Getting a short term loan will not be a tough task if you own a debit card
. Debit card loans help you to avail a short term loan against your debit card as a proof of your repayment capability. These loans are available to provide financial aid to people to meet some urgent needs. So you can avail these loans for short term to meet your urgent needs on the basis of your debit card.
Debit card loans are quick and secure way to borrow money at the time of emergency. There is a very simple procedure to apply for these loans. You can apply by filling a simple online application form in which you are required to provide some personal information like name, address, income, etc. The amount sanctioned for loan depends on the income of the borrower.
These loans are collateral free and are available without any paper formalities. Also no credit check is required to apply for these loans. So people with bad credit can also apply for these loans. You can avail an amount in the range of 100 to 1500 for two to four weeks. However, repayment period can be extended by the borrower by paying higher rate of interest.
The rate of interest charged on these loans is slightly higher than other loans. But a borrower can save lot of his money by comparing the quotes of various lenders available online. Many lenders are ready to negotiate with the borrowers due to highly competitive market.
The amount availed from these loans can be used for meeting inevitable and urgent expenses like medical bills, credit card bills, school or college fees etc. So whenever you face financial problem for short period of time in meeting urgent expenses, you can apply for these loans and get the cash in your hand within 24 hours.