Finance Strategies – Military Payday Loan
Posted on August 29, 2010
Filed Under Debt Relief, Loans, Mortgage, Personal Finance, Refinancing Solutions | Leave a Comment
Do you have an unforeseen expense that has come up – such as automobile repairs, dental or medical bills, a forgotten utility payment that needs your immediate attention? Being in the military does not exclude you from becoming short on needed funding for items that you need now but cannot afford until your next payday.
Low Interest Short Term Loans
Military payday loans are available only for members of the Army, Navy, Air Force, Marines, Coast Guard, National Guard, and National Reserves. The interest rate on your military payday loan cannot exceed any government caps that are imposed upon such types of loan, which means that you will save money on this type of loan versus what the average borrower would pay.
A military loan can be in amounts starting at $100, up to as much as $1500 or more, depending on your needs and your ability to repay the lender. The only requirements for the military payday loan is that you are an active or retired member of the military, have income, and a checking account with a positive balance. There is no credit check.
Cash Now For Current Needs
The military payday loan requires you to present a post-dated check for the amount of the payday loan, plus modest interest charges. There are certain instances in which the military loan can be repaid in installments. This practice varies widely from lender to lender.
The lender will then deposit the check into your bank account to receive payment.
Convenient, Secured Websites
To obtain your military payday loan, you will visit your chosen lender on their secure website. You will fill out a very brief application that will ask you to provide proof of your military status (although ranking or seniority does not effect your interest rate at all), personal identification information such as your state issued driver license card, banking information, recent and past employment information, personal references, and other information.
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Related posts:
- How A $300 Payday Loan Can End Up Costing You $2.500
- Payday Loan Consolidation Companies – When Everything Else Do Not Work But You Still Need Assistance
- Do You Need a Payday Loan
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