A loan that is of short tenure and unsecured with a borrowing option to repay it in next day of the salary is called a payday loan. ZippyLoan lending companies act as a bridge between borrowers and lenders. A payday loan will have high interest compared to any other standard medium like a bank and will have a cap for interest to ensure that no lenders charge exorbitantly.

• Loans are available even for a borrower who has a low credit score.
• It takes much less time for Loan approval and the amount will be credited instantly once the basic information and document are uploaded compared to when approaching the bank.
• User friendly and have a wide option of lender which makes the borrower choose the best and who offer less interest loan.
• Can get instant money or a maximum to the next working day.
• 24/7 customer service which makes applying for a loan at any time and also can know approximately the amount to be approved. This is most beneficial when the borrower needs instant money for immediate medical emergencies or any other situations.
• No processing fee or agents commission needs to be paid

• Cons
• It’s a short-term loan with high-interest rates that are higher than any standard interest offered by the bank
• Though it is quick still borrower has to be extra cautious in repaying the amount without any delay as it has a high interest and may end up paying a lot more than the actual amount.
• There may be fraud companies that can misuse the personal details and also encircle the borrower in debt with any hidden interest not displayed on the website
• Don’t work under any government regulations to carry out the process as in banks whose work is monitored.