Banks? Not really. They’re quite slow and there’s a lot of waiting and red tape. Nowhere near as fast and easy as Moola when it comes to a fast cash loan.
You could take cash out of an ATM using a credit card. Except there’s almost always a fee for doing it, plus a higher interest rate than normal and often no sweet interest-free period. Plus, this idea only works if your credit card isn’t already maxed out. Not an ideal scenario for a cash loan right?
You could borrow cash from friends or family, but failing to repay a loan from those sources has far reaching consequences than can affect your life for a long time.
You could pawn something but that’s a bit of a lose/lose situation when you think about it. You’re unlikely to get much cash for whatever it is you pawn and then, unless you pay the loan back, it’s gone, you don’t have it anymore.
Moola is definitely right up there as one of the fastest ways to get a cash loan. As long as you’re a New Zealand citizen or resident who’s over 18, not bankrupt, has a job, a cellphone, a bank account, an email address and access to a computer you’re pretty close to getting that cash in a flash.
It takes less than a minute to use our online calculator to design the loan you’re after, then we ask for a few basic personal details on the application form, but it’s all online so it won’t take long to get your cash loan organised.
How long does a cash loan approval take? To be honest it can vary; we’re responsible lenders so we like to make sure you’re not taking on something you can’t handle. Usually though, the longest hold up is contacting your employer or payroll to confirm your details and employment status, so it can help to speed things along if you give them a heads up first. But once all that is complete and approved, start the clock, because 60 minutes later your Moola cash loan will be in your bank account.