Sometimes we find ourselves in a pinch and need access to some fast cash. If family or friends can’t help us out, then it’s best to rely on a loan. Banks often turn down loans unless absolute necessity or if they have verified income. At times, if you’re working gig jobs, are unsure about future employment, or just don’t want to give personal information, then using a loan company service can help.
The whole process with Maxlend is that you can apply and get a loan within a few days. Their entire process is simplistic and hassle-free. Plus, they can either be contacted through their phone or website.
If you’re on the fence of whether or not you should use Maxlend or not, then we’ve got you covered. We’ve taken the time to research all of Maxlend’s services. We’ll give you a detailed breakdown of their lending amount, different interest rates, and how you can apply them.
Payday loans are exactly what they sound like. They can be repaid back at your next paycheck. These types come with a high-interest rate but are useful for people who need quick cash.
Maxlend offers up to $2,500 on their payday loans. Although, the company urges its clients not to borrow more than they can pay off. You may also request less money to borrow in the first place. Their minimum being $600
Maxlend offers short term installment loans. They provide multiple payment plans with set interest rates.
These are often referred to as payday loans, as you can slowly pay off the debt. Plus, they don’t have collateral, and the APR rates are often lower than payday loans.
Advanced loans are short-term advances that are quick for approval. These are popular amongst those needing fast cash for bills or other essentials. They have a high APR rate but can be paid back within 1-2 installments. Plus, they are often relatively small and won’t build up interest.
Cash loans are good for last-minute expenses. They are short-term installment loans that come with a fixed APR rate. The length of repayment is often stated beforehand and can range from a few months to a few years.
This is useful for those who don’t know if they will pay a large sum of money off on their next paycheck. However, the interest does add up over longer repayment times.
The last type that Maxlend offers is personal loans. They can range from smaller amounts, such as $50 to even $50,000. The amount borrowed is determined by what you’re using it for.
Larger amounts are good for student loans, mortgages, or auto loans. The downside is that they often come with high-interest rates and extended repayment lengths. However, if you miss one or two payments, they can affect your credit.
What’s the Borrowing Process Like At Maxlend?
Borrowing from Maxlend is relatively easy. All you’ll need to do is fill out and apply for a quick and secure loan. You just need to fit their minimum loan application requirements – which are similar to any other loan company.
After filling out an online application, you’ll be able to eSign your documents right away. It may take a bit for a customer service representative to call you back, but it’s usually less than 24 hours.
They will confirm your details, and you’ll then be sent a copy of your application via email. After that, all you’ll need to do is wait until everything is in order. Maxlend will then deposit the money into your bank account.
Maxlend Maximum Loan Borrow
It depends on what type of loan you sign up for. Maxlend is adamant about not having borrowers lend more than they need. This is because some of the loans go pretty high.
That being said, for personal loans, you’re looking at a maximum of $2,500 for instant cash. This can help you through a tough time or from missing a bill. Just know the APR rate will be much higher than before.
However, if you’re trying to get a large loan for refinancing, mortgage, etc., then the number can go up to $50,000. This is good for one time projects that need a large sum of money.
Just beware that the APR rates are going to be high on these loans. They are only worth it if you have a stable income. If you can’t even make one of the payments, you will see drastically how easy it is to stay in debt.