"Payday Loans" and "Installment Loans" in Austin, Texas

Payday loans in Austin: 24/7 online approval $100-$1000 cash advance!

"What is a payday loan?"

A payday loan, also referred to as salary loan, payroll loan or cash advance loan is an unsecured short-term loan of a small amount. It is usually linked to the borrower’s payday and is meant for short-term emergencies. Payday loans are not intended for larger purchases like buying a car or a home.

Installment loans in Austin: Up to $3000 personal loans up to 24 months!

"What is an installment loan?"

An installment loan, on the other hand, can be paid over time with several scheduled repayments. Many types of loan like mortgage and auto loans are installment loans. The repayment terms may be as little as two months to 30 years depending on the amount.

They are considered safe and affordable loan alternatives compared to payday loans and credit cards. There are financial institutions like banks that offer both payday loans and installment loans to solve several categories of financial challenges their customers may have.

Payday loans vs. Installment loans
Payday loans are taken for shorter durations and come at a higher interest rate. They are often paid back in one lump sum payment at the next payday. The installment loan, in contrast, can be spread for many months even going to the long term like mortgages.

Their requirements also vary widely in some cases and from lender to lender.

The basic requirements are the same across all lenders with all requiring:

- A valid checking account
- Minimum age of 18 years
- A US citizen or permanent resident

They only start to differ in the financial details for example income and the applicant’s credit score. They require a higher credit score and higher income to minimize the risk of loan default. Those who lend to borrowers with questionable credit history charge higher interest rates to cover the risk of default. This allows them to be less stringent on the borrower’s credit history and makes them able to serve the lower income segment lower than $800 per month in income. Each lender has a specific requirement based on the loan amount, income, and credit score. Some cases require a third party co-signer to guarantee the loan before approval.

How to get a payday loan?

Getting this type of loan is very easy and takes only a few minutes. There are online applications and other lenders who insist on a visit to their offices to apply for the payday loan. In about 60 seconds, you will have known the results of your application. If you are applying online, a customer service representative will contact you to verify all the information you have provided in your application before completing your request. In the case of your loan application being approved, it will be deposited directly to your checking account within 24 hours.

Or find addresses and phones of offices near You.

Or find addresses and phones of offices near You.

The lending requirements for payday loans and installment loans vary per state. In some states, bank statements, state issued photo ID, social security card or pay stub may be required when applying for a loan.

Potential Benefits
Both payday loans and installment loans can help improve your credit rating, therefore, making you eligible for low-interest loans. You also have the joy of paying for the loan in comfortable installments while having the purchasing power to buy what you desire. With the possibility of spreading out the payments over a longer period, you can reorganize your finances to increase the flexibility of managing your expenses.

Offices in other cities of Texas, USA:

Abilene | Amarillo | Arlington | Austin | Beaumont | Brownsville | Carrollton | Dallas | Denton | El Paso