How long are short term loans – a couple of weeks, a couple of months, or a couple of years?

It’s hard to pin down the definitive timeframe for such loans as lenders offer extremely different repayment periods, varying from a day, a week or a couple of years. The loan amount also ranges widely from a few hundred dollars to a few thousand. In real estate or for business purposes, these loans can be approved for considerably higher amounts.

The kind of short term loan you need will dictate where you go to get it.

Short Term Payday Advances

Arguably the quickest and easiest option for a short term loan is a payday advance.

With a Cash Relief, getting one is easy, with a 5 minute online application and NZ bank transfers within 60 minutes. It’s the fastest service around.

A short term loan in the form of a payday advance from Cash Relief can be for as little as one day up to a maximum of six weeks. Plus, you can borrow up to $800.

Short Term Personal Loans

These may be for any reasonable purpose such as a car, holiday, furniture, family needs, debt consolidation or repairs to the house. Conditions for repayment of a short term loan may range from 1 to 3 years and this may be secured or unsecured. The minimum amount for a personal short term loan from the major providers usually starts at around $5000.

Short Term Bank Overdrafts

Depending upon your relationship with your lender, it may be possible to obtain a short term loan as an overdraft facility to meet unexpected financial needs. If you’re in a solid financial position with a good credit record, you might be given approval to overdraw your account to a predefined limit and an agreed repayment arrangement. This is, in essence, a form of short term loan.

Short Term Credit Card Loans

If you’re in a rush, a short term credit card loan might take days to be approved and often requires a lot of paperwork. One major problem with credit card borrowing is that very often only a small minimum payment is required which means that you stay in debt for a long period of time with little incentive to pay it all off. This can also result in interest compounding on interest.

We can provide you with a short term loan of up to $800 with a simple and quick application to pay off your credit card.