The individual lenders have their own terms and conditions, including the interest rates, which can be discussed with you directly. Interest rates, as stated previously, can differ depending on the lender, but that of payday loans can be considerably high, ranging from 200% to 1300%.
What Are The Loan Limits?
At our last estimate, with over 60 lenders, MoneyMutual can connect you to people who can provide immediate money ranging from $5,000 to as high as $35,000 in some cases. Smaller loans, like those between $300-$500, can also be applied for and are often a lot more common versus higher amounts.
Since MoneyMutual is a middleman in the lending process and helps connect consumers to potential lenders, they do not have a say in the terms and conditions of the loan-taking process. These terms depend on the lenders and can be directly negotiated with them.
This is an important reminder to read everything thoroughly before signing up for the loan to prevent misinformation regarding the policies and procedures, and so you completely understand what your rates, terms and conditions are.
The loan amount that can be issued could range from $5,000 to $35,000, depending on a number of variables
MoneyMutual can offer three kinds of loans, which can include payday loans, cash advances, and bad credit loans. Payday loans are the easiest to get with low qualification criteria; however, they usually have high interest rates.
A cash advance allows you to get a loan in cash other than that of your bank account and gives you the option of paying it back by your next pay check or in instalments. Bad credit loans are also provided if you qualify for the bare minimum criteria.
Based on the versatility of MoneyMutual, it can aid with emergency funds in so many different scenarios. It is really up to you to pick with lender is the best fit for you.
- There is a very fast application process
- MoneyMutual has a variety of loan types
- A very secure and encrypted website
- Smaller loans (as little as $300) and larger loans (up to $35,000) available in some cases
- The person borrowing the money (borrower) must earn at least $800 a month to qualify
The following are essential factors that we kept in mind as we chose MoneyMutual as the number one provider. So, if you are planning to get yourself a loan, make sure to keep these factors in mind. Whoever you chose as your lender for a bad credit loan, it is important to asses them on the factors that you will read about below.
- MoneyMutual has a strong reputation
This should be your first and foremost consideration when you are looking to get an emergency loan. MoneyMutual is one of the best in the industry. Before you take out the loan, be sure to look through the company’s consumer review section. In this section you will be able to read about other borrowers who have been able to get emergency loans. As well, you will be able to read about how their customer service experience was.
- What are the terms and conditions that MoneyMutual offers?
Lenders will typically give out loans to borrowers with credit scores in the 600 range. However, those who are willing to give loans at even lower scores are rarely found. Therefore, it is important for you to try to find a platform or lender who works on flexible terms and can lend you a loan even with a credit score below 600. What we are trying to say here is that MoneyMutual has very flexible terms and conditions. That is because they deal with so many lenders. Remember, the interest rate as well as the terms and conditions will be specific to each lender. Therefore, when you chose a lender of your liking, be sure to understand what their terms and conditions are, and be sure to understand what the interest rate is.