Quick Loan – How a Quick Loan Can Help
Fast cash or quick loan in Kenya is where you need funds in a hurry to bail you out from some sticky situations. It may be due to the lack of planning especially during the holidays or weddings. The funds are usually repaid from the salary or pay cheque.
How do you access a quick Loan in Kenya or fast cash
For most people, who are banking in kenya there will be a need that must be met immediately. It is prudent to consider and plan for a rainy day such as this and where the funds are expected to come from and how to repay. Always have a back up source of quick funds. Majority of us who require quick funds or bailouts from time to time, even when we have carefully planned.
Family as a source of Quick Loan
The first cheap source of quick funds if the family unit or close friends. We must likely already have an open account with our relatives and close friends. The advantage of these funds is that they are more often than not interest free. The repayment period is negotiable and friendly. To maintain this source of funds, one must ensure that repayment is honoured and timely as agreed. It must be noted that sometimes, our relations’ and friends may not have fast cash to bail you out so we must explore plan B, C…..
Bank as a source of Quick Loan
You can approach the bank for a quick loan in Kenya. This is usually in the nature of a personal loan. You are required to fill out forms and give the necessary security. It is therefore advisable to approach your bank and not a new bank for such funds. The time factor in such cases is of essence, so when applying for such funds have all required documents and attachments ready and available. It usually takes about 48 hours. The applicant can have an over draft facility with the bank – these extra funds are at a higher interest.
The source of quick loan or fast cash that you select should be the one that meets your requirements best. The most important being:
- interest rate factor,
- the amount available and
- how fast it is availed.
- The flexibility of the repayment period could also be considered.
We all need a quick Loan in Kenya now and then, so you should have your options ready and keep in touch with your sources to avoid surprises.