When you opt for 3 month payday loans, it simply means that you are thinking of borrowing a cash amount that you wish to repay in longer duration. Your present financial situation may be weaker. Such a loan gives you enough time to repay in smaller installments so that you can have more money from paycheque for household expenses. Approval of the loan come quickly without any credit checks within the same day and the loan amount is wired in your account.
However, only employed people who are in the current job for past at least six months are qualified for the loan. An active and valid bank checking account also is a pre-requisite. You should be 18 years of age or above to opt for the loan.
3 month payday loans can offer you cash in the range from 100 to 1500, without collateral. Some lenders may ask for a post-dated cheque against the loan. You can even borrow the cash without faxing any papers, if you have found out such lenders.
The cash amount is approved for two weeks, ahead of your next payday. This allows you to repay from next paycheque. But in case you fail to do so, you have the option of repaying the interest charges in order to continue stretching the repayment of the principal amount for three months or earlier.
3 month payday loans do not allow for any credit checks on the borrowers. Even with multiple faults of late payments, defaults, arrears and CCJs of the past, you will be instantly approved for the cash.
However, such cash comes with a price of high APR. be prepared to pay back the loan at expensive interest charges. The only way to reduce the interest rate to some extent is to compare the lenders for competitive offers of 3 month payday loans. Ensure timely repayment of the loan and do not stretch it unnecessary to avoid any debt build-up.
by: Tony Simcox
About the Author:
Tony Simcox has no formal degree in finance, but years of work that he has put in the finance industry makes him perfectly eligible to be called an expert in financial matters. For more information related to payday loans for 3 months, 3 month payday loans, short term loans and no hassle payday loans visit http://www.paydaycashtoday.org.uk/