Everybody faces difficulty, and sometimes, the unforeseen gets us off guard. From fixing a punctured tire to dealing with due rent bills, payday loans offer speedy answers for your financial burdens.
Whenever you’re suffering a monetary crisis, no matter your credit score, payday loans are the best option, and you can get them easily from neighboring states since they are currently prohibited in Arizona.
All you have to do is confirm that you meet all the necessary requirements provided below, fill out our application form, allow us to link you with an approved lender that will verify your loan approval, and boom! You will receive the loan you need to tie financial loose ends.
Applying for payday loans on our site is FAST, SECURE, and EASY. We honor your time, so we have made the loan acquisition process smooth.
What are the Loans Packages Available to Lenders in Arizona?
Payday loans, sometimes referred to as cash advances, are temporary loans (usually between $100-$500) procured to resolve emergency monetary issues and repaid with your next paycheck. Payday loans do not consider your credit score, making them one of the fastest and easiest ways to fix your money problems.
|Minimum Loan Amount||$100|
|Maximum Loan Amount||$1,000|
|Minimum Loan Term||14 days (2 weeks)|
|Maximum Loan Term||31 days|
|Maximum Annual Percentage Rates (APR)%||459%|
|Collateral or guarantor||None|
|Non-Sufficient Fund (NSF) Fees||None|
|Number of Simultaneous Loans||None|
|Extension, repayment plan||Not permitted|
|Credit Score Requirements||Accessible for bad credit|
Unlike payday loans, installment loans allow you to repay your loan over three months to three years, depending on the agreed terms with the lender. Installment loans are more straightforward to financially plan for as you regularly make scheduled installments instead of paying once your paycheck arrives.
|Minimum Loan Amount||$1, 000|
|Maximum Loan Amount||$5, 000|
|Minimum Loan Term||90 days|
|Maximum Loan Term||36 months (three years)|
|Annual Percentage Rates (APR%)(Minimum)||6.63%|
|Collateral or Guarantor||None|
|Credit Score Requirements||Unrestricted for low credit score.|
Personal loans are loans given to you by authorized lenders that you are expected to repay throughout a set timeframe, usually between 3-60 months. Personal loans can be used for making rent deposits, paying hospital bills, improving your home or car, and going on vacation.
|Loan Amount (Minimum)||$1,000|
|Loan Amount (Maximum)||$35,000|
|Minimum Loan term||90 days|
|Maximum Loan term||60 months/5 years|
|Minimum Annual Percentage Rates (APR%)||4.99%|
|Collateral or Guarantor||None|
|Credit Score Requirements||Your credit score doesn’t matter|
Payday Loans Legality in Arizona
Payday loans are prohibited in Arizona. In July of 2010, the law that approved payday loans in Arizona expired, and several attempts to renew it have not pulled through. Since that pivotal month, payday loaning in Arizona has been restricted. Currently, authorized moneylenders in the province of Arizona are mandated to stick to the 36% APR (Annual Percentage Rate, meaning the yearly interest rate on loans)
However, you can take out payday loans from neighboring states to rectify your emergency monetary issues, or other short-term loans like title loans, regardless of your credit score. All you have to do is fill in some of your details in our application form, and we’ll review your loan choice and recommend you to a trustworthy lender.
Other Available Alternatives to Payday Loans
Title loans are temporary loans that allow you to use your automobile as collateral. All you have to do is ensure you meet the requirements and provide a spare key for your car and a car title. You might get to keep your car and drive it around while you repay the loan. Note that title lenders have the right to seize your car without informing you if there’s a loan default. All they need is an order from the court. If the lender doesn’t possess this, don’t give up your car.
Debt consolidation loans.
Debt consolidation involves reducing the interest or increasing the loan term of your credit card debts or a blend of both. Here, you will be given a loan to pay off your outstanding debts on your different credit cards, and then you will repay the loan in regularly scheduled payments, usually monthly.
Before applying for a debt consolidation loan, evaluate whether this loan choice is ideal for you. You must understand that consolidating your debts implies that you will have to make monthly payments, and doing this might still not lessen your debts or fasten your debt repayment. So, consider if this loan type benefits you.
You can get a debt consolidation loan from a bank or an online lending company. Note that your credit score and borrowing history might be considered.
Already mentioned earlier, installment loans give you the liberty of scheduling and paying back your loan in bits and pieces over three to thirty-six months. Installment loans, unlike payday loans, have a stable interest rate and no repayment punishments.
How to get a payday loan online?
If you want to get a payday loan online, follow these five steps.
- Visit a safe and secure website like ours and check if you meet the outlined requirements.
- Once confirmed, click on the link to the application form and fill the blank spaces with the right information.
- Go over the application form to ensure that every information you entered is accurate.
- After confirming your details, submit the form for review.
- Once your form has been reviewed, you will be notified of its approval, and an authorized lender will deposit your requested loan into your account in at most one business day.
What do you need to obtain a payday loan online?
Before you can secure a payday loan, you must:
- Be 18 years old or above.
- Have a steady income source. Some states require that income source provides you with $1,000 monthly.
- Have an active checking account that has been effective for at least one month.
- Have a legal ID card granted by the US government or provide your driver’s license.
- Have a valid Social Security Number (SSN), active phone number, and verified email.
- Not be an active member in the military.
A payday loan fee example
A $100 payday loan with a minimum of 14 days will have an interest rate of:
Annual Percentage Rate (APR%): 459%
Loan procured: $100
Finance charge (for 14 days):$17.65 * 1= $17.65
To return: $117.65
APR% Calculation= $17.65/14 days = 1.261 * 365 days
Can you do payday loans in Arizona?
Yes, you can get a payday loan to fix your financial emergencies.
How do payday loans work in Arizona?
Before taking out a payday loan, you must meet all the stipulated requirements. After that, fill out some of your personal information in the application form, get approval from a legal lender and receive your loan in at most one business day.
What are 3 alternatives to getting a payday loan?
There are other alternatives to payday loans. They include installment loans, title loans, and personal loans.
Are installment loans legal in Arizona?
Yes, installment loans are permitted in Arizona.