Magazine shop – Continental Mag http://continentalmag.com/ Sat, 19 Nov 2022 16:40:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://continentalmag.com/wp-content/uploads/2021/10/favicon-2-120x120.png Magazine shop – Continental Mag http://continentalmag.com/ 32 32 Personal Loans – Best Instant Personal Loan Apps in India https://continentalmag.com/personal-loans-best-instant-personal-loan-apps-in-india/ Sat, 19 Nov 2022 16:40:13 +0000 https://continentalmag.com/personal-loans-best-instant-personal-loan-apps-in-india/ Classroom oi-Ajeeta Bhatia | Posted: Saturday November 19th 2022, 10:10 PM [IST] In India, a new set of mindsets, practices and habits towards financial goals are rapidly emerging. People no longer hesitate to take out a personal loan for an emergency or to meet a short-term need, as long as there are no end-use restrictions […]]]>

Classroom

oi-Ajeeta Bhatia

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In India, a new set of mindsets, practices and habits towards financial goals are rapidly emerging. People no longer hesitate to take out a personal loan for an emergency or to meet a short-term need, as long as there are no end-use restrictions or collateral attached. Traditional banks take a long time to process these personal loan applications and lenders charge exorbitant interest rates, making the process extremely risky. Personal loan apps have emerged as a great idea in all this financial setup to provide safe and hassle-free instant cash loans in India within 1 hour. Take a look at the list of best personal loan apps.

PaySense

PaySense, one of the best instant personal loan apps in India, has an app as well as a website where salaried professionals and self-employed people can apply for instant loans. It’s one of the best instant loan apps that doesn’t require a payslip, and it recently merged with LazyPay to form one of the best platforms around. The best part is that you won’t run out of time as this platform is known for approving requests quickly.

  • Interest rate – 1.4 to 2.3% per month
  • Maximum Loan Amount – Rs. 5,00,000
  • Minimum Loan Amount – Rs. 5,000

Bajaj Finserv

Bajaj Finserv, one of the most prominent personal finance brands, has been present in the country for over a decade. Bajaj Finserv is one of the best lending apps in India offering a wide range of services. Bajaj Finserv offers personal loans which are approved and disbursed within 24 hours. Personal loans are available with the option to pay interest-only EMIs, which can reduce your monthly payments by up to 45%.

  • Interest rate – 12-34% per annum
  • Minimum loan amount: ₹30,000
  • Maximum loan amount: ₹25,000,000

Personal Loans - Best Instant Personal Loan Apps in India

Lazy Pay

LazyPay is one of the most popular financial apps in India, powered by PayU, the same company that acquired PaySense. It allows fast and secure processing of online loan applications. To determine loan eligibility, the LazyPay app only requires your mobile phone number. LazyPay disburses over a million loans each month. Its main products are low cost EMIs and instant personal loan of up to 1 lakh through a simple digital process with minimal documentation.

  • Interest rate 15- 32% per annum
  • Minimum loan amount: ₹10,000
  • Maximum loan amount: ₹1,000,000

Dhani

Dhani is one of the best personal loan apps that lets you apply for a loan anytime, from anywhere and for any reason. You can get an unsecured loan quickly without any physical documentation. Many distant students who work part-time depend on it to make ends meet. You can easily get a quick loan of up to Rs.5,00,000 at convenient and affordable interest rates. Each transaction earns you 2% cashback, which you can use for future trades and services. You can get instant loan up to 15 lakh at 12% interest rate.

  • Interest rate – 13.99% per annum
  • Maximum Loan Amount – Rs. 15,00,000
  • Minimum Loan Amount – Rs. 1,000

MoneyTap

MoneyTap is one of the easiest and fastest instant loan apps in India. It facilitates obtaining a quick loan; all you have to do is download the mobile app. Download and register, after registration complete KYC documents and wait for final approval. On the other hand, depending on your credit score, you can get instant credit of up to Rs.5,00,000 which you can use to purchase daily necessities, indulgences, travel and other items .

  • Interest rate – 13% per annum
  • Maximum Loan Amount – Rs. 5,00,000
  • Minimum Loan Amount – Rs. 3,000

Personal Loans - Best Instant Personal Loan Apps in India

BOX

CASHe has established itself as the best personal loan app. Its app makes it easy to log in and register, and the dashboard has all the information you’ll need to get a quick loan. You can choose from a range of loans with a maximum loan amount of Rs.4,00,000, as well as varying interest rates and repayment terms. You can also deposit funds directly to the associated bank account. You can also set up direct debit for loan interest payments, saving you from having to visit the platform each time. CASHe is an app-based digital lending platform that offers short-term personal loans for a variety of financial needs, but only for employees.

