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Need cash quickly? Find lenders doing fast loans with Personal Loan Pal!
Life’s full of crazy, unexpected moments. Often you’re barely prepared emotionally, let alone financially. Usually we are able to scrape through these situations, but sometimes, no matter what we do, we may need a bit of a hand financially, and fast! Now, we know trying to find a lender to offer you fast loans can seem like shark infested waters. You don’t need to worry any longer. Personal Loan Pal is here to help guide you through this process.
What is a fast cash loan?
We know what you’re thinking, “What exactly are fast loans?”
Well, the clue is in the name. Fast loans are personal loans that are easy to apply for, and will appear in your account within a few days of signing the contract. In short, the entire process from applying, to signing your contract, to receiving your loan is fast. Personal Loan Pal can find you lenders offering fast loans between $200 and $5,000.
Is there a difference between fast loans and personal loans?
As we said above, fast loans are actually just a type of personal loan.
Personal loans come in two distinct categories – secured and unsecured. We’ll quickly explain the difference between the two here:
- Unsecured personal loans: Unsecured loans are loans that do not need an asset to be put up as security against the loan. Unsecured loans tend to be smaller amounts than secured loans, this is because they pose less of a risk to the lender. We can find you lenders offering unsecured loans ranging from $200 to $2,000. These have a 12-month repayment period.
- Secured personal loans: Secured loans are loans that do require an asset to be used as security against the loan. The type of assets people put up against their loan are usually cars, motorbikes, boats or caravans. This is because secured loans are typically larger, ranging between $2,001 and $5,000. If a customer is unable to make repayments on their loan, the lender is able to seize the asset to recoup the money they lost. Secured loans, because of their larger amounts, have longer repayment periods, ranging from 13 to 24-months.
So why should I try find a fast loans lender?
Well, they are fast. If you’re in an emergency and you need to have funds in your account ASAP, fast personal loans could be the ideal option. Furthermore, if you use a service like Personal Loan Pal, the process is all done online. You could apply, be approved for, and receive your fast loans in your account without even rolling out of bed.
Are there downsides to fast loans?
Like everything, not all fast loans lenders were created equal. To find a lender that offers the loan terms you are looking for can take a lot of shopping around. If you enjoy having 10+ tabs open in your browser and multiple spreadsheets open, then you might enjoy this whole process. For those of us who don’t, a service like Personal Loan Pal takes the stress and hassle out of finding a fast loans lender.
What should I watch out for with fast loans?
Even though fast loans can be a life saver when your in a sticky situation, there are a few things you should be wary of before you jump in.
Watch out for lenders that promise you the world. This is often in the shape of promising you a loan, no questions asks. These fast loans lenders can often be a flat out scam, or have extortionate interest rates.
Another thing to note is that applying for multiple short term lenders at once, even if you do not accept any of their contracts, can have an adverse effect on your credit score. This may be especially damaging for those who already have a less than impressive credit score. Don’t worry though, if you find lenders through us, you won’t have to worry about any of this.
If you’re still apprehensive, we’ve got more information on who to trust in the lending game, right here.
Why should I use Personal Loan Pal to help find a lender?
We think we are pretty damn good at what we do. We’ve already helped thousands of Australians find fast loans lenders that are willing to help. But we’ll quickly take you through why we think we are the best in the biz:
- We’re fast:Our online form takes only a few minutes to complete. Once we have your information compiled in to an application, we’ll get straight to work finding you an available lender. If you apply during our business hours, we could find you a lender within a few hours!
- We work with the best:We only associate ourselves with reputable lenders. You won’t have to worry about being taken for a ride with the lender we pair you with.
- You can trust us:The lenders we pair you with will clearly disclose all their costs in their contract. Say goodbye to surprise fees!
Can you I still use Personal Loan Pal if I have a poor credit record?
You sure can! We understand that your past financial indiscretions should not be a black cloud over your head forever. We won’t pretend that the lender we pair you with isn’t going to credit check your application, because they probably will. Before you start clicking away though, let’s tell you why that is a good thing, and why we can still help.
A lot of people with bad credit fall in to a panicked state when they are in need of fast loans. Thinking that nobody will lend to them, they frantically search for fast cash loans with no credit checks. Remember before where we mentioned those less-than savoury lenders, promising you the world? Well these are not the people you want to get in bed with.
We only work with lenders who adhere to responsible lending practices; of which performing credit checks is one. However, these lenders prefer to look at your current relationship with money, rather than just your past. That’s why we use the latest in safe-banking technology to access a read-only version of the last 90-days of your bank statements. We then attach this read-only copy to your application. Lenders are then able to see that lately, you’ve been making a conscious effort with your finances, and therefore are more likely to provide you with the loan you’re looking for.
How do I apply for your lender-finding service?
If you’re keen to let us try find you an available fast loans lender, let us take you through the super simple process.
While all lenders will have their own eligibility criteria, there are a few industry standard requirements. So to use our lender-finding service, you must be:
- Over the age of 18;
- An Australian citizen or permanent resident;
- Be receiving regular income in to your personal bank account for the last 90-days;
- Have a contact number or email address.
How long does it take for fast loans to appear in my account?
Once the lender we’ve paired you with has approved your loan application, they’ll send you over a contract. Once you’ve read over the terms and cost of the loan, and are happy with it, send back over the signed contract. If everything goes to plan, your lender should send your loan over once they’ve gotten back their signed contract.
As we are a only a lender-finder, and each lender varies slightly, we cannot give you an exact time. While fast loans appear in your account super quickly, there are a few factors that determine how quickly. Firstly, the time of day your loan is approved. You’ll receive your money a lot quicker if the entire process happens during normal business hours. If you lodge an application outside normal business hours, the lender may not get to it until the next day. If you send the signed contract back during normal business hours, you could see the cash in as little as a few hours. Submit outside these hours, and you’ll probably be transferred the funds overnight, or some time the next day.
Also, your bank’s policies, and how they handle transfers like this, will also have an effect on how quickly you’ll see the cash. For questions regarding your bank’s policies, you’ll have to contact them directly.
How do I make repayments on fast loans?
Lenders will set up your repayments to be taken out of your account via direct debit. You and your lender will come to an agreement on the schedule of your repayments. You can choose to have your direct debit come out on a particular day either weekly, fortnightly or monthly. We always recommend to our clients to line up their direct debit day with their pay cycle. This way there should always be enough money in your account, and you’ll avoid those nasty dishonour fees (the last thing you need if you’re already doing it tough).
I still have more questions!
If we didn’t manage to answer all your questions today, or if any crop up in the future, head over to our FAQ page. If you didn’t find the answer you were looking for there, or would prefer to talk to a human, all our contact details are listed on our contact us page.
If you’re keen to get the ball rolling and let us find you a fast loans lender, apply now! With Personal Loan Pal, you’ve got a friend in your corner.