borrowers. How long do I personal loan defaulter settlement to pay back a payday loan. A payday loan is usually due on the date you receive your first paycheck after taking out the loan.
Only online applications are considered. Why. Because vetting of your application also happens online. This means your ID is scanned on all credit bureaus to ascertain risk, online.
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.