What do You Know about Instant Payday Loans Online?

If you would like to get an instant payday loan online, it is recommended to check how well you understand the principle of work of this short-term loan. In case you want to take a suspended decision, there is a quiz, which has been developed with the aim to help you to realize, which points about payday loans online are still unclear for you. Answer the questions below without using any hints from articles about payday loans online. Are you ready for quiz? Let’s go!

1. Payday loan is offered for several months.
   • True
   • False
2. Payday advance and payday loan are the synonyms.
   • True
   • False
3. You can apply for an amount of money over 2000$
   • True
   • False
4. Much paperwork is involved in getting payday loans online.
   • True
   • False
5. You can apply for online payday loans from any mobile device with Internet access
   • True
   • False
6. Payday loans online have appeared with the aim to provide people who are in trouble with instant money till their payday
   • True
   • False
7. There are many differences among traditional bank loans and online payday advance
   • True
   • False
8. The repayment of payday loans take place without going out anywhere as the lender is able to withdraw money directly from the borrower’s banking account
   • True
   • False
9. You should pay money back in 1-2 weeks on the day when you get your next salary
   • True
   • False
10. You can expect to get payday loan within one working day with the exception of official holidays
    • True
    • False
11. Borrower of any age can be approved for a payday loan online
    • True
    • False
12. If you are a citizen of the state you apply for a loan in you have a guarantee that you will be approved for the amount you need
    • True
    • False
13. In case you don’t have a banking account, you won’t be able to receive instant cash
    • True
    • False
14. Pensioners can’t be eligible for payday loans online as only employed people may have the right to enjoy payday advance benefits
    • True
    • False
15. In case of non-repayment, you will be charged extra fees
    • True
    • False
16. If you have bad credit rating, you won’t have chances to get a payday loan online
    • True
    • False
17. Payday loans online may harm your credit rating, especially if it is already bad
    • True
    • False
18. Get payday loans online only if you face an emergency situation, which requires instant reaction
    • True
    • False
19. Interest rates of payday loans are higher than loans from banks have
    • True
    • False
20. Payday loan lenders ask for collateral
    • True
    • False

Check the quiz answers here:

1. b ( it is a short-term loan) 2.a, 3.b (up to 1000$). 4. b (no paperwork),5.a, 6.a,7.a, 8.a, 9.a,10.a, 11. b(18 year-old),12.b( not a guarantee as this is not the only requirement), 13. a,14.b(pensioners can get loans),15.a,16.b( bad credit is ok),17.b (payday loans may improve, not harm credit score), 18.a, 19.a, 20. b (no collateral).

If you have more correct answers, then you are well-informed and can benefit from payday loans online without any risks. In case you have difficulties answering some questions, it is recommended to learn more about how payday loans work so that you make the right choice.

Read more:

• What do You Know about Instant Payday Loans Online?
• Best payday loans for those who are looking for the responsible lender
• Benefits bad credit borrowers may enjoy regardless their poor credit