A same day loan will not be right for everyone – as everyone’s personal financial needs vary. However, a same day loan is great if a financial emergency strikes.
Before applying for a same day loan, it is important to consider all of the pros and cons to same day loans. Below, we have compiled a short list of the advantages and potential drawbacks to using a same day loan.
Advantages to Same Day Loans:
- The application process is straightforward and fast
- Same day loans are sent to your nominated bank account on the same day
- Great for one-off-expenses or urgent bills you need to pay
- Repayments are automatic and over a set period of time agreed with the direct lender
- You can borrow a set amount
- Can be used for multiple personal reasons
- They do not require collateral e.g. an asset like a house or car to be borrowed
Drawbacks to Same Day Loans:
- Missing or avoiding repayments can lead to late penalty fees and additional interest
- Same day loans are a form of debt, which could lead to further long-term debt
- Interest rates apply to same day loans and may be too expensive for you
- Same day loans are short term loans so should not be used for long-term ongoing payments
- Applying for a loan can affect your credit score due to credit checks
To apply for a same day loan with Kallyss, you must first meet our eligibility criteria. To receive a same day loan, or any other type of loan through Kallyss, you must:
- Be of legal age (18 years or above)
- Live in a state where it is legal to borrow same day loans (find out more here)
- Have an active bank account
- Be a US citizen
- Have a stable income of at least $800 per month
- Provide us with personal contact details (email, address, mobile number etc)
- Have proof of ID (State ID or a Drivers License)
Once you have met our basic eligibility criteria, you can easily get started today to borrow a same day loan and receive cash fast.
Keep in mind that Kallyss is not a direct US lender, but rather, a loan matching service that operates in several states across America. Once we have received your application for a same day loan, we will use the eligibility criteria and provide personal information to ensure you can afford to both borrow and repay the same day loan.
Provided you meet all of the eligibility and affordability checks, we will then send your application off which will be matched to one of our direct US lenders. They will also run some quick background checks to ensure that you’re in the financial position to use a same day loan and repay it according to their agreements.
While a same day loan may be something you’re considering, and you fulfil all of the above criteria, we also recommend considering alternative options to loans. Loans are a great option if you are in a financial emergency. However, alternative borrowing options are through speaking to friends or family who may be able to provide the money you need short-term.
Apply online today easily with Kallyss to get your same day loan.
All you have to do is fill out one of our online loan request forms, and sit back and relax before being instantly matched to a direct US lender.
You will then be given a provisional quote to which if you are happy with, you can proceed with and accept. Your money will be sent in usually under 24 hours, however if not, by the next business day.
Repayments are also made easy. However, if you would like to begin repaying immediately or would prefer a longer period of time to repay then contact the direct lender.
Get Started Today.