Comparison of Payday Companies
We have several options when seeking a payday loan. Not all companies offer the same deals. Here, you can distinguish the difference between the main competitors in the industry; namely PDLN, Wonga and Sunny.
As the demand for instant funding kept growing, and the worsening financial conditions of many, this brought about the rise of more lenders everywhere you go. However, not all providers are the same. It is easy to be confused as to the right provider to go to. That is why it is important to compare loans before you secure a one today.
Here are some factors to put into consideration:
- Amount of lending
- Processing and approval times
- Interest rates
To aid you in your evaluation of various lender’s offerings, write down and create a comparison table. Use a spreadsheet or pad paper to list down the main features, pros and cons, and what-nots of each loan company. To help you further in finding the right lender and be able to compare, here are some major factors and parameters for your consideration. Here you can compare PDLN to Wonga.
Amount of Lending
Usually they reduce the risk of borrowers that are not making the right repayments. It is not unusual for the starting to begin at a minimal rate. This simply mean that even though there may be companies will offer of $1,000 or more, there would be companies will offer less. After you have successfully repaid, you may be eligible to a higher amount later on depending on the policy of the lender.
Lenders charge various fees and they can come in varying names and forms. Usually, there is a fixed figure, and the fees can vary the same APRs are variable. Do not forget also that they charge for overdue payment fees. At this link we compare PDLN to Sunny.
Time It Will Take Until Approval
If you have been observing closely, the process involves three segments. First, is the application where you give all details and documents needed for them to come up with an offer and an approval. The online application is part of this process and it will not take up more than 30 minutes of your time. The next segment is where you provide all the details and documentation needed like your personal details, income, direct deposit bank account, and employment, etc. This will require you at some point to fax some bank documentations, pay slips, and more. With some lenders that will even require the number of your employer for verification purposes. This will take some time depending on loan service providers.
The last and final segment is the approval and delivery of the funds to you. There are companies that provide loans personally, while there are those that will merely make bank deposits. A deposit on your account will take a few minutes, but there are service providers that would perform inter-bank deposits and this can take 12-24 hours.
For repayments, many providers will set an automated debit charges on your bank account where your pay will go and then make scheduled charges thereon.
Your Final Decision
The best of the top 10 instant loan providers are referenced in this article. After you are done gathering all the information on your preferred lender, go through each and carefully assess which one will work the best for you. Check APR, interest rates, charges and fees, and so much more to be sure you are able to repay your loan accordingly. Do not fall prey to sharks, instead go after legit and high quality sources that surely matches your needs.