Payday loans offer easy, fast access to cash. It was inevitable that they would soon become available on handy mobile apps, and they have just started to arrive. These apps make taking out a loan quicker and easier than ever.
Mobile applications have many benefits over traditional loans. Below, we discuss the best online loan app available on the market.
What is an Online Loan App?
A loan app works exactly the same way as payday money lending companies. However, you do not have the effort of going into a store or branch. You can apply from your mobile phone, either at home or on the go.
Decisions are usually made instantly, and you can have the money sent electronically to your bank. Many payday loan apps offer extra services, such as email and SMS notification.
How Do They Work?
Generally, they work in the same way as any other app. Start by downloading the app to your phone, and sign an account. You may be asked to prove your identification and provide some personal details.
Typically, you will need to input your bank account details and details or your current employment. This is to ensure you can pay back the amount you are loaned.
Benefits of Using a Mobile Loan App
The main benefit of having a mobile loan app is that in case of any financial emergency, you have an instant credit line at your fingertips. You will never be stuck again if you need access to fast money to help you out of any situations you or your family may find themselves in.
You will also have 24-hour access to these services. Previously, you would have to wait for office hours to go into lenders and fill in the necessary documentation. Now, you can access these at any time of day or night.
Apps are also extremely safe and secure methods of gaining cash. They often have advanced encryption technologies, meaning all your data is handled sensitively. Choose a secure password and you can set your mind at ease.
Mobile cash apps also have easy interfaces that allow you to keep track of ongoing and outgoing payments. This can help you manage your money and the amount owed. It will also contain payment dates and the amount that you borrowed.
Many apps also have automated notifications and SMS services. They can remind you of important payments and dates, meaning you never miss a payment and incur interest.
One popular app is Captain Cash. Their app has an extremely user-friendly interface and is available on google play and the app store. Captain Cash is a licensed payday loan lender, making them legitimate and safe to use.
Their online application process is extremely quick. All you have to do is fill out the form and follow the email sent to your inbox, or via the app. You will not need to fax or email any documents.
The only requirements are that you need to be 18 years or older and have been in employment for more than two months. You need an active chequing account that has over $1200 deposited in it once a month. You will also need a phone number that they can contact you on.
ICash is an extremely popular online loan app. They have a very simple online form that needs to be filled in. Once this is done you can simply choose a payment plan and the amount you would like to borrow, then begin.
Applications have instant approval, so you will not need to wait about for a decision. Your funds will be sent in five minutes or less via e-transfer. They are a licensed lender and have excellent ratings on Trustpilot.
The company even offers a cashback system where you can get up to 20% of the cost of your borrowing back. This reward comes once your loan is fully paid back, and you can receive the cash in your bank account the same day.
Their flexible repayment schedule is also very handy. You can choose to pay back in one go, or in installments. They are also a very trusting company, allowing a five day grace period for you to pay back after your payday without incurring any fees.
Their mobile app is extremely easy to use. It can be found on google play and the app store.
Goday is another user-friendly payday loan app. Not only does it offer payday loans ranging from $100 to $1500, but it also allows access to larger installment loans that can range up to $15000. All you need to do is sign up for their account.
Loans are processed immediately and can be done 24 hours a day. If any extra information is required, they will contact you by phone or email immediately. This application process should take no longer than five minutes to complete.
The app is extremely secure, so you will not lose your data or any money. It features top-level encryption and data is never used without your approval. Their loan application process also requires no faxing of documents, making it easy to apply.
Taking Out a Loan
Check to see which online loan app offers the best deals for your loan. Remember to check their repayment plans, and decide which is the most affordable and realistic for you to pay back.
Of course, you can always download our handy application. We give instant approval and can provide you with the amount from anything up to $750 without a credit check! Find us on google play and the app store.