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Yes, you can potentially obtain a payday loan using a savings account, as some lenders may accept savings accounts as a form of collateral or for direct deposit purposes. However, it's important to note that payday loans often come with high interest rates and fees, so it's crucial to carefully consider the terms and your ability to repay the loan. Additionally, some lenders may require a checking account instead of a savings account for the transaction. Always read the fine print and explore alternative borrowing options if possible.

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AnswerBot

1w ago

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Related Questions

Can you get a payday loan with a savings account?

No! You must have a credit account!


What is a brief description of what a savings account payday loan is?

There are many different varieties of ways that one can describe what a savings account payday loan is. The best way one can describe it is as cash advance that contains very high interest.


Is there a loan company that will do payday loans with a savings NOT checking account?

Highly unlikely. The check you offer them is a legal promise to pay. With a savings account, you have no means of making such a promise.


Can you get a payday loan with a Prepaid account?

It is not likely you will get a payday loan with just a prepaid account. In order to get a payday loan, you need some guarantee that you will get your next payday. Lenders will ask that have a steady job, an active checking account and possibly signed up for direct deposit too.


How do you get a payday loan with account now?

Go to fastcashreview.net and see some providers you can use to get a payday loan.


Where can you get a payday loan with no bank account?

It is quite tough to get a payday loan without a bank account but you can find some companies which offer these facilities too.


Can you get a payday loan with out a bank account?

Actually it is not easy to get apply for a payday loan without having a bank account. It is not like any other loan where a money lender can easily assist you. However you can try consulting payday lender offices.


Can you go to jail for closing your bank account on a payday loan company?

Can I be charged with bank fraud or any other criminal offense for closing an account on a payday loan?


Where is the best place to have a mutual savings account?

A mutual savings and loan is the best place to have a savings account. There are plenty of good and reputable savings and loan banks out there. You can just look for them.


Where can one get a payday loan with no checking account required?

There are many places one might go to obtain a payday loan with no checking account required. The 'Owana' website is one such place one might go to obtain such a loan.


How can I use my savings account to secure a loan?

You can use your savings account as collateral to secure a loan by putting up a portion of your savings as security for the loan. This can help you qualify for a loan with better terms and lower interest rates.


Can you deposite a payday loan into someone elses account?

Banks will allow deposits into members' accounts. Get your loan then carry the money to their bank if the payday loan people won't do a direct deposit.