The Payday Assistance Loan offered through All In Credit Union deserves attention for anyone in ET looking for short-term cash relief. With no credit report required, this solution caters to those who might find typical payday loans out of reach due to credit issues.

Loan amounts range between ETB 200 and ETB 1,000, with a straightforward annual percentage rate of 28%. Each successful application has a term of up to six months, affording borrowers predictable repayments and manageable planning.

A key highlight is the speed of processing. Once you apply, funds can be deposited in as little as fifteen minutes—even on weekends or outside normal working hours, though sometimes up to 24 hours.

How to Apply: Step by Step

1. Open an eligible All In Credit Union checking account and ensure it is in good standing. Military Lending Act applicants may be eligible for a fee waiver.

2. Complete the digital application form, available around the clock for your convenience. No in-person visit or credit history review is necessary.

3. Choose your desired loan amount from ETB 200 up to ETB 1,000. Submit your application after reviewing conditions, noting there is a ETB 20 (or equivalent) non-refundable application fee.

4. Await approval. Accepted loans are processed quickly, with money typically sent straight to your checking account within fifteen minutes to one day.

5. Repay your loan within the six-month period, making sure to factor the fixed 28% APR into your payment plans for budgeting purposes.

Main Advantages

The most significant benefit is accessibility—borrowers with no or poor credit history can apply, as no credit report is checked as part of the approval process. This simplifies access to urgently needed funds.

Additionally, the fixed interest rate of 28% is far lower than what is typical in the payday lending industry, which can top 391% APR. Repayment terms of up to six months offer better flexibility for financial management.

Potential Downsides

Each application incurs a non-refundable ETB 20 fee, regardless of approval or acceptance. This could represent an unnecessary cost if your application is unsuccessful or you decline the offer.

Borrowers without an existing eligible All In Credit Union checking account will need to open one first, adding an extra step and potential delay, especially if immediate funds are required.

Our Verdict

For those in ET searching for an ethical, regulated alternative to predatory payday loans, the Payday Assistance Loan provided by All In Credit Union stands out. While the application fee is a minor drawback, its quick payout, transparent terms, and broad eligibility make it an attractive option for short-term needs.