Introduction
When you are in the need of money, most of the times, you need it as early as possible. The quick processing of the loan eases a lot of burden from the borrowers perspective as he can plan his finances well. One hour payday loans take the concept of
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fast loans to a new level as the processing of the loan takes a maximum of one hour. These super fast loans are the apt solution for you if you are looking for a quick remedy to your financial problems and are secured against your next salary.
Availability
It is the online availability of these loans that make them so fast. You apply for these loans online by filling up a form and then the moneylender contacts you by an email or phone. The moneylenders dont check your credit status to grant you a one hour payday loan and hence these loans are available for people with all sorts of credit status.
After you have applied for the loan and your loan has been processed, you can expect the loan amount to be available for you within 24 hours of the loan application.
Statistics
One hour payday loans are very short term loans which issued for a very short period of time and also the loan amount generally is not much great with these loans. The loan amount available with these loans may be up to 1200 starting from 100. The loan term for one hour payday loans generally may vary between a week and a month. The interest rates for these loans are pretty high and for a loan amount of 100 you can be charged 25 for a period of 30 days. Thus the annual interest rates are in hundreds of percent.
The repayment duration for these loans can be extended for three days and then for further subsequent intervals, but this is not advisable unless an absolute must, because you are charged a hectic fee for that.
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