A payday loan is a short-term loan that is intended to tide you over until your next paycheck.
Application is generally done online, and you can get the money quickly – in many cases within 24 hours after you are approved.
While they were originally intended to be paid at the end of the month, these days, you can borrow for longer terms of three months.
You can even pay in installments, to make repaying the loan more affordable.
Payday loans are expensive and charge higher interest rates. You should only apply for a payday loan in case of emergency or other serious financial need.
When You Should Not Avail of a Payday Loan
If you make doubt if taking a loan a good idea, please review the points below.
- If you want to use it to repay other loans
- If you already have other payday loans
- If you are not completely sure you can repay the loan
- If you want to spend on things you can’t afford and don’t need
If you have answered “Yes” to two or more question, instead of applying for a short-term loan, please explore other alternatives such as borrowing from friends and family or from your credit card. Or speak to your bank to see if you can get an overdraft limit, for instance.
If you are planning to get a payday loan to use on discretionary expenses such as new clothes, a night out or concert tickets, don’t. Having to pay off a high interest loan will outweigh the momentary satisfaction you get from your purchase.
Applying for Payday Loan Online
It is our mission to provide Belfast lenders with access to the most affordable loans. If you need to avail of a cash loan, simply fill up our online application.
Your application will be submitted to the panel of lenders, and if one or more indicate that you may qualify for a loan, lender will in touch with you, typically within minutes. You will be connected with the lender that offers the lowest APR.