What Is A Fast Cast Advance Loan? How Does It Work?

A fast cash advance loan is a loan of a short duration which is usually taken by someone who has urgent need of money in between his/her paydays, generally in the middle or end of the month. The organization giving the loan transfers the loan amount directly to the salary account of the borrower. After the completion of the loan period, the money along with the interest is automatically deducted from the borrower’s account.

What Are The Criteria For Eligibility? And How Much Can I Borrow?

The borrower should be above 18 years or above. He/she should have a working bank account, be suitably employed and should ideally have a monthly income of at least $1000. The loan amount depends on the needs and the income structure of the borrower, and can vary between $100 and $1500.

What About Security And The Borrower’s Credit Record?

The borrower’s credit record does not matter as he/she must submit a paycheck as security against the loan before the loan amount is disbursed. It is a safe exercise for both parties and the borrower’s job and paycheck act as security.

What Are The Documents Needed For The Process?

The borrower has to submit his/her driving license, a copy of his/her bank statement of the last 30 days, a check marked “VOID” and a copy of the borrower’s last pay slip.