There are many people who require quick funds in time of need
. These people usually belong to the working class. Since they get their pay only once a month, they do not have any money left for urgent expenses. In such a case, these people can apply for same day loans.
Same Day Loans are finances which cater to the immediate needs of people. They borrower can pay the amount back when he receives the next paycheck.
The borrower can avail an amount ranging from 80 to 1500. He can pay this amount back in a stipulated time period of 1 to 30 days.
The borrower has to meet certain criteria before he can be