WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Sunday, September 22, 2013

Bank Loan Charges and Payday Loans

Bank Loan Charges and Payday Loans
While some of us have superior money management skills, with emergency funds always on hand and thus, never need to make an emergency loan, the rest of us aren't so skilled. When somebody gets hospitalised or the house needs major repairs, we ordinary mortals usually need to take out a loan.

And when that happens, where do we go to? Do we get bank loans or payday loans?

Bank loans and bank charges

Although a lot of us are not fans of bank loans, there is an advantage to it: You do not need to repay the loan all in one blow.

If the amount you need to borrow is going to drain your next pay cheque- or your next five pay cheques - a bank loan definitely makes more sense.

The disadvantages of bank loans, however, are the following: First, approval takes time. These are not same day loans. Second, you may not meet the documentary requirements. Third, since you are being charged monthly, the total interest rates are generally higher than payday loans (presuming that you are able to pay your payday loan in full on its due date). And fourth, the charges are not always transparent.

What charges are you likely to meet, for instance?

1. Late fee. If you are late in paying your monthly fee, you will probably be charged for this.

2. Monthly service fee. This is a fee the bank charges you for the privilege of having an account with them.

3. Overdraft fee. This is charged whenever you exceed your credit limit, whether or not your overdraft was authorised.

4. Charge for exceeding authorised overdraft limits. This is an additional charge for exceeding an authorised overdraft.

Payday loans

If you need a same day loan, then payday loans are worth looking into.

For those who don't know what a payday loan is, it's simply a cash advance on your salary. Often, the only security required is your debit card details; so that on the day your loan becomes due the money can be deducted from your bank account.

Should your loan be approved, the amount is automatically deposited into your bank account.

Of course, like all other things, these loans come with their own disadvantages: basically, it often happens that one's coming pay cheque is not sufficient to cover the amount one borrows. In that case, the borrower ends up renewing the loan instead of paying it back. This could amount to a higher interest charge than one might get with a bank loan.

If a borrower decides to pay back the loan by cheque and it bounces, the borrower would end up penalised by the bank also. In addition, the payday lenders, may have additional penalties of their own.

The good thing with payday loans, however, is that they are required by law to fully disclose the loan terms and interest rates, as well as all the fees involved. Compared to banks, the charges made by these lenders are definitely more transparent - an enemy you know rather than an enemy you don't know, so to speak.


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