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Instant cash loan is the answer to the growing problem of consumerism. In today's world, anything and everything is available at a price. More and more households are resorting to credit finance to purchase electronic appliances and necessities of everyday, But in your desire to acquire the products you need so desperately, you forget that you have only taken a loan and what you are spending and it is not your own money. You have to repay the amount of loan you take on your credit cards and other cards. Every dollar has to be made good to the issuing authority. Instant cash loan is an advance for a small amount of money for a short duration. Even though the interest rate is comparatively higher than other forms of credit, you do not feel the pinch when you realize that this is like online cash in 24 hours.
Instant cash loan can be of two types, secured and unsecured. In the case of secured loans, as the name suggests, you have to place some form of collateral security with the issuing authority. This collateral may be in any form movable property, immovable property or valuables. This form of instant cash loan usually takes more time as the value of the collateral needs to be assessed and examined by experts to decide the amount of loan that can be sanctioned against it. Secured loans are also cheaper than unsecured loans as they are for a longer term and the lender is assured of payment eventually.
On the other hand, if you have good credit rating and in the past, you have kept all your commitments of repayment then you can be offered an unsecured instant cash loan. In this case, the processing takes much less time as no collateral is involved. The rate of interest on unsecured instant cash loan is a bit higher as it is considered a short-term loan and is disbursed at very short notice.
There are many advantages of instant cash loan. You are free to select the mode of repayment as well as the duration of repayment. You can also apply for instant cash loan on the internet. You have just to download the application form, fill it up and submit. You get your credit before the day is over, if you have good credit. The amount of the loan, which is usually $ 500-1500, depends upon your income and your ability to pay back the loan on time.