What is the fastest way to get a cash loan?

Fast Cash LoansWell, you made it to Moola.co.nz pretty quickly, there’s not much more to go. Assuming your bank can handle our super speedy transfers, 60 minutes after approval you’ll have the cash in your account. A fast little loan online from Moola is looking pretty good, right; but what are some other options for a fast cash loan?

Banks? Not really. They’re quite slow and there’s a lot of waiting and red tape. Nowhere near as fast and easy as Moola when it comes to a quick loan.

You could take cash out of an ATM using a credit card. Except there’s almost always a fee for doing it, plus a higher interest rate than normal and often no sweet interest-free period. Plus, this idea only works if your credit card isn’t already maxed out. Not an ideal scenario for a cash loan right?

You could borrow cash from friends or family, but failing to repay a loan from those sources has far-reaching consequences that can affect your life for a long time.

You could pawn something but that’s a bit of a lose/lose situation when you think about it. You’re unlikely to get much cash for whatever it is you pawn and then, unless you pay the loan back, it’s gone, you don’t have it anymore.

Moola is definitely right up there as one of the fastest ways to get a quick loan. As long as you’re a New Zealand citizen or resident who’s over 18, not bankrupt, has a job, a cell phone, a bank account, an email address and access to a computer you’re pretty close to getting that cash in a flash.

It takes less than a minute to use our online calculator to design the loan you’re after, then we ask for a few basic personal details on the application form, but it’s all online so it won’t take long to get your cash loan organized.

How long does a cash loan approval take? To be honest it can vary; we’re responsible lenders so we like to make sure you’re not taking on something you can’t handle. Usually, though, the longest hold up is contacting your employer or payroll to confirm your details and employment status, so it can help to speed things along if you give them a heads up first. But once all that is complete and approved, start the clock, because of 60 minutes later your Moola Cash loan Christchurch will be in your bank account.

This cash loan is an unsecured loan; what can you do about it if I just walk away?"

Although there’s no collateral for the lender to reclaim, many short-term loan companies will get you to sign some form of security such as a wage deduction form as part of your initial agreement. In the event you’ve stopped making payments and are not contactable, the wage deduction is presented to your employer and your payment is made straight from your pay packet. Plus there’ll be a fee for implementing this.

Avoiding payment on your cash loan is no good for credit scores

Making multiple late payments or no payments at all will drag down your credit score and jeopardise your chances of securing other loans and agreements in the future. It’s better to make some payment than none, so if you find your circumstances have changed, get in touch with your provider immediately to work out a solution that works for both of you.

Thinking cash loans? Think first before taking out a cash loan

Although legislation has made many lenders far more responsible, and at Moola we’ve certainly made a lot of developments in our systems to make the process of applying for a cash loan fair and easy, it ultimately comes down to you. If you think you will not be able to make the regular payments necessary to cover a short-term cash advance simply do not apply for one.

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