  • Interest rate – 2.5% per month
  • Maximum Loan Amount – Rs. 4,00,000
  • Minimum Loan Amount – Rs. 1,000

Article first published: Saturday, November 19, 2022, 10:10 p.m. [IST]

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NY Fed: Bank liquidity could be tighter than expected, with policy implications https://continentalmag.com/ny-fed-bank-liquidity-could-be-tighter-than-expected-with-policy-implications/ Fri, 18 Nov 2022 20:45:00 +0000 https://continentalmag.com/ny-fed-bank-liquidity-could-be-tighter-than-expected-with-policy-implications/ Nov 18 (Reuters) – The way the banking system manages its cash suggests the financial system may not be as bountiful as many now believe, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a document from the Federal Reserve Bank of New York announced on Friday. […]]]>

Nov 18 (Reuters) – The way the banking system manages its cash suggests the financial system may not be as bountiful as many now believe, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a document from the Federal Reserve Bank of New York announced on Friday.

Indeed, even though institutions like the Fed have flooded the banking system with reserves, many banks continue to manage rapid cash inflows and outflows as they always have, and this is tightly, the newspaper said. The authors argue that this way of managing cash positions could become a problem for the Fed as it seeks to reduce the size of its bond holdings, which reduces the level of bank reserves in the system.

Banks view their daily reserve balance levels as a “scarce resource”, the paper’s authors said, adding that “even in an era of large central bank balance sheets, rather than funding payments with reserve balances abundant, we show that outgoing payments remain very sensitive to incoming flows.

“There is always potential for strategic hoarding when reserve balances get low enough,” the researchers wrote.

“As central banks around the world respond to inflation by tightening monetary policy and shrinking their balance sheets, the potential implications for the wholesale payments system of continued depletion of reserves by central banks will likely be a contributing factor. important to policy-making,” the paper said.

The paper, written by economists from the New York Fed, the Bank for International Settlements and Stanford University, comes as the Fed has reduced the size of its massive balance sheet as part of its broader effort to tighten monetary policy to bring down the highest levels of inflation seen in 40 years.

Most of this effort is based on rate hikes. But the contraction of its balance sheet, which peaked at $9 trillion from $4.2 trillion in March 2020 when the coronavirus pandemic hit, is also key to this campaign. The Fed’s holdings now stand at $8.6 trillion.

Fed officials are confident that the effort to cut $95 billion per month in Treasuries and mortgage bonds per month, known as quantitative tightening, should go smoothly, largely because banks still have a lot more liquidity than they need.

Some point to more than $2 trillion a day from financial firms parking with the Fed via reverse repurchase agreements as evidence of this excess liquidity, which the Fed should be able to withdraw painlessly. Meanwhile, bank reserves stand at $3.18 trillion, down about $1 trillion from a year ago.

RATE CONTROL REGIME

Reserve levels affect the Fed’s ability to conduct monetary policy. When reserves are scarce, competition for them can introduce high levels of volatility into short-term market-based rates and drive them away from central bank target levels.

A shortage of reserves in September 2019 caused the Fed to intervene by borrowing and buying Treasuries to add reserves to the system to ensure that its federal funds rate target remains at desired levels, ending its first quantitative tightening effort.

The Fed has expressed confidence that it can dip into its reserves in a way that will not affect its interest rate target. The paper suggests that the way banks manage liquidity, even in times of abundant liquidity, could challenge this view.

And while the paper doesn’t say what that means for balance sheet policy, some private-sector forecasters are already speculating that the Fed could be forced to slow or stop shrinking its balance sheet next year due to an earlier than expected tightening of bank reserve levels. .

One of the reasons to expect the Fed to more easily manage any sort of intermittent reserve shortage is the existence of its so-called permanent repo facility, which allows eligible banks to quickly convert bonds from the Treasury in short-term cash loans. Some want this tool expanded, arguing that it would reduce the risk that the Fed will need to intervene in the event of market turbulence.

Reporting by Michael S. Derby; Editing by Dan Burns

Our standards: The Thomson Reuters Trust Principles.

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5 quick ways to boost your retirement savings https://continentalmag.com/5-quick-ways-to-boost-your-retirement-savings/ Sat, 12 Nov 2022 17:01:09 +0000 https://continentalmag.com/5-quick-ways-to-boost-your-retirement-savings/ Subscribe: Apple podcast | Google Podcasts | Spotify | Amazon Music | RadioPublic | embroiderer | RSS Let’s start with a question: do you have enough in your retirement account? According to a recent report by Avant-garde, the average American has about $140,000 saved for retirement. For people aged 65 and over, this average balance […]]]>

Subscribe: Apple podcast | Google Podcasts | Spotify | Amazon Music | RadioPublic | embroiderer | RSS

Let’s start with a question: do you have enough in your retirement account? According to a recent report by Avant-garde, the average American has about $140,000 saved for retirement. For people aged 65 and over, this average balance is about double, or $280,000.

Sounds like a lot, right? But for many people, even with Social Security, that won’t be enough.

If that’s you, let’s fix it. In this podcast, we help you create a plan to boost that retirement savings.

