In need of funds before pay-day? An advance salary loan is often what comes to mind. But now, you can download MoneyTap and get a line of credit that you can borrow funds from when you are in need of an advance salary loan. Think of it as your advance salary loan app.
Receiving a fixed salary at the end of every month should ideally guarantee financial security. Well, sometimes it doesn’t. The sky-rocketing costs in the cities have made making ends meet difficult at times. Sometimes, certain immediate expenses spring up that can't wait till the salary comes in. These are the times when you need a bridge to take you through till your salary arrives. Some choose to borrow from a family member or a friend and some take a long-term loan from a bank, but unfortunately, these solutions can prove to be quite inconvenient in the long run. Instead, an advance salary loan can help you meet your financial obligations.
In today’s time and age, FinTech platforms deliver flexible loan products that can help you take care of your financial needs without having to wait for the salary credit. You can simply repay the entire amount with the next salary pay cheque or repay the amount in instalments over a specified time span.
What Are Advance Salary Loans?
As the phrase suggests, an advance salary loan is a loan ahead of your salary. A salary advance loan is a quick solution to get a hassle-free loan when you need it without having to go through the embarrassment of asking someone for money.
Situations Where You May Need an Advance Salary Loan
While you make lifestyle choices to fit a budget, there are certain expenses that you just cannot put off until a later date. Such occasions cannot wait for your salary to be credited. However, these urgent financial obligations can be met by borrowing an advance salary loan. Here are some of the situations where you may need an advance salary loan.
The comparison table reveals the reasons why taking a loan from MoneyTap makes sense. MoneyTap not only makes loan repayment easy for you, it also saves money on the interest paid. MoneyTap loan is offered to you at an interest rate of 1.08% per month, which is much lower than what other lenders who give advance salary loans offer.
Use it Like an Advance Salary Loan App
MoneyTap is an app that offers a line of credit that you can get instant loans from. It can work for you as an "Advance Salary App" or "Early Salary App” giving you financial convenience with the following benefits:
How to Use MoneyTap as Advance Salary Loan
The loan offered by MoneyTap can conveniently give you the benefits you seek in an advance salary loan without going through the hassles you would otherwise. Here’s how you can use it as an early salary loan or advance salary loan: