When it comes to the newest banking rules, the good old days of payday loans and deposit advances are long gone. But if you have the cash to burn, you can find lenders in your neck of the woods willing to lend you a few bucks at a reasonable rate. Fortunately, a number of states have enacted interest rate caps, and the District of Columbia has introduced a similar cap of its own.
The best way to get a loan with the least amount of effort is to go directly to a bank or credit union. In most cases, you’ll get a better deal at a local lender, and you may be able to take advantage of their more relaxed loan qualification standards. This can be especially helpful if you are looking to borrow money for something as mundane as home improvements.
Another option is to apply for a personal loan. These can be a useful tool for consolidating high-interest debt, or for improving your credit score. You’ll need to be able to prove you have a stable job with regular earnings to qualify. If you’re lucky, you may be able to borrow a few hundred dollars. However, keep in mind that many credit cards charge an annual interest rate of twenty-five percent.
While you’re waiting for your loan to be approved, you might want to take a look at a credit card that offers a cash back rewards program. Credit unions often have programs to help veterans buy a car. Or, if you’re more interested in an upgrade, you could also check out VA financial, which offers a wide range of loan types designed specifically for military personnel.
The most impressive part of these types of loans is that the lenders are typically more than happy to help you out. Some lenders even offer loan escrow services, so you can be sure you’ll never lose your money. A few are even offering a free credit counseling service, which can be of great help if you’re having trouble making ends meet.
Of course, you’re still going to have to pay back the loan. Thankfully, the cost of a fixed-rate loan can be significantly lower than a comparable credit card. And if you do have a hard time repaying, you can always roll it over. To qualify for the rollover option, you will need to pay an additional fee.
There are also online lenders, such as ezPaydayLoans.com, that have a similar business model. They’ll allow you to make online applications, and they’ll also process your payment for you. Most of them are based in the U.S., and have locations in most major metropolitan areas. So, if you’re looking for a convenient, affordable, and fast loan, try these websites.
The best part is that you don’t have to be a veteran to benefit from these loans. For example, VA financial will give you the benefits of a personal loan, and they can be used for just about anything you can think of. That includes home improvements, family vacations, expensive car repairs, and more.