As usual, the host Stacy Johnson is joined by the financial journalist Miranda Marquet. Listening and sometimes contributing is productive Aaron Freeman. This week’s guest is friend of the show, Joe Saul-Sehy from Stack Benjamins.

Remember that even though we sometimes talk about specific money and investments, never take them as recommendations. Before investing in anything or making other money moves, do your own research and make your own decisions.

You can watch this episode below, or if you prefer to listen, you can do so with the player at the top of this article or download the episode wherever you get your podcasts:

do not forget to check out our podcast page for more episodes designed to help you get the most for your money and our YouTube page for more videos.

Are you ready for retirement?

The Employee Benefits Research Institute points out that 7 out of 10 workers are convinced that they can retire comfortably. On this show, we talk about the potential disconnect between what you think is enough and what is actually enough. Here are some articles that may help you.

How to Create a Retirement Plan That’s Right for You

Stacy mentions her book “Life or debtas a good starting point to help you figure out what you want out of life and how to prioritize it. Joe and Miranda also have great ideas for creating a retirement plan you’ll stick to. We also mention our podcast on paying off your mortgage aggressively in order to have more money available in retirement.

Let’s take a look at some great Money Talks News resources on planning for retirement.

Meet this week’s guest, Joe Saul-Sehy

Joe Saul-Sehy/Money Talks News

Joe is a former financial advisor (16 years old) and has represented American Express and Ameriprise Financial in the media. He was the “Money Man” of Detroit television station WXYZ-TV, appearing on the air twice a week. He has appeared in Bride, Best Life, and Child magazines, as well as the Los Angeles Times, Chicago Sun-Times, Detroit News, and Baltimore Sun newspapers. It has also appeared online in over 200 different places, including CNBC.com and WSJ.com.

Don’t listen to podcasts?

A podcast is basically a radio show that you can listen to anywhere and anytime, either by downloading it to your smartphone or listening to it online. They’re great for learning and entertaining while you’re in the car, doing chores, jogging, or riding your bike.

You can listen to our latest podcasts here or download them to your phone from anywhere including Apple, Spotify, RadioPublic, embroiderer and RSS.

If you haven’t listened to our podcast yet, give it a try and subscribe. You’ll be glad you did!

About Hosts

Stacy Johnson founded Money Talks News in 1991. He is a CPA and he has also been licensed in stocks, commodities, principal options, mutual funds, life insurance, securities supervisor securities and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She has covered personal finance and investment topics for nearly 20 years. When she’s not writing and podcasting, she enjoys travel, reading, and the outdoors.

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Coinbase says there is no risk of running out of money https://continentalmag.com/coinbase-says-there-is-no-risk-of-running-out-of-money/ Wed, 09 Nov 2022 15:36:25 +0000 https://continentalmag.com/coinbase-says-there-is-no-risk-of-running-out-of-money/ Coinbase (PIECE OF MONEY) – Get a free report wants to take the lead. The most popular platform for trading cryptocurrencies and other digital assets in the United States wants to be proactive and not let speculation dominate its news. After the unexpected debacle of FTX.com, one of its big rivals, Coinbase wants to reassure […]]]>

Coinbase (PIECE OF MONEY) – Get a free report wants to take the lead.

The most popular platform for trading cryptocurrencies and other digital assets in the United States wants to be proactive and not let speculation dominate its news.

After the unexpected debacle of FTX.com, one of its big rivals, Coinbase wants to reassure investors. The company says it’s not about to run out of cash.

FTX.com and Binance announcement on November 8 that the second would redeem the first who is facing a liquidity bite. The transaction was carried out in a hurry since Binance specifies that its finalization is awaiting the conduct of due diligence. Basically, both companies moved quickly to try to avoid chaos and a general panic.

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Opendoor and Carvana feel free money hangover https://continentalmag.com/opendoor-and-carvana-feel-free-money-hangover/ Fri, 04 Nov 2022 22:26:00 +0000 https://continentalmag.com/opendoor-and-carvana-feel-free-money-hangover/ Comment this story Comment With the price of used homes and cars now plummeting as rapidly as they skyrocketed, would-be digital disruptors like Opendoor Technologies Inc. and Carvana Co. have been humbled. Investors had swung these platforms to become the “Amazon of homes” and “the Amazon of used cars” respectively due to a shared ambition […]]]>

Comment

With the price of used homes and cars now plummeting as rapidly as they skyrocketed, would-be digital disruptors like Opendoor Technologies Inc. and Carvana Co. have been humbled.

Investors had swung these platforms to become the “Amazon of homes” and “the Amazon of used cars” respectively due to a shared ambition to improve an often lousy sales experience, and to buy and to sell expensive items on a large scale.

But flipping homes and cars in a bubble was mounting trouble: Together, the two companies reported combined losses of $1.4 billion on Thursday as rising interest rates pushed customers out, leaving them sitting on rapidly depreciating stocks. Since the peak, their stocks have crashed more than 90% and their bonds are trading at distressed levels.

