Are There Payday Loans That's Good For People Who Don't Practice Usury?
The short answer to that question is, yes! If you need a payday loan or emergency cash loan to pay off debt, you can apply for what is called a ten dollar pay day loan. Christians and Muslims have financial troubles just like everyone else and may need some financial help. However, because of the spiritual laws against usury, many Christians and Muslims think they cannot get help from a payday loan in case of financial emergencies.
What Is A Ten Dollar Payday Loan or A Fixed Interest Payday Loan?
In essence a ten dollar payday loan doesn't mean you can only borrow ten dollars at a time, it means that for every $100, you pay back $10 in interest. The loan interest rate is fixed at a certain amount so it doesn't slide or move. In other words there is not gamble because the pay day loan interest rates are not variable, the are fixed. So if you decide to apply for a $1000 pay day loan, your fixed interest amount is $100. So you pay back $1, 100 when the pay day loan becomes due. Most pay day loans have variable interest rates so you can end up paying 1000 or 2000 percent interest depending on the amount of the pay day loan. If you borrow $100, then your fixed payback amount will be $110. Payback times are usually 2 to 4 weeks, which you can extend if you need more time.
Christians and Muslims who believe in adhering to their belief concerning usury can use these ten dollar payday loans with a clear conscience. You should not feel as if you have to choose between getting financial help and respecting and obeying the dictates of your religion. You can do this with a ten dollar payday loan.
How Do I Apply For A Ten Dollar Payday Loan or Fixed Interest Payday Loan?
There are companies online that focus specifically on ten dollar payday loans, but they usually loan money on all types of payday loans. When you contact a pay day loan company that you have researched, ask them if they have a ten dollar pay day loan option. Many payday loan companies will give you that option, just make sure you ask for it. Ten dollar payday loans don't require good credit, but it does require you to have a job or steady income paying at least $1000 monthly, a checking account that is set up to receive direct deposit and for you to be at least 18 years old.
Be careful when dealing with ten dollar payday loan companies or any pay day loan companies online. Make sure your research the company well before giving them any information. Payday Panda, a company that matches you up with over 60 payday loan companies may be able to help you find a reputable pay day lender for ten dollar pay day loans. If you decide to use Payday Panda, whatever lender they recommend for you, you should still research them and make sure they have a good reputation when it comes to lending moeny. Since giving out your bank information is involved, be careful who you give it to-do your research.
Your religion is very important and it is perfectly understandable that you want to respect your own way of life. It's a good thing there are some options out there for you when you need emergency cash fast!
Other Great Articles