There are times when you need to have a huge sum by your side in a very short span of time. Events like a health emergency, sudden and important expenses, the fee to pay for kids’ education, and much more cause this emergency need for money. A delay of one second can lead to endless misery if one of the above happens to you.
Thankfully, some routes will help you lend money instantly. Knowing those means will come in handy in those needy hours.
Trusted Ways to Borrow Money Instantly
Have a look at the below-mentioned places from where you can borrow money right away.
- Credit card cash advance
Your search for instant funding will end at your credit card company. If you have a credit card, then you can borrow money in cash from the nearest ATM. Just take your credit card, visit an ATM, and withdraw cash. There is no application to fill out, no documents to verify, and no background check that can consume your time.
But, keep in mind that this is perhaps the most expensive way to lend money in the nick of time, as the interest that you will have to pay on borrowed money would be way too high.
Of course, banks are a safe place to lend money safely. You can take a personal loan from the bank to meet those urgent needs.
Based upon the bank you’ve picked, you can avail yourself of facilities like no origination charge, no processing fee, and same-day approval. But, this is not a hurdle-free way to acquire money as some banks may have a stringent loan approval process or may involve you in too much paperwork.
Also, getting a loan from the bank isn’t so easy if you’ve got a poor credit score. This can cause so much delay.
- Online lender platforms
It’s not easy for a common man to complete the loan–related formalities easily.
Also, if your credit score is poor, the bank won’t be ready to grant your loan. This is where the help of online lender platforms comes in handy. Platforms like US Installment Loans bring thousands of verified online lenders together and help money-seekers get instant loans.
Such platforms are useful for getting instant payday loans easily. The best part about using these platforms is that your credit score doesn’t matter too much. There is not too much paperwork. So, the odds of having a loan application approved are very high this way.
- Pawn shops
If you’ve got some valuable items like jewelry, electronics, antique items, or other articles, then you can use them for instant funding. Go to a pawn shop and sell them out there. You will get the best value at pawn shops based on the value of the article. And, if you’re able to pay the high interest, then you can get your item back as well. But, this is generally not recommended.
- Friends and family
If you’ve got a friend and a family circle that stand with you in your thick and thin, then you can borrow money from them. This is perhaps the most hassle-free way to procure money. It also involves zero paperwork and verification. In fact, the interest rate would be low.
The only hassle is that your relationships can get ruined if repayment is not on time. So, you have to be very clear about the repayment terms.
Things To Keep In Mind While Borrowing Money On The Same Day
No matter how urgent it seems, one must not make a hasty decision and get a loan just like that. Here are a few things to keep in mind during the process.
- If you’re lending money from banks or credit card cash advances, then kindly pay attention to the interest rate and fees included. If ignored, these fees or charges can cause too much trouble. At times, the interest rate could be so high that you won’t be able to pay back the money. This will be the start of tons of hassles. So, take out some time and pay attention to these two things.
- Don’t sign any documents in a hurry. Read the conditions mentioned in the document thoroughly. Signing any document without reading it can cause a lot of trouble.
- Check the debt cycle beforehand. If the debt cycle is not proper, you could face a prepayment fee that is too high to pay back. Sometimes, lenders tend to sue the borrower for non-payment.
Borrow Money Instantly and Wisely
It’s natural to panic when a sudden financial emergency arrives. But, maintaining sanity even in this kind of situation is important. Check all the available options, compare the offerings, and then make a wise decision, a decision that you won’t regret later.