Sometimes, you run a little over budget or run into a situation where you find yourself in need of a small financial top-up. Some of us follow very strict rules when it comes to money, and some of us are far more flexible with our attitudes. When your situation is an emergency, one of your options is to secure an instant 24/7 cash loan.
These short term loans are designed to be paid out to you right away giving you the cash in your account needed to sort your ordeal. You then pay back the amount you’ve borrowed on your next payday.
In this post, we’ll be going over some of the top facts you should keep in mind when looking for the right instant loan. Have a look through these pointers to be sure you’re up to speed with what’s right and what’s not:
Not every provider is a lender
When you type instant loans into google, you’ll see a bunch of vendors come up in the search results. Some of these companies will be direct lenders, and some of them will be agents like us! You might think you’d get the best deals my looking at lenders only, but this is a mistake.
Just like hotels or other services that get most of their custom online, the actual service providers don’t always give you the best rates and offers. 90% of the time, it’s the agents or comparison sites that get you the best deals. It’s the same basic idea when it comes to instant 24/7 cash loans. As an agent, it’s our job to find you the best rates and options to suit your needs, and we do so by using Gold Silver Standard Finance Pty Ltd.
Flat fees are standard
As soon as you get your search underway, you’ll no doubt notice that almost all agents and lenders offering these kinds of loans charge a certain fixed amount per loan. This is typically a small percentage of what you borrow and is added to the amount you pay back.
If you’ve never taken a short term loan before, this might come as a bit of a shock, but it’s important to know that this kind of fee is standard practice. It’s much better to deal with an agent or lender that is very upfront about the costs of their solutions, than those who tend to make promises that sound too good to be true!
No loan is ever paid out instantly
Although we do everything we possibly can to ensure the funds are available as soon as possible upon approval, it’s not realistic at all to think that any provider will be able to have the money with you within minutes of your application. In some cases, we can achieve amazing payout times, but for the most part, loans usually arrive within hours. That’s about as instant as it can get anywhere you look!
Your credit score is not as important as recent income
Most lenders will pay attention to an applicants credit score religiously. At Cigno Loans, we understand that poor credit scores are not a full reflection of a person’s ability to pay back a short-term loan. This approach allows us to be far more helpful to those with a less than stellar rating. The main thing we’ll need to see is proof of your income in the form of recent bank statements.
You’ll need this information whether you’re completing the application through our app or over the phone. No regulated or responsible vendor will ever promise to supply you with a loan without this information, so it’s a great idea to have it handy as you look around for options.
Communication during repayment is key
We do everything we can from our end to ensure your experience is as smooth as possible. This includes sending you clear instructions during payout as well as ensuring you receive a range of helpful notifications reminding you of your payment dates. Should you find yourself in a situation where you think you might fail to make a payment on time, it’s always best to inform us a soon as possible. That way, we can do our best to help find a solution and prevent fees and negative credit rating implications from mounting.
Read more about instant loans in our previous blog post: How Instant Payday Loans Can Get You Out Of A Financial Bind
Cigno is a reputable payday lender. We have always been transparent about our products and services. For more information, please don’t hesitate to contact us.