Although Opendoor’s losses have been greater, I believe it is in a better position to weather what CEO Eric Wu has called a “crucible moment,” thanks in part to a strategic pivot to a method of selling at less capital-intensive domicile. On the other hand, the weakness of the balance sheet of Carvana remains worrying.

These two companies were the main beneficiaries of the era of cheap money – low interest rates provided cheap capital to grow rapidly, while helping customers afford ever-increasing assets. more expensive – but they were too slow to recognize that a storm was brewing. Just like the hedge funds that backed them.

In February, Carvana announced a $2.2 billion buyout of ADESA Inc.’s US auction business, adding to its indebtedness at the wrong time. Investors backed down, forcing it to agree to pay more than 10% interest on $3.3 billion in new borrowing in April, a burden that jeopardizes its battle to break even.

Meanwhile, Opendoor bought more than 14,000 homes between April and June, paying the highest prices in the market. While it is now trying to offload those homes fairly quickly, the damage is done: On Thursday, it announced a $573 million write-down for anticipated losses. Worryingly, the majority of these high-priced homes still remain on its books.

At least Opendoor seems to have recognized that its core business model is too risky in such a volatile environment. While it continues to buy homes (albeit at a slower pace and at much more conservative prices), the company plans to further facilitate home sales, including to institutional buyers.

Instead of putting capital at risk, he will now also bring buyer and seller together on his platform and earn a commission. These third-party sales are inherently higher margin and he hopes they will account for more than 30% of transactions by the end of next year.

Adjusted earnings will likely deteriorate before they improve, but Opendoor’s strategic pivot at least gives investors reason for hope. Plus, he has a decent $1.3 billion buffer of unrestricted cash to tide him over. “Companies without conviction, perseverance and capital will not be able to weather the storm,” Wu warned.

Was he talking about Carvana? The used-car dealership claims to have moved from a “grow as fast as possible to profitable as fast as possible” approach, but that’s easier said than done. Like Opendoor, it cuts jobs and marketing costs, but after expanding too quickly, it has too much car refurbishing capacity.

Earnings per vehicle sold were impacted by rising interest rates (Carvana was heavily dependent in the past on the sale of loans), while cash fell to $316 million. While the company boasted $4.4 billion in total cash, nearly half is in real estate that it could monetize through sale and leaseback transactions.

On the investors’ call, management insisted this put them “in a good position to weather this storm”, but analysts questioned whether the company would need a dilutive capital raise. At this rate, it is possible.

Aiming to improve the experience of selling homes and cars was admirable, and these two companies had to deal with incredibly volatile conditions: first a pandemic, then the fastest rise in interest rates in decades. . But when historians come to write the history of the easy money era, the hubris of Amazon copycats will surely deserve a few words.

More from Bloomberg Opinion:

• Apollo digs Carvana out of a giant used car hole: Chris Bryant

• Fed slowdown not getting much help from Big Tech: Conor Sen

• Is Opendoor the Amazon of homes or just another Carvana? : Chris Bryant

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

More stories like this are available at bloomberg.com/opinion

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I applied for a $1,000 loan. Here is what happened. https://continentalmag.com/i-applied-for-a-1000-loan-here-is-what-happened/ Tue, 01 Nov 2022 22:01:38 +0000 https://continentalmag.com/i-applied-for-a-1000-loan-here-is-what-happened/ Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR. When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan. They say you can borrow between $100 and $15,000 and […]]]>

Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR.

When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan.

They say you can borrow between $100 and $15,000 and have the money in your account by tomorrow, even if you have bad credit.

But are they legit or just another scam?

Keep reading to find out what happened when I tried ZippyLoan and if you should ask them for a loan too.

What is ZippyLoan?

If you’ve searched online for a personal or payday loan company, you’ve probably heard of ZippyLoan.

This is a free, no-obligation service that helps connect you with potential lenders.

If you’re looking for quick access to a personal loan through a simple, secure, and transparent process, ZippyLoan may be able to help.

Its website states that borrowers can avail unsecured personal loans with just proof of identity and a regular source of income.

Whether you need a loan for personal or family use, like making a major purchase, renovating your home, consolidating debt, or just covering an unexpected expense, ZippyLoan can help.

How ZippyLoan Works

FinanceProject

When you use ZippyLoan, you are not borrowing directly from the company.

They are not lenders and are not involved in the loan approval process.

Instead, ZippyLoan helps connect you with potential lenders who can lend you the money you need.

Here is an overview of how ZippyLoan works.

  1. The first step is to complete an online form. ZippyLoan says it takes less than 5 minutes. You can fill out this form on a desktop or mobile device 24 hours a day, 7 days a week, so there are no queues or waiting.
  2. The second step is that ZippyLoan tries to put you in touch with a lender who will make you a non-binding offer. It shares your information with lenders on its platform to see who may be able to help you. If you receive an offer and are satisfied with the terms of the loan, you can sign a loan agreement online on the spot and have your money deposited in your bank account the next working day.
  3. The third and final step is to repay your loan. If you take out a payday loan, you can pay on your next pay date. You can also opt for a personal loan that offers monthly repayment for up to 60 months.

