Payday loans also termed as cash advances can be availed during weekends too. There are named weekend payday loans and are fast and easy to get. They aid people to get some cash quickly to help them take care of their situation until they get their next paycheck.
Eligibility Criteria For Weekend Payday Loans
A weekend payday loan comes with lesser requirements than any other loan. The following are the most basic criteria if you wish to qualify for a weekend payday loan.
- You must meet the minimum age criteria of 18 years that are applicable in most of the states in the U.S.
- You must reside and work in the U.S. legally.
- You must work for an employer for a minimum 90 days.
- Hold an open as well as a valid checking account.
- You must be able to provide income proof mostly a pay stub. However other documents may also be accepted.
- You must have a valid mobile number
If a borrower applies online for a weekend payday loan, the requirements can be a little bit different.
For instance, you require to provide a checking account as well as a Social Security number.
There are few weekend payday lenders who will never lend money if you are filing for any bankruptcy currently.
You must be aware that no such credit check takes place or there is no need for maintaining a minimum credit score.
Unlike any other loans, the rate of interest is flat and never changes depending on an individual’s income or any other factors.
The state you reside in is the biggest factor that determines how much you need to pay in fees on a weekend payday loan.
What Are The Valid Documents To Apply For A Weekend Payday Loan?
If you have an urgent need for a weekend payday loan, then you must have these documents handy to become eligible for getting a weekend payday loan.
These can the documents for verifying personal details and income details of a borrower.
The payment option usually varies according to a payday lender and the way you apply for a weekend payday loan but there are some basic banking account details that are essential.
- Valid Identification
- Residential Address
- Valid e-mail address
- Income type and frequency of your pay cycle
- Name along with address as well as contact details of your employer
- Your net as well as gross income amounts
- Pre-authorization of checking account or a debit form from your bank
- A post-dated check (few weekend payday loan lenders can take)
Should You Apply Early For A Weekend Payday Loan?
If you wish to increase your chance of availing a payday loan on a weekend, apply as early on a weekend as you can.
This is because some stores get closed earlier on Saturdays and are closed completely on Sundays. Other than this, various in-store weekend payday loans include cut off times for financing and disbursement of the loan.
If you miss this cut off then it would delay funding most likely until the next day morning i.e. until Monday.
Online weekend payday lenders will let you apply for such a short-term loan on the weekends, but there is a high chance that you will get it on the next working day.
The one way by which you will have access to the funds of your online weekend payday loan is if these loans are offered to you on a prepaid debit card that is linked to your money.
It will need some planning from before. You must get the prepaid debit card from the weekend payday store or via online mode before you require to have some access to your funds. Once you own a prepaid debit card, a weekend payday lender just needs to load the funds on your card. It can be done on a Sunday and there is no need to wait for the next working day for funding of the weekend payday loan as it will be a transaction that will be conducted in-house.
Debit cards also work on Sundays similar to other days.
Always remember that no online transfer typically gets processed until the next working day. Based on a bank, it implies that it can easily take 2-3 days from the approval time of the weekend payday loan before the money appears in an individual’s checking or savings account.
But there are a large number of payday lenders who are working online nowadays. So if you wish to obtain a weekend payday loan it will need you to carefully choose a lender who has a physical store that is open during the weekend and also offers weekend fund disbursement.
So how fast you will be receiving your money will depend on if you have applied in person or online. If you will apply at a store you will be getting the money from there immediately. If you apply online then you may have to wait for 1-2 days maximum.