A payday loan is an unsecured loan that does not require any guarantor and is collateralized by lien which circumscribes all types of mortgage forms, and in case the borrower is not able to repay the loan, the lien then becomes the property of the lien holder. A payday loan is used for short period of time to meet the unexpected expenses. You can now apply for an online payday loan by applying to a bank and filling the personal details about income and expenses and to facilitate the process, inbuilt online calculators are used to calculate the loans and the EMI (equated monthly installment) that needs to be paid within a given time period. Continuous Payment Authority (CPA) is also a method through which loans can be repaid automatically through your bank account.
Following are the documents which are required while applying for a payday loan. They can also be found at chwilowka-bik.pl
- A valid ID: A valid identity proof is required for all the basic details of yours like name, age, mobile number, etc. so that incase you do not repay the loan, your identity can be used to find you.
- Address proof: an address proof is also required so that it can be confirmed about where you live and whether you have a house of your own or live in a rental property.
- Bank account details: your bank account details are also need to provide to the money lender so that your financial condition, your income and expenses can be monitored and analyzed and confirm whether you will be able to repay the loan or not.
- Salary slip: this is required so that the money lender can know how much you earn on monthly basis and will you be able to repay it till the next payday or not.
- Employer information: some money lenders also need your employer’s information to verify the details to prevent any fraudulent activity and to know whether the employer is genuine or not.
- Transaction details: some lenders require your transaction details of last 90 days to evaluate your budget and capability of repaying the loan.