To apply for a loan from ZippyLoan lenders, all you need is proof of identity and a regular source of income.

There is no minimum credit score, so you may be able to get approved for a loan regardless of your credit history.

This makes ZippyLoan one of the best places to apply for a personal loan if you have a low credit score.

Is it safe to use the ZippyLoan website?

Plugging your personal information into a website can be daunting, but ZippyLoan is safe and secure.

They are members of the Online Lenders Alliance (OLA) and are committed to high standards of conduct. If you have any problems, you can call the OLA Consumer Helpline (1-866-299-7585) for assistance.

ZippyLoan OLA.png

FinanceProject

Credit checks?

As ZippyLoan is not a lender, it does not perform credit checks, so your credit score will not be affected.

If you accept an offer, the lender will tell you whether they will do a soft or hard credit check before electronically signing your agreement.

Is it easy to use?

ZippyLoan’s online form is fully optimized for mobile devices, so you can apply for a personal loan wherever you are.

The form takes less than 5 minutes to complete and you should start receiving offers from lenders immediately.

Quick approvals?

One of the best features of ZippyLoan is that everything is done online so you can get approved quickly.

If a lender makes you an offer that suits you, you can sign the agreement online and receive your money the next business day.

Rates and Fees

Network lenders offer between $100 and $15,000 and are flexible on rates and fees.

The exact terms you are offered will depend on your personal circumstances and credit history, but here are some representative examples:

  • Short-term or payday loans are usually due in full in 14 days and cost between $10 and $30 per $100 borrowed.
  • Personal loans can be repaid over 6 to 60 months and have an annual rate (APR) of between 7.04% and 35.89%.

To give a fair review of ZippyLoan, I also wanted to give my opinion on some of the downsides of using the website.

Disadvantages of ZippyLoan?

Unfortunately, ZippyLoan is not available to residents of New York, District of Columbia, Oregon, or West Virginia.

And because it’s not a direct lender, it makes no promises that you’ll be approved or qualify for a certain rate on your loan.

Another thing to remember is that ZippyLoan won’t do a credit check when you fill out their form, but all the lenders you work with will.

Most lenders will do a credit check through one of the big three credit bureaus, Experian, Equifax or TransUnion.

This type of check can show up on your credit report and can worsen your score, so be sure to check with lenders before applying.

My experience with ZippyLoan

When my car broke down and needed repairs, I had to borrow $1,000 and asked ZippyLoan for help.

Here’s how it went.

  • The application process was very simple and it took me less than 5 minutes to enter all my information.
  • Within minutes I had loan offers from lenders ready to lend me. The terms of the loans were all written down and I could see what credit checks they wanted to do before I accepted the loan.
  • I decided to choose a lender who offered me a 14 day loan with a fee of $15 per $100. This meant I could borrow $1,000 for two weeks and had to pay back $1,150, which I thought was reasonable.
  • After accepting the offer, I had the $1,000 in my account the next day.

I found the whole process very easy and was able to get the money I needed quickly, and will use them again if I ever needed emergency money.

If you’re looking for a quick loan to get you out of trouble and you’re sure you can pay it back, then I 100% recommend ZippyLoan.

Click here to visit the ZippyLoan website and request the money you need today.

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$100 Instant Loan Apps: No Credit Check Required https://continentalmag.com/100-instant-loan-apps-no-credit-check-required/ Fri, 28 Oct 2022 22:03:38 +0000 https://continentalmag.com/100-instant-loan-apps-no-credit-check-required/ RapidEye/Getty Images There are times when you need a small amount of money to cover a bank overdraft or an unexpected expense. However, applying for a loan to borrow a few dollars is usually not worth it. Luckily, an instant $100 loan application can help you cover a smart shortfall right away. The following instant […]]]>

RapidEye/Getty Images

There are times when you need a small amount of money to cover a bank overdraft or an unexpected expense. However, applying for a loan to borrow a few dollars is usually not worth it. Luckily, an instant $100 loan application can help you cover a smart shortfall right away. The following instant $100 loan application options are best when you need a cash advance.

7 instant loan apps that don’t check your credit

Here are seven apps that will lend you $100 fast — and won’t check your credit first.

1. Win

The Earnings app is one of the cheapest ways to borrow up to $100 a day. Unlike many other cash advance apps, there are no subscription fees or hidden charges. Instead, Earnin asks you to send a tip that you deem fair in appreciation of the loan.

To borrow with Earnin, you will need to show that you are receiving a paycheck. As mentioned, you can borrow up to $100 per day of your income. One of Earnin’s best points is its user-friendliness. There are no credit checks and no hidden fees. In addition, an interest-free period makes it possible to borrow money at low cost. Earnin will keep a tally of what you borrowed and withdraw the funds to repay the loan on your next paycheck.

