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When you want to get secure instant payday loan approval, it is easier than you might think. Contrary to what most people believe, this loan is hassle free and quickly disbursed. How this loan type is different from the others is important to understand before you take one for yourself.

Understanding The Procedures

Your assets vs liabilities are the first and foremost consideration for loan approval for you. When you have more liabilities than assets, you cannot avail this loan, however if you can convince and show proof to the lender of a high probability of your gaining assets in the near future, he may grant you a secure instant payday loan approval.

Now, the interest rate in the case of unsecured loans is about 15%-30%. On the other hand, a secure loan is definitely easy on the pocket as it is has an interest surcharge of 2%-3%. A secure payday loan approval never comes for free!

There is another pointer, that is credit checking. Credit checking is done to reduce the chances of risk. The lender likes to ensure that you will not turn out to be a defaulter or you don't have a history of bad credit before he hands over secure instant cash approval to you. It has to be a win-win situation for both the parties, you, the borrower and your lender.

Criteria For Eligibility

Not everyone can get secure instant payday loan approval, so here are the criteria for eligibility for this loan that you must check before you fill out the online application form for the same:

o You should be over 18 years of age

o You should have a steady job paying you a monthly salary as required by your lender

o You should have regular access to the internet

o You should have a valid bank account

o You should be a citizen of the US

Once you fulfill the above criteria, you can sit back and be glad that you fit the bill. Only the security of your assets such as car or house is required and the loan is yours.

You get the payday loan approval online and the money is deposited into your account via electronic transfer. Some lenders ask for the last pay-slip along with the online application form; however that is no big deal once you are determined to pay the loan back on time.