National Payday Loans Review (upd. April 2020) From the Experts and Custumers

Once you found yourself in the middle of your paydays when an unexpected event happened, don’t worry. You always can ask for help a lender that will fulfill any financial task quickly. With a company like that, a person is able to cope with all the temporary difficulties and fix all the budget problems. National Payday is an online lending service providing effective money solutions to customers who feel trapped with some emergent circumstances. Their offers are available all over the United States and it’s easy to reach them through the Internet. It operates as a direct lender and was established in 2000. Here, a new customer can complete a free application form and ask for $ 400 or less and regular clients have the chance to obtain up to $ 1000. In case a person meets all the lender’s requirements, there’s an ability to be pre-approved and approved instantly. This company offers flexible money-return schedule and deposits funds to a customer’s banking account. Read the review and get more info about its advantages, disadvantages, fees, and services.

Advantages of National Payday

National Payday has several benefits that differ it from other lenders:

fast application confirmation;
quick depositing;
information details and budget advice.

Fast Confirmation

A customer has to provide three important information categories when applying for a loan:

personal data including the name, address, email, phone number, date of birth, residence data;
employment information containing the employer’s name, contact data, salary amount, banking account data, military details, payday schedule;
security details which include SSN, driver’s license, loan sum, etc.

Usually, eligible applicants don’t have to wait for too long to be pre-approved. This decision is delivered just within a few minutes after a customer sends a form. And National Payday informs about its decision in a few hours or the next working day. Newbies who haven’t ever used the offers provided by this company may hope for getting up to $ 400. And regular customers can even obtain up to $ 1000 here. A client has to return the borrowed money sum when the next paycheck arrives. That is in around 5-16 days after you get a loan at National Payday.

Quick Deposits

National Payday is a fast service that will always give a helping hand to a person in need. Requests are approved extremely quickly and you will be sure that money will be deposited as soon as it’s possible. This lender has an exclusive option and can transfer funds to your banking account on the same day when you sent an application. Otherwise, you’ll receive extra money within 1-3 working days. Notice that some banks can take a small commission when funds are deposited to your account.

Information and Budget Advice

This company gives full information connected with loans, their advantages, and disadvantages. It also explains why customers should prefer direct lenders and stay away from networks. National Payday also gives pieces of advice helping choose the right company to work with. They comment on why it’s better to pay attention to experienced lenders with a rich history and why it's important to have a blog and social communities for such firms. This lender has both an active blog and social media pages. They offer people to take part in their contests, provide an affiliate and referral scheme.

Disadvantages of National Payday

The lender has a few disadvantages you have to consider:

high APR rates;
short money-repayment period;
poor customer support.

High APR Rates

National Payday has rather large interest rates in comparison with other lenders. Besides, their charges are much bigger than many familiar companies providing loans offer. This sum becomes a real challenge if it comes to annual percentage rates. The lender sets a charge of 25 % which means that a customer will have to give $ 25 for every borrowed $ 100. The APR rate depends on the length of a customer’s money-return period and it may be really impressive due to the following info:

in case you choose to repay the obtained money sum within 16 days, your APR rate is almost 507 %;
2-week money return period comes up with over 651 %;
1-week money-return period has over 1303 % APR rate.

Short Money Repayment Period

A customer can’t expect for a long-term loan use because National Payday demands the money to be returned in a tight period. It even has conditions requiring a customer to repay the borrowed money amount within only 5 days. And this loan will definitely have high rates. If you want to get more information connected with the company’s charges, you have to visit its FAQ page. National Payday provides its customers the chance to choose how to return the money. They can give the entire sum on the prescribed date or divide it by 5 portions and extend their schedule. In this case, the lender wants to receive a minimal fee. If you decide to ask for a longer term, you have to inform the company about your decisions by 2 pm on the day before the determined date. They will set a charge of 25 %. Of course, this option may seem to be convenient but it may lead to a larger sum you’ll repay to the lender.

Poor Customer Support at National Payday

This company gives several methods of connection. They include a phone number, email form, and fax number. Although they respond quickly via email, their phone number doesn’t connect you with managers.

Final Words on National Payday

National Payday comes up with fast application confirmation and the chance to borrow $ 400 for newbies and $ 1000 for regular clients. The money-return schedule depends on your payday scheme and varies from 5 days up to 16 days. This term is rather tight but the lender can extend the money-return conditions. But you have to remember that they have really high rates and when the repayment date comes, you’ll have to return much larger sum than you borrowed.