2.David

David is an excellent banking alternative. You can manage all your banking needs using the app and a linked debit card. And if you regularly need a quick cash boost, having an account with Dave could be a lifesaver. You can borrow up to $500 in ExtraCash, interest-free. All you need is to have direct deposit installation.

There is a $1 monthly membership fee when banking with Dave. However, there are no other fees, such as monthly maintenance, minimum balance, overdraft or ATM fees. Plus, receiving your paycheck as a direct deposit means you could get paid up to two days earlier than expected. If you’re wondering if opening an account with Dave is worth it, the fact that you can borrow up to $500 quickly without interest or fees could be a big selling point.

3. Bridget

Brigitte can give you a cash advance with no credit check or fees up to $250. There’s a $9.99 monthly membership fee to borrow from Brigit, but it might be worth it if you tend to ask for cash advances often.

Brigit also offers ways to build your credit, such as a 12 or 24 month loan. When you borrow, the Brigit app will deposit the amount into a Credit Builder deposit account. You will need to choose a monthly repayment amount between $1 and $24 for a 12 month loan and between $1 and $50 for a 24 month loan. Brigit will report your payment history to the credit bureaus, helping you boost your credit score when you repay your loan on time.

4. Payactiv

payactiv is one of the greatest payday advance services available. More than 1,500 employers including walmart and Uber offer employees access to Payactiv. Each employer will determine the amount they will allow an employee to borrow against their earned wages. However, even if you don’t work for a participating employer, you can still use Payactiv as a banking alternative.

When you borrow against your future paycheque, the funds can be deposited into a Bank account or card to use for whatever you need. The money you borrowed as a cash advance will be deducted from your next paycheque.

5. Chime

Carillon is a financial alternative for anyone who cannot or does not want to open a current account in a traditional bank. After applying for a Chime account, you will receive two accounts: a spending account for paying bills, which is similar to a checking account, and a backup account.

All financial tasks are performed through the Chime app. When using Chime, you may receive a push notification prompting you to get a Chime instant loan. Chime loans start at $100, depending on the amount of direct deposits you receive and your activity.

Chime loans must be repaid in three monthly installments. When you take out a Chime instant loan, you pay a fee of $5 per $100. Once you have repaid a loan, you can receive another loan offer as a notification through the app. Overtime, Carillon may offer you a higher loan amount.

6. Silver Lion

MoneyLion offers interest-free, credit-check-free cash advances up to $250. Best of all, funds are available within minutes. The main eligibility requirements for getting a MoneyLion loan include having a current account open for at least two months and steady banking activity with regular deposits.

When you need to borrow more, MoneyLion offers Credit Builder Plus Loans up to $1,000. To access larger loans from Credit Builder, you will need to pay a monthly subscription fee of $19.99 per month. Credit Builder Loans must be repaid over 12 months. Your lending activity and payments will be reported to the credit bureaus to help you establish your credit.

7.Albert

You can borrow up to $250 for free when you are in need from Albert. There’s no late fee or interest charged when you borrow money. To qualify, you will need to receive a regular paycheck. The funds you need are borrowed from your next paycheck.

Albert charges a small fee if you need the cash advance immediately. Or you can wait two to three days to receive the funds for free. As long as you continue to repay your Albert cash advances, you are entitled to up to three cash advances per pay period.

Carry

Life happens, and sometimes you need a quick push to handle things. cash advance apps allows you to quickly borrow the funds you need. The instant $100 loan apps reviewed here are some of the best. Most don’t run a credit check and charge little to no fees, so you can make ends meet quickly.

FAQs

  • Which app can I borrow $100 from?

  • Which apps lend you money instantly?

    • If you’re looking for a small amount of cash, there are instant $100 loan apps like Brigit, Dave, and Earnin to borrow money quickly. Even better, you can continue to borrow money instantly as long as you repay your loan.

  • Which app will lend me $20?

Editorial note: This content is not provided by any entity covered by this article. Any opinions, analyses, criticisms, evaluations, or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed, or otherwise endorsed by any entity named in this article.

Chime is a fintech company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, NA; FDIC members.

This article originally appeared on GOBankingRates.com: $100 Instant Loan Apps: No Credit Check Required

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Payday loans soar 55% as cost of living crisis hits https://continentalmag.com/payday-loans-soar-55-as-cost-of-living-crisis-hits/ Wed, 26 Oct 2022 11:50:00 +0000 https://continentalmag.com/payday-loans-soar-55-as-cost-of-living-crisis-hits/ Although he may seems the popularity of payday loans is in decline, in fact, they are still in high demand – just cleverly disguised. Instead, short-term, high-interest loans have taken their place, with more and more people turning to such programs to pay their bills as the cost of living continues to rise. In fact, […]]]>

Although he may seems the popularity of payday loans is in decline, in fact, they are still in high demand – just cleverly disguised.

Instead, short-term, high-interest loans have taken their place, with more and more people turning to such programs to pay their bills as the cost of living continues to rise.

