A payday loan deposited to your savings account is a good option for people who don’t have access to a checking account but have a savings account. These loans are essentially the same as a standard payday loan, but they are deposited to your savings instead. Contrary to popular belief, a lot of U.S. residents don’t believe in banking, but opt for a savings account for safe keeping in order to take advantage of higher interest rates than a checking account provides. That being said, there are payday lenders who cater to this type of consumer!
Why Would I Want a Payday Loan to my Savings Account?
Well, the reasons are essentially the same as why people don’t have checking accounts or credit cards. Maybe the person just isn’t comfortable with their checking information being submit online or they simply believe banks are corrupt financial institutions. This isn’t for our website to address, we are simply here to be the bridge between those looking for savings account payday loans and the lenders willing to deposit the money into said person’s savings account. If you only have a checking account and not a savings, you can still apply for a loan; all we’re saying is both are available so we can appeal to a broader market of individuals seeking a convenient online payday loan.
If this is the type of cash advance loan you’re looking for, well, you’ve found the right place! Our entire business is based on linking you, the borrower, to the lenders who will be handling your application review, approval, and loan. For our service, InstantLoanNoCreditCheck.com is compensated with a commission, or a finder’s fee, for referring you to them. The lenders are profiting from the loans you apply for (if approved and accepted) as payday loans aren’t a charitable cause unfortunately. In any case, they provide a valuable service for millions of Americans facing financial difficulties every year.
Unfortunately in this day in age, financial emergencies seem more and more common every day between every day expenses like food and shelter, to rising gas costs, to unexpected car breakdowns, plumbing leaks, etc. With gas prices on the rise it costs more to get to and from work meaning you’re essentially decreasing your day’s pay just for showing up. Then, the next thing you know, your tire pops on the freeway on the commute and there goes another $200 that you didn’t have to spend, right? Now you have to go home and cut your budget for one thing to put into a new tire to fix a problem that didn’t even exist the day prior.
But what if you don’t have the extra $200? If you skip out on the next few days of work waiting on your paycheck, you are losing out on all of the money you would have earned if you only had a new tire. This is exactly the situation that savings account payday loans are perfect for! If you’re paying $50 on a $500 payday loan, compare that to the cost of losing a week’s worth of wages or taking a taxi to work every day. Transportation costs can, by far, outweigh the cost of taking out a payday loan.
You may have heard negative things said about getting a cash loan from online companies for such circumstances, but if you’re smart and run the numbers you can see how the positives outweigh the negatives of forgoing paying a bill, defaulting, not repairing something around the house, etc. It’s your responsibility to make the best choice; we’re here to help you when you do.