Stay Aware of Loan Brokers – Don’t let them charge you uselessly
Fill Online Application Form With Direct Lenders for Cheap Borrowing
Knowing the fact that online short term loans are very popular among Canadian consumers, many brokers have started online business of selling this service. Some if them are good but some of them are unsurprisingly clever to take high loan fee including brokerage fee. Showing up a network of affiliated lenders is good thing but what if one can directly get connected to payday lender without paying any brokerage fee. This is what payday loans Canada Direct Lending is all about.
If someone bears excellent internet surfing skills, then he can figure out that there are many online brokers who are obscured, claim to be direct lenders and expertise in incurring hidden fee from borrowers. Just don’t let your financial matters get even worse. They are nothing but third party involved in payday lending process. Keep an eagle eye to look upon for reliable one.
Online Payday Loans Direct Lenders – No Intermediate Loan Fee
How to know difference between Direct Payday Lenders and Brokers?
There are hundreds of website over interest that claim to offer payday loans directly. They are just aggregators who collect all necessary information from borrowers and pass it to a network of payday lenders. They don’t make any loan approval decisions; they don’t determine borrower’s eligibility to qualify. They simply work as database for lenders who store personal information of applicants.
There is also a security issue with such persons, that is why borrowers often worry about sharing their personal details online. However, consumers who are in desperate cash needs, do not care about these things and rarely share submit their details on unknown sites for which they might suffer later. If you want to figure out that who is real one, then have look upon their license.
Requirements for Direct Payday Loans
The basic requirements to borrow short term loans are very simple. An applicant must be 18 years old. He must be a Canadian citizen or must be a permanent resident of province in which he is applying for loan. Additionally he must be working under same employer since last three months and must be earning at least $1000 per month in order to fulfill repayment terms. He must posses active bank account in any Canadian bank to carry out all loan transactions.
Advantages of borrowing from Direct Lenders
Instant Decision- When an applicant applies with direct lenders, there mare maximum possibilities of getting instant decision from lender’s end. That is, your loan application got rejected or approval, you get to know that just after few minutes of applying.
Safety- Sharing personal and bank information with direct lenders is safer comparatively. They take strict measures to keep information secure and private right from lending till repayment. So, an applicant can stay stress free regarding exposure of his details.
Better Interest rates and Loan Fees- As mentioned earlier, there is no hidden fee, borrower is just supposed to pay interest rate and loan fee set under regulation by Consumer Council of Canada.