In fact, the percentage of customers receiving such a loan rose to just under 6% in July, an increase of 55% on average between April and June of this year. exclusive data from Equifax shows.

Consumer expert Martyn James said: “Payday loans are still popular, but they’ve reinvented themselves in a completely different way.

“These new short-term loans give the impression that they are different, but all that has changed is the time you can take out a loan for has been extended and the amount of interest you pay has been reduced slightly.

Although interest rates may not be in the thousands like they once were, a quick search of payday loans on the internet reveals that they are still incredibly high.

There are a host of companies available, offering up to tens of thousands of pounds instantly, with many also suggesting it doesn’t matter if applicants have bad credit.

One of the first results reveals a website claiming “we’re not cheap but we’re fast” – offering quick loans with a massive interest rate of 611.7% APR.

Another announced rates of 939.5% APR, warning that late repayments “can cause serious money problems”.

This may be a reflection of what payday loans have become.

More Invoices

Traditionally they were used, it seems, to help people get to their next payday if they ran out of funds. They tended to be only for a small amount which should be paid back within the next couple of months.

However, over time payday loans have become the more generally used name for short-term, high-interest loans lasting up to a few years and worth tens of thousands of pounds.

The FCA intervened in 2014 to protect borrowers against excessive fees in this marketcapping the maximum interest rate lenders can charge and ensuring that no one repays more in fees and interest than the amount borrowed.

Shortly after the fall of Wonga, which marked the beginning of the end of payday loans as we know themwith its collapse in 2018 leaving around 200,000 customers still owing over £400m.

The lender had become the face of exorbitant interest rates, at one point charging an extraordinary rate of 5,853%.

After his passing, many realized the dangers of payday loans, but it didn’t take long for others to take their place.

Although FCA data shows that there has been a decrease in the amount lent to consumers through these types of loans – mainly due to the reduction in the number of lenders – this only concerns regulated companies.

Between July and August 2016, 106 companies lent £300.2m, according to FCA data, but that figure fell to £64.4m from just 38 companies between April and June this year.

However, many others, which are unregulated, are flooding the market, with some charging consumers exorbitant interest.

James says, “New loan companies don’t want to be associated with payday loans. Although they are regulated, they are for all intents and purposes the same thing.

As a result, those who take out these loans should be careful not to take on more debt, experts warn.

An FCA spokesperson said: “Many consumers are feeling the impact of the rising cost of living on their personal finances and we expect this to increase over the coming months. This may lead to increased of the credit application.

“Companies should only lend to people who have the means to repay and who need to support borrowers in financial difficulty by offering them tailor-made support, specific to their situation. We have reminded them of this and will continue to scrutinize lenders.

It is naturally tempting to take out a short-term loan for some who think they need to borrow money for a short time.

Many companies are adamant that the app won’t impact your credit score or that they’re not just for people on benefits – wrapping up the deal as an easy and affordable option for those who need with a quick injection of cash.

However, these promises often hide exorbitant interest rates.

James doesn’t blame the public for going for these loans because he says they are, essentially, disguised as responsible loans.

“The public thinks he’s sane – and believes he’s getting a ‘proper loan’ like people used to from the bank. Instead, what they get is a variant of the worst kind of loan.

While there really isn’t a “right way” to borrow money, there are ways people can minimize their risk while doing so.

This includes borrowing from regulated institutions and constantly checking the interest rate you will be charged.

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In a pinch? Here are the four loans you can get the fastest https://continentalmag.com/in-a-pinch-here-are-the-four-loans-you-can-get-the-fastest/ Sun, 23 Oct 2022 14:30:49 +0000 https://continentalmag.com/in-a-pinch-here-are-the-four-loans-you-can-get-the-fastest/ Image source: Getty Images When you’re in a bind and need cash fast, it’s important to know what your options are. There are different types of loans that you can get relatively quickly, depending on your needs. Before taking out a personal loan, it’s important to understand the different types of personal loans and find […]]]>

Image source: Getty Images

When you’re in a bind and need cash fast, it’s important to know what your options are. There are different types of loans that you can get relatively quickly, depending on your needs. Before taking out a personal loan, it’s important to understand the different types of personal loans and find the one that’s right for you. Here are four of the most common.

1. Credit cards

If you have good credit, you may be able to get a cash advance on your credit card. This is usually a quick and easy process, but it will come with high interest rates. So if you are able to repay the loan quickly, this could be a good option. Cash advances can be very useful in an emergency situation when you need money immediately.

Discover: These personal loans are the best for debt consolidation

More: Prequalify for a personal loan without affecting your credit score

Another advantage of using a credit card for a cash advance is that you may already have money available on your line of credit that you can use. This can be useful if you don’t want to take out a new loan or use other assets as collateral. However, using a credit card for a cash advance also has some drawbacks. First, as mentioned earlier, interest rates on cash advances are usually very high. This means that if you don’t repay the loan quickly, you could end up paying a lot of interest. Also, most credit cards have limits on how much you can borrow as a loan. So if you need a large sum of money, this might not be the best option.

