Amara walker August 16, 2022

One cannot predict life events. Imagine your salary is due in 10 days, and you need urgent money to pay for medications. It becomes nearly impossible to meet extra expenses in situations where people live from paycheck to paycheck. However, you can't either avoid it.

Instant Money loans in Ireland eliminate every hassle of packing at the last moment. Moreover, it comes with benefits that traditional loans lack. The primary motive of these loans is to cover the essential costs regardless of the credit markings.

For example,

If you have a leaking roof and you are expecting guests anytime. At the same time, you check your purse only to find it cashless. How will you fund the roof repair expense immediately? Here, you may get the money in the account within 15 minutes of the application by taking instant money loans online. You can use the same amount to get the roof fixed and ensure the most welcoming experience for your guests without obsessively bothering about the leaking roof.

Isn’t it Soothing?

Yes, quick cash loans prove a life saviour in a situation like this.

What do Instant money loans imply? 

Instant loans ensure immediate access to funds to meet unthinkable expenses- like medical bills, subscription bills, tire repair, university fees, and rent. These instant loans get approved quickly, and one gets money in the account within minutes of approval.

Fast loan approval at minimal eligibility ensures a strong balance in life and avoids the stress associated with the fear of missing out. Under this, one can borrow up to €10000. The borrower must borrow only the required amount. The lender does not ask the reason; however, one must ensure regular repayments on the loan.

Who can qualify for instant money loans?

These loans are the most flexible to qualify compared to other personal loans. If you meet the below criteria, you may get the loan:

  • Must be a citizen of Ireland
  • Must be above 18 years of age
  • A valid account in Ireland
  • Must ensure suitable income proof
  • Unemployed people with benefits can apply for the loan
  • Can prove income source in the form of- salary, pension, dividends, benefits, spouse income, etc.
  • Should abide by the loan terms and repayment agreement
  • Appreciable credit history (recent) 

Instant Loans V.S. Personal loans: What should you choose for emergencies?

Many individuals confuse instant loans with personal loans. However, an instant money loan is a personal loan but operates differently.

Instant LoansPersonal loans in Ireland online
It is a quick solution to time-sensitive financial problems in which individuals can borrow money obligation-free.It is primarily a secured loan taken to fund long-term expenses. One can take personal loans to meet future needs.
One borrows money for 6-12 monthsThe loan repayment terms can vary from 1-7 years.
One can borrow up to €10000 in instant loansThese loan disbursements vary from €10000-€50000 as per the requirement.
 A small cash loan like an instant loan is disbursed the very same day to the bank account after approval.A personal loan may take 2-4 days for approval and amount disbursal.
You may get a loan if you are a salaried person and a citizen of Ireland. It is an unsecured loan.To get a personal loan, one must ensure a sound credit score, income, and collateral over the loan.
These loans have competitive interest ratesOne can fetch these loans at comparatively low-interest rates.
You can borrow instant money loans for: Paying subscription billsFixing the pipelineTreating the leaking roofAttending a medical emergencyFixing the broken window paneYou can borrow personal loans for: Buying a furniturePurchasing a carEnsuring a home renovationPreparing for educational expenseFund a wedding
These loans do not require a guarantor or a third person on loan to qualify; no guarantor loans in IrelandA lender here may ask for a guarantor if the collateral doesn’t suffice
Individuals with bad credit and unemployment may apply and qualify for the loanFetching a personal loan during unemployment may lead to rejection.

So, now you must be clear about when you should apply for instant and personal loans.

What must you look for While applying for Instant Loans in Ireland?

Multiple lenders provide Instant money loans in Ireland. Though, not everyone rises to par with the expectations. Here is what you must look for while applying for these loans:

1)  Analyze the total loan cost

While exploring instant loan lenders, and check the Annual Percentage Rate (APR) and interest rates. These loans have competitive interest rates owing to quick payouts. The higher the APR, the more expensive the loan will be. However, you may fetch an affordable interest rate if you have a good credit standing and employment history.

2)  “No-Credit Check”- A Warning

Some lenders offer high-acceptance loans with no credit check. If you encounter anyone like that, leave the table. As a part of responsible lending, every lender must conduct a soft credit check to prevent the borrower from the debt trap.

A responsible lender like Quickirishloans ensures responsible lending by remaining upfront and transparent about the total loan costs and repayments one has to pay over the loan term. There are not any hidden costs to fear. It not only helps clear the confusion but ensures peace of mind.

 3)  Flexibility to adjust the repayments

Not every lender provides the flexibility to re-adjust the repayments on Instant money loans. It is the reason behind loan arrears and bad credit scores. However, we help customers ensure the best experience by eliminating repayment troubles.

 If any time you feel deep in a financial crisis, you can re-schedule the payments. Stopping payments is not a good idea as it increases the interest on the loan. So, you can pay as per your current financial flexibility. Yes, we do not ask you to reveal a third person to manage a loan, hence providing no guarantor loans in Ireland.

Bottom line:

While these loans are the best form of personal loans in Ireland, they may not be ideal for everyone. Tap into your available sources to fund minimal expense. If you cannot find much, resorting to instant money loans is a time-saving option. To get at best interest rates and terms, contact us today.