26 January 2020

Same Day Loans are an increasingly common and useful financial solution available to those who need a financial boost in a hurry. But you might be wondering, what are some of the biggest benefits to getting a Same Day Loan, when compared to other alternatives and even other types of loan?

Well, we have you covered! As a provider of Same Day Loans, we know what we’re talking about. Simply read on to discover what some of the biggest benefits of getting a Same Day Loan can be.

1. A Helpful Funding Source, Fast

The biggest (and most obvious) advantage to getting a Same Day Loan, especially when compared to other loan alternatives, will be the speed of the loan; as indicated by the name. With a Same Day Loan at Buffa, you simply have to complete a short and simple application process, where you tell us how much you want to borrow, and how long you will need to pay it back.

Once you’ve completed this application, you will usually receive an almost instant decision on whether your application has been successful or not. If your application is fully successful, you will be just minutes away from seeing the agreed upon loan amount in your bank account.

2. Don't be Misled by the Interest Rates

For those unfamiliar with the term, the APR (Annual Percentage Rate) rate of a loan is the measure for comparing the price of all financial products; things like mortgages, credit cards and, of course, loans. The APR Rate for a Same Day Loan is simply what the loan would cost if it were to be taken out over the course of an entire year.

The APR for short term or payday loans usually tend to run into the hundreds or even thousands of percent; and at first glance this can be an eye-watering amount of interest to consider.

However, a short term or same day loan will only typically last for between 4 and 12-weeks, and often much less time than that if customers choose to repay early.

To express the cost of such a loan as an Annual Percentage Rate is really rather misleading, as the interest is added over and over, over the course of a whole year to show what it would cost if the loan were being taken out for an entire year – even though we know this is really never the case with Same Day Loans.

3. More Convenient

An instant-decision, same day loan is also one of the most convenient methods to getting yourself a sum of money to quickly deal with any emergencies or short-term financial worries. At Buffa, with our Same Day Loans we try to really live up to our brand approach by keeping the application process as black and white and straightforward as possible. As previously mentioned, the process of applying for a Same Day Loan with Buffa is not only fast, but also convenient, and easy to follow, with proposed payments, timelines and relevant information presented to you in a way that is easy to understand and follow.

4. A Flexible Form of Funding

A Same Day Loan is one of the more flexible methods of financial aid you can access. Because our Buffa same day loans are fully flexible and designed to suit your individual circumstances, you can repay at any time. So, if you want to make early repayments or overpayments against your loan to make savings on the overall interest charges, that’s just fine; we never up any unnecessary roadblocks as - our service is here to help you, not hinder you!

Alternatively, if you prefer the certainty of knowing how much you need to repay each time, on a fixed repayment date each month, that’s just fine too. It’s your loan so you can repay it in the way that best suits you.

5. Transparent & Trustworthy

The final benefit we’ll go through of our Same Day Loans, is one of the most important ones to us; making the process of applying for our same day loans, as open and transparent as possible. With one of our same day loans we will never spring sudden, unexpected fees on you, nor will we hit you with any hidden charges or fine print. With a Buffa same day loan, what you see is what you get, and we pride ourselves on being open and trustworthy about our same day loans.

With a same day loan, you will always be aware of exactly what you’re expected to pay back and by when before you even finally agree to take out the loan. When we say no fees, we mean it. No late repayment fees, no loan arrangement fees and no hidden charges.

And that completes this blog article on five of the key benefits and advantages to taking out a same day loan with Buffa. If you wanted to learn a bit more about our same day loans, you can find out more here. Or alternatively for additional financial wellbeing hints and tips, you can go back to the Buffa blog for more articles like this, or visit our Debt Advice Hub for specific articles on a vast range of topics, such as Budgeting, Debt Advice and more.