Payday loans are the best that you can have to fulfill those urgent cash requirements while your next paycheck is yet to arrive. The loans offer instant cash without any collateral or hassle. Any person with regular income source can avail these loans irrespective of their credit rating. The loans also come with flexible repayment terms.
It is often quite hard for salaried persons to meet their urgent cash requirements during month-end especially if their payday is at a distant. This calls for a short-term solution providing instant cash for the urgent requirements like bill payment, etc. That is exactly when the payday loans come into action facilitating such needy people with quick cash. The payday advance loans are the best short-time budgeting solution for availing smaller amounts in order to mitigate those emergency monetary needs. The loans don’t require any collateral and are processed quickly. The lenders of payday advance loans can be found worldwide and UK is no exception to it. Apart from the reputed online lenders, one can also locate numerous land-based lenders in every nook and corner of UK.
Frequently Asked Questions (FAQ’s) on pay day loans:-
Q. How much loan amount can I get?
A. The maximum loan granted is around £1,000-1500. The loan amount corresponds to your monthly income. However, the actual amount dispensed solely depends upon the decision of the lenders after thoroughly evaluating of your loan application.
Q. What are the eligibility criteria for the loan?
A. Pay day loans are free from those tough eligibility requirements. You just need to be currently employed with a steady income source. You should be a valid citizen of UK aging 18 years or more. You should also possess a savings bank account facilitating direct deposit.
Q. How fast are the loans processed?
A. The processing begins as soon as you submit the application. Generally, the cash is directly deposited into your bank account within 24 hours maximum.
Q. How to make an online application for the loan?
A. Making an online application is very easy. Just complete the online application form available on our website and submit it along with the scan images of the necessary documents. Applying online is hassle-free and quick.
Q. Which details and documents are required?
A. Personal details like your name, present address, contact information, employment records, paycheck details, bank account information, etc. are required. Accordingly, scan copies of documents proving such details need to be uploaded too.
Q. Is the personal data submitted safe?
A. Yes, your personal details are completely safe from eavesdropping or illegal access. Data transfer across our website takes places through 128 bit SSL encryption technology ensuring complete safety. We respect our customer’s privacy and handle their personal information confidentially. No third party is provided access to your details.
Q. What about the application fee?
A. We don’t charge any application or processing fee.
Q. I’m a poor credit holder. Can I avail the loan?
A. Payday advance loans are processed strictly based upon the employment records and income details of the applicant. Credit ratings have nothing to do with such loans and hence are irrelevant. Many poor credit holders have availed the loans without any trouble at all.
Q. Can I get multiple loans at once?
A. No, the next loan request will be processed only after you repay the earlier one.
Q. What about the repayment terms?
A. Payday loans come with flexible repayment terms. Generally, you are required to repay the entire loan on your next payday. However, in some cases, lenders may allow repayments in equal monthly installments.