Personal loans can be a tricky business especially when you need the money as fast as possible. In most cases, long-term loans take weeks to arrange. Short-term loans are much faster but there’s so much choice out there, it can be hard to know what to look for. In this article, we’re listing 3 of the most important things you need to know when on the hunt for a fast loan. Keep these things in mind to avoid making some of the most costly mistakes. Let’s start with:
Most personal loan applications impact your credit score
Searching for best deals is harmless, but you have to be careful when it comes to actually completing applications. If the process involves a credit check, it’s likely your rating could be damaged if you fail to pass the check. Have a low credit score? Then you’re better off sticking to short-term loans that don’t require a credit check as part of the application process.
Looking after your credit score is very important for a mix of reasons. Your credit score will determine whether or not you’ll be able to buy large assets with credit in future, so it needs to be in top shape as soon as possible. If you ever want to buy a house or car, you’ll need a stellar credit score to achieve the best rates on a loan or mortgage. All long-term personal loan providers will assess your credit score, so it’s not worth considering large loans of this type if you know that your score is already very low.
Short-term loans can be paid the same day
Need your personal loan immediately? Payday loans are the fastest loans out there. At Pretty Penny Loans, we can have the money paid into your account within hours of your application being complete. This kind of time frame is the industry standard. Any company claiming to be able to transfer the money to you within minutes is not telling the whole truth.
How do we make it happen so quickly? When you apply for a normal personal loan, the credit check they’ll insist on is one of the key stages that takes so much time. With payday loans, the credit check process is negated, so a huge amount of time is saved.
We’ll respond to your application within hours to confirm an offer. Once you accept this offer and return the agreement back to us, we do everything we can to pay the amount you need straight into your bank account the same day. The best way to get our fastest payout times is to apply through our website online.
Comparison sites don’t always give you the best deals
You’re more than likely to come across a few comparison sites in your search for the perfect loan deal. It’s important to remember that comparison sites don’t show every single offer on the market. They essentially work by placing the highest bidding suppliers at the top of the list, and the options you get back don’t always give you all the information you need. These websites can be decent places to start your search and get a feel for what’s out there, but they shouldn’t be where your hunt stops.
It’s always worth checking out some of the markets leading loans companies directly. We offer our loans at highly competitive rates that are often better than those you’d find on any third party vendors, but the no.1 way to get our best service is always going to be by coming to us direct.
These are our three greatest tips on finding a fast personal loan to suit your needs. If you need a large, long-term loan, you’re credit score is going to play a huge role in landing the best deals. If you need a smaller amount of money as soon as possible, look for a payday loan from a credible short-term loans company.
Think we’ve missed anything? If you have any further questions about payday loans or personal loans in general, you can contact our team directly for more information. Otherwise leave a comment below and we’ll do our best to respond to any concerns you might have!
[Tweet “3 Golden Tips On Finding A Fast Personal Loan”]
Read more about fast money in NZ here, or in our previous blog post: Common Tactics People Use When Looking For Fast Money in NZ