Loans

Cash Advance

A cash advance is a short-term borrowing option that you can avail from the bank through your credit card. Banks usually allow credit card holders to use up a portion of their credit limit for immediate cash needs. You can withdraw this portion of your credit limit directly over-the-counter or through an ATM machine.

Payday Loans

A payday loan is a form of short-term debt that doesn’t require any collateral assets. The interest rates tend to be higher than personal loans because the debt is paid over a shorter period of time (around 7 to 30 days). However, the rates will still ultimately depend on the borrower’s income.

Micro Loans

Micro loans are issued by individuals or non-profit organizations instead of banks or traditional financial institutions. The borrowed funds may come from just one lender, or a group of multiple lenders may pool their money to come up with the loan amount.

Personal Loans

A personal loan is usually unsecured and based on your income. Since they come with low-interest rates, you might feel tempted to get one. Here are a few things that you should know! Credit score matters The personal loan doesn’t include collateral, so this means that the credit score is very important to the lender. …

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