There are over 2 and a half months before Christmas and expenses are fast approaching too. However, you have to wait for the 15th and 30th of the month before you can get the money.
Waiting for your salary to come might be the best option, but unexpected circumstances do occur. What’s more appalling is that there are the inevitable ones that need urgent action.
How can you deal with something urgent that involves money? Well, there is a salary loan that will assist you to answer urgent expenses. Other than that it can help you with your other spending too! Let’s find out how it can help you.
What is a Salary Loan?
A salary loan is a short-term loan based on the monthly wages of an employee. It is the best option for people who are short on cash and need urgent loans to cover unforeseen bills before their paycheck is credited.
It is very helpful for professionals to meet short-term financial needs, with installments deducted from their salary. Find out more benefits of applying for salary loans in times of financial trouble.
Salary Loan Benefits
We only have 2 months and 3 weeks left before the new year. We would not want to experience problems as we enjoy the remaining months of 2022. However, there is an unending financial problem every time. How can we deal with it?
A salary loan can help us pay urgent expenses, budget accordingly, and make these remaining weeks relaxing. Here are the benefits of getting a salary loan:
Higher Chance of loan application acceptance
The truth is, it’s hard to apply for a personal loan as it requires background checking if you can repay. The lender will consider your age and income levels. In this case, it would be hard if your monthly income is not that much. Your loan application will probably be turned down in that situation.
But with Salary Loan, they are considerate of your situation. They will give you terms to meet halfway on how you will repay based on your salary.
To pay your urgent expenses
Filipinos seek loans because of urgent expenses. We can never control life’s happenings. There are always unexpected ones challenging our financial capacity.
We do not know when accidents occur, things break, or medical expenses start to rise because life can be unpredictable. You must not let the financial problem be a hindrance to addressing those problems.
At this point, a salary loan might be useful. You could borrow what you require with the intention of repaying it as quickly as you can.
To pay your utility bills
The use of utility services like electricity and water might be in demand this Christmas season. With the current high inflation in the country, paying these bills is also a concern.
Aside from the increase in prices in the market, Filipinos will have to deal with a rise in generation charges. Last September charge went from P0.3581 to P6.9393 per kilowatt hour (kWh) in Meralco.
Applying for a salary loan can help you pay these fees and attend to your daily needs.
To help you budget this coming holidays
‘Ber’ months is not just about regular life, for Filipinos, the Christmas season starts on September 1. Of course, it is not only about celebrations but expenses too. You need to have a budget for upcoming occasions to make them unforgettable.
From food to gifts, celebrating is costly, you must have enough money to cover all those expenses. You can use a salary loan to cover celebration expenses as long as you will be able to repay the loan in a short time. It means you can enjoy occasions even if your monthly income is insufficient.
Salary Loan comes with flexible terms
Compared with the other terms required for loan repayment, a Salary loan is more considerate to borrowers. It does know your capability in paying and will make it easier for you.
Salary loans have flexible terms, with maximum loan terms of up to 12 months. These loans also allow for repayment flexibility, such as bi-monthly installments.
Your credit score is not a hindrance
One of the things that lenders check is your credit score. They would not likely let you borrow if your score is low. For first-time borrowers, lenders are often hesitant to let you borrow without it.
In a Salary loan, the credit score does not matter. You will not only get money to meet your needs, but you will also help build your credit score. The lenders will only check your social media account, savings, and investment data when determining your creditworthiness.
Pay it when your salary arrives
Since it’s a loan based on your salary, the lenders knew that you pay once your salary arrives. It gives assurance to the lenders for the repayment. While it also gives you the security that you will have the means to pay it back.
When choosing a salary-based loan, there are many factors to consider. These factors will not only make the process easier, but they’ll also ensure that you get a quality loan that works for you. Be sure to keep these considerations in mind when searching for the right salary loan provider.
Vidalia Salary Loan
Relying on salary loans makes financial planning easy and convenient. The flexibility of the loan structure allows you to purchase something you have always wanted without worrying about your future and with minimum fuss.
Nobody expects regular employees can get assistance applying for payday loans with lower interest rates. But there are ways to do it if you need a quick loan. Vidalia Lending Corp. is ready to help. We make things as easy as possible and offer flexible installments, so you can pay your loan off in small increments.
All you need is to apply online, get in touch with us here. A friendly team of customer representatives will always help when you are unsure about something or ready to fulfill the next steps.