What Are The Benefits Of Allotment Loans?

Take Advantage Of These 7 Benefits Of Allotment Loans 

You may have heard your co-workers talking about allotment loans. A lot of federal employees have utilized allotment loans offered by Access Loans because of the benefits. 

What Are Allotment Loans?

Allotment loans are a type of loan available to federal employees, even those with bad credit. This type of loan does not require collateral, has fixed interest rates, and fixed payment terms.

In an allotment loan, the borrower allots a certain amount for their paycheck to pay for the loan. The loan payment is deducted from their paycheck each month until they pay off the entire loaned amount. 

What Are The Benefits?

1. Flexibility And Confidentiality

Allotment loans can be used for any purpose you deem fit. We do not limit the type of expenses you can fund with allotment loans. Consequently, you don’t need to declare what you will use the fund for. 

2. Easy Qualification

If you’re part of the 16% of Americans with bad credit and are a federal employee, you can still qualify for an allotment loan. Simply present identification requirements, and you already have chances of getting approved for an allotment loan. 

3. Fast Approval

With us, you can get approved in a matter of hours and get your funding fast. It’s perfect for emergency expenses.

4. Fixed, Low Interest Rates

We offer low interest rates for federal employees. The interest rates you get at the start of your loan will remain the same until the end. No need to worry about interest rates hiking up. 

5. Flexible Payment Terms

If you get a discretionary allotment loan, you have the freedom to designate the amount to be deducted from your paycheck every month. This is meant to make the repayment more manageable for the borrower. Of course, the higher you deduct from your paycheck, the shorter your loan will become.

6. Short Payment Plans

The amount you borrow through allotment loans will be divided between your paychecks. From the beginning of your loan, it is clear how much you will pay and for how long you will be paying. You don’t need to think about repaying your allotment loan for years. 

7. No Missed Payments

Since allotment loans are deducted from your paycheck each month, you don’t have to worry about missing payments and paying double the next month. 

Take control of your finances this year by applying for allotment loans from Access Loans. 

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