2. Payday Loans

Payday loans are one of the fastest ways to get cash, but they come with high interest rates and fees. They’re usually only for small amounts of money, so if you need a lot of cash quickly, they’re probably not the best option. However, if you just need a little extra money to last you until your next paycheck, a payday loan might work. Payday loans are not ideal, Nevertheless. These are short-term, high-interest loans, usually due by your next payday in a single amount. Currently, 37 states regulate payday loans due to their high costs.

Payday loans are usually for $500 or less and are due on your next payday. Depending on state laws, people can get payday loans online or through a storefront lender. A typical two-week payday loan can have annual percentage rates (APR) as high as 400%. By comparison, credit card APRs can range from 12% to 30%. Payday loans should be considered an option of last resort.

3. Pawnbroker

Pawnbrokers are short-term loans secured by an object of value that people bring to a pawnbroker. As they are backed by the value of the object, they are cheaper than payday loans but are more expensive than a conventional loan. Pawnbrokers are regulated by the government. This type of loan is ideal for people who need cash quickly without a credit check.

Loan terms vary by pawnbroker. People can use valuables, such as jewelry or electronics, to get a loan based on the value of the item. No credit check is required. Those who may not qualify for a traditional loan can consider a pawnbroker. Once the loan amount is paid off, you will receive your items. If you don’t pay it back, the pawnbroker can seize the secured items.

4. Securities Lending

Title loans are another quick way to get cash. They are short lived secured personal loans supported by your car. Financial institutions put a lien on your car. If you are unable to repay the loan, they can seize your car, as it is used as collateral. Title loans generally do not consider your credit and can be approved quickly. However, a title loan is very expensive, with an APR of around 300%.

These are four of the most common types of loans that you can get relatively quickly. Consider which one best suits your needs and compare interest rates and fees before you apply. Understand how these personal loans work can help you make a smarter decision.

The Ascent’s Best Personal Loans for 2022

Our team of independent experts have pored over the fine print to find the select personal loans that offer competitive rates and low fees. Start by reviewing The Ascent’s best personal loans for 2022.

We are firm believers in the Golden Rule, which is why editorial opinions are our own and have not been previously reviewed, approved or endorsed by the advertisers included. The Ascent does not cover all offers on the market. The editorial content of The Ascent is separate from the editorial content of The Motley Fool and is created by a different team of analysts. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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What to know about capital investment planning https://continentalmag.com/what-to-know-about-capital-investment-planning/ Thu, 20 Oct 2022 04:46:13 +0000 https://continentalmag.com/what-to-know-about-capital-investment-planning/ Capital investment planning was the focus of the “Assessing Your Buying Power in Today’s Economic Environment” workshop, led by Craig Colling, Vice President of Sales at Ascentium Capital. His presentation, held at the Future State Theater (booth C11330) yesterday, outlined the financial options available in today’s market as well as what is happening and what […]]]>

Capital investment planning was the focus of the “Assessing Your Buying Power in Today’s Economic Environment” workshop, led by Craig Colling, Vice President of Sales at Ascentium Capital. His presentation, held at the Future State Theater (booth C11330) yesterday, outlined the financial options available in today’s market as well as what is happening and what to expect.

Colling pointed out that every business is in a different place. Add to that a period of recession and an inflationary environment, and the buying path becomes more complicated. There are options, although each brings its own set of advantages and disadvantages.

  • Money: It’s quick and easy, with no paperwork and no interest. However, this impacts liquidity, depletes the impact of cash reserves on the balance sheet, and leaves a business vulnerable to the unexpected.
  • Credit cards: Credit cards are also fast. They also have promotional offers, such as 0% interest rates. On the other hand, credit cards may impact the ability to borrow more and there is a risk of conversion to high interest charges at the end of the promotion. The biggest issue here, Colling said, is credit card fees for the merchant. “So everyone here [at The Expo] who you may be considering purchasing equipment from, if they take your American Express or Visa, they must incur a 2% to 5% merchant fee,” he pointed out, adding that these fees can be passed on to the customer.
  • Traditional Bank Loans/SBA Loans/Line of Credit: These offer a low rate/cost of borrowing and affordable monthly payments. However, obtaining them can take time and lead to potential restrictions.
  • Equipment rental: return to
    In December 2019, the federal government revised tax laws that affect such leases, Colling said. But this method of financing preserves cash and there is usually no down payment or compensatory balancing. It also means that the company does not own the equipment. For long-term ownership, Colling recommended choosing the $1 buyout lease.

“As you negotiate, unless you’re a CPA by trade or a lawyer by trade, whatever term sheet or contract you receive, ask your tax advisor to review it,” Colling pointed out. “Make sure it’s what you think you’ve agreed to. It’s well worth an extra day of your life to make sure you understand what you’re getting into.

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