You can get a weekend payday loan online from a variety of different lenders and brokers in the US. Payday loans can be viable options when it comes to financial emergencies, along with the likes of emergency and installment options available, when you need to borrow money online, as they provide funding fast and are repaid by your next payday when you have more money to repay the loan amount plus interest.
However, if you are considering borrowing a payday loan on the weekend yet are unsure how they work, if you are eligible or if they are even right for you, then read on to find out. Traditionally, most loans in the US have been provided in store and therefore over the weekends, options have always been limited. However, with more and more lenders moving online this is not the case. It is possible to find loans 24/7 in the US, no matter where you are, as long as your state permits payday lending.
What Is a Weekend Payday Loan?
A weekend payday loan, just like a normal payday loan; a short term loan which is repaid by an agreed date, usually in a single payment amount. Weekend payday loans are unsecured personal loans, meaning borrowers are not required to provide any collateral, such as pledging an asset like a house or car, to borrow the loan.
Weekend payday loans can be for many, a great option if you need to get cash fast due to a financial emergency, yet don’t have the funds at the weekend to pay for any unexpected bills or expenses, like credit card bills, utility bills you need to pay and more. These are useful loans for those that need to ensure expenses are paid for instantly, to avoid further stress or personal and financial problems.
How Do Weekend Payday Loans Work?
Weekend payday loans are personal loans which you can apply for online, and in most cases can get an instant decision. Just like normal payday loans, funding is given as quickly as possible – however, this depends on the direct lender and if you are approved or not.
The money can be sent to your nominated banking or checking account in as little as under 1 hour, or by the next day where possible. However, not all weekend payday loans guarantee you will receive the money you’d like to borrow in the time-frame you hope for as it depends on who you borrow with.
Once you have received the money, you can then use it for whatever personal reason you may have. You will then, on your next payday, be expected to repay the amount of money you borrow as well as any interest you may have accrued. Therefore, it is important to borrow the right amount of money as your next payday may leave you too short financially!
Where Can I Get a Weekend Payday Loan?
You can get a weekend payday loan either online or in-person at a local store. Most people nowadays, however, opt for online weekend payday loans as these can be applied for from the comfort of your own home. Furthermore, with lenders and online brokers using the latest technology to match borrowers with lenders and with the best loan products wherever possible, borrowing money online is fast becoming the norm in the USA.
Applying online for a weekend payday loan is increasingly popular amongst US citizens, as many are now facing the consequences of everyday costs of living rising. Online weekend payday loan applications are typically straightforward and quick to complete, meaning you can get funding fast for financial emergencies.
How Can I Get a Weekend Payday Loan?
In order to get a weekend payday loan, you will usually need to meet the company or direct lender’s minimum eligibility and affordability criteria. For instance, if you apply for a payday loan through Kallyss you must:
- Be 18 years old
- Be a US citizen
- Have a regular income
- Live in a state where payday loans are legal
- Have an active bank or checking account
Most other legitimate direct lenders or companies will have similar eligibility criteria. If you meet the above, you can then apply online today for a weekend payday loan. If a company offers a weekend payday loan without any eligibility criteria, then it is strongly advised you avoid using their services – as many Americans each day fall victim to loan sharks.
When Should I Apply for a Weekend Payday Loan?
Although weekend payday loans are usually approved quickly and money is sent fast to borrowers, there may be times where applying will guarantee approval. Applying first thing in the morning, and on the earliest day of the weekend, will ensure your application is sent off, received and checked through as quickly as possible. This way, you will be able to secure a better chance of being approved, so your money is sent quicker to you.
What Can I Use a Weekend Payday Loan For?
Weekend payday loans are usually used in emergencies. For instance, you may have incurred an expected medical bill which you cannot afford based on your current salary. You may also have other responsibilities and debts to take care of currently, yet have a temporary expense which needs paying before more debt and/or interest fees are accrued.
A weekend payday loan can be used for a variety of personal reasons. For example, a weekend payday loan could be used for:
- Travel costs e.g. to get you to and from a new job while your car is fixed
- Medical bills
- Veterinary bills
- Home bills
- Home repairs
- Temporary expenses
- Vehicle repairs
Whatever you want to use a weekend payday loan for, it is important that it is not an ongoing payment. Using weekend payday loans for shopping, entertainment or luxury purposes is never advised as doing so could cause you to spiral into further debt and bad financial habits.
What Are The Advantages and Disadvantages of Weekend Payday Loans?
Like all other personal loans and secured loan options, there are both potential advantages and drawbacks to weekend payday loans. If you are considering a weekend payday loan yet are unsure whether it is right for you, then you can find below a list of pros and cons to these types of loans. This way, it might give you a better idea as to whether a weekend payday loan is best for you!
The Advantages Of Weekend Payday Loans
- Bad credit is considered
- Funding is fast
- Applications are straightforward
- Help rebuild your credit
- Avoid long term debt
- Repay on your next payday when you have more money
- Useful for unexpected costs and financial emergencies
- Most people meet eligibility criteria
- No collateral required – meaning no risk of losing assets
The Disadvantages Of Weekend Payday Loans
- High interest fees can be applicable
- You will have less money on your next payday
- Avoiding or missing payments leads to more debt
- Less manageable repayment period
- Not useful for multipurpose spending
- Some companies reject applicants with bad credit histories
Where Are Weekend Payday Loans Legal in the US?
Not all states in the US allow payday lending, although it is permitted within state laws in 37 states, including the likes of Hawaii, California, Texas and Ohio. However, you can find below which states allow US citizens to borrow payday loans online.
You will need to live in a US state where it is currently legal to borrow payday loans in order to apply and receive one. You can find out here if your state allows weekend payday loans. When looking to get a weekend payday loan online however, you will have more options than in previous years, as you can compare different lenders and options, with comparison sites able to give you instant decisions and quick funding when you apply online.