The Top Types of Fast Cash Loans with Monthly Payments
If you need a fast cash loan with monthly payments, you may not be sure what your options are. In this blog post, we’ll take a look at a few different types of fast cash loans that are available with monthly payments and are ideal if you need emergency funds but don’t want a short-term loan. Let’s get started.
- Installment Payday Loans
These are just like standard payday loans, but instead of paying your entire principal and interest/fees within 1-3 weeks, you can repay in monthly installments for up to 3 months.
Typically, there is no need for a traditional credit check, background check or other such verifications, either. You simply must be employed and making an income, be a US citizen over 18 years of age, and have an active, open checking account.
- Personal (Unsecured) Loans
Personal loans also often called “unsecured” loans are easy to find online. You can get loan terms of up to 12 months or longer with a highly variable APR. Depending on your credit, you could borrow just a few hundred dollars or thousands of dollars.
However, this type of loan requires a pretty good credit score, in most cases. If you don’t have excellent credit, you may not be able to get one of these loans. In addition, it usually takes a bit longer to apply and get approved compared to other types of loans.
- Installment Title Loans
Some car title lenders will let you take out an installment title loan. Usually, car title loans are issued for a loan term of 1 month. However, some lenders may allow you to repay your loan in equal monthly installments for 3-6 months or longer.
However, title loans are quite risky, particularly if you depend on your vehicle to get to work. If you fail to repay, your car can be repossessed and sold to repay your loan.
- Credit Card Cash Advances
A credit card cash advance can be considered a type of fast cash loan with monthly payments. You can withdraw a certain amount of cash up to a limit determined by your credit card company.
Then, interest will begin to accrue immediately. However, you can continue to make monthly payments or minimum payments to keep your credit card in good standing, and then repay the initial cash advance whenever you have the money to do so.
Choose Mypaydayloan.com for Fast Cash Loans
If you need fast cash loans, My Payday Loan is a great choice. We offer quick approvals and provide you with your cash on the same day you apply. Click here to get started and get the emergency funds you need.
