The online loans are handled online via Internet banking. Many payday companies have established their websites on the Internet. Each site offers the same fundamental service and only differs in credit checks and loan sizes.
Several sites may even offer loans as much as 1600-2000 dollars. Payday advance loans are short-term loans that must be paid by the next payday or within several weeks. Payday loans utilize APR a form of short-term interest rate. This rate is measured as a percentage of the loan. Payday loans are rapid and secure; clients will be able to access the requested loan within 24 hours.
The online aspect of the payday loans system from www.pay-dayloans.com.au makes it a more viable solution to standard banking loans. Clients are not required to present any form of documentation to the website. Applying for a loan via the payday service is simple.
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Clients will log into the payday service website and enter their personal details by completing an online form. The form is then submitted via the website for approval. Once the loan is approved, the client will receive a notification via email. The payday service will review the request and instantly approve it if everything is in order.
Once the approval process is completed the funds are deposited in a bank account specified by the client. This process will take several hours depending on the bank account of the client. During each transaction a client will be designated a loan handler who will assist in the transactions. Any problems such as missing funding or delays in depositing can be brought up with this handler at any given time. Customer service representatives can be found via online chat and telephone. The contact details of each site are located on the contact page of the website.
A due date extension can be delayed in case of emergencies such as unemployment or bank errors. Loan extensions invoke an additional APR rate, which will increase depending on the payday site that has offered the loan. Several sites offer a 94% APR rate for an extension of 12 months. The APR rate increase can be calculated online via the website. Each website has its own rate therefore there is no set standard for interest rates. More information regarding APR increases can be found by contacting the customer service line listed on the website. The interest rate is higher with payday loans due to the fact that loans are generally approved. Delaying a repayment period is not recommended as the APR rate can accumulate to a substantial sum.