Want to borrow money for a couple of weeks? Payday loans or cash advances are one of the many ways to make this possible. You can conveniently borrow cash till payday of next month. They are very popular among people who need a little bit of extra cash to meet their financial commitments and cannot wait for their salaries. The money borrowed can be paid back on the day your next month's salary is credited into your bank account.

General Outline

Payday loans are given to people who need money for a few weeks. The amount ranges from $100 to $1500 with a repayment period of 2 to 4 weeks. The advance can be rolled over by which repayment period is extended by a few more weeks. The rates charged on these funds are comparatively high, but we all know that convenience costs money. The short duration raises interest rates in these loans. For example, if you borrow $100 for 14 days, you need to pay $115 when you receive your next paycheck, since $15 is fee charged. According to annual percentage rate, the interest rate is a whopping 391%. If this amount is not paid back on the due date, it will be rolled over for a couple of weeks more. Rolling over loan three times would amount to a fee of $60 for an initial loan amount of $100. Thus availing payday loans are completely your call. If rollovers are avoided the loans are convenient and can be used to tide over unexpected financial demands like gas bills, credit card payments, house repairs etc.

Criteria For Eligibility

Cash advance loans have minimum qualifying criteria and these include US citizenship or residency, steady income and a working bank account. There are no credit checks or cumbersome documents that are needed and hence loan application and approval process is quick and hassle less. If you have a bad credit score or have not been paying your monthly bills, there is no need for concern since these do not pose a threat to your availing a payday loan. You can borrow cash till your payday by walking into a cash advance loan retail outlet in your neighborhood or apply for it online.

Shop Around

It is good to look around and compare rates and deals offered by various lenders before deciding on a particular lender. There are many deals that are available and comparing them helps in picking one that suits you the most. You can borrow cash till payday by taking out short term advances either online or through retail outlets.