It is not a very uncommon experience that we are in urgent
need of money and apply for a loan, but by the time we arrange all the
documents to be submitted, it takes up a lot of time. And finally when we do
get the loan amount deposited into our account, the very basic idea of getting
the loan turns out to be a futile exercise. Private finance lenders having
realized this have come up with ‘ ’ program.
As the name suggests, this is an advance finance scheme which does not require
any paperwork or documentation. All important details such as name, age,
employment status, monthly income, bank account details etc. can be filled in
the application form and submitted online. The application form too is
available on the lender’s website. The form is easy to fill and hardly takes up
any time. After the application has been processed and loan sanctioned, it
usually does not take more than a day for the cash to get deposited into your
This program proves very helpful for loan seekers with bad credit profile since
the lender does not look into past credit record.
Lenders give a loan ranging from AU$100 to AU$1500. The loan has to be returned
within 15 - 30 days. Creditor settles on the rate of interest depending on your
current financial status and credit score. It is worth mentioning here that the
interest rates on these loans are marginally high. Thus, a debtor must go
through the offer document before going in for this scheme.
Following are certain eligibility criteria that a borrower has to fulfill in
order to qualify for the finance:
* He or she should be 18 years of age or more,
* He or she should be permanent citizen of Australia,
* He or she should have a valid bank account,
* He or she should have a permanent job and his income should be more than AU$
1000 per month,
* He or she should have a valid debit card.
Russ Baden is author of Faxless Loans Australia.For more information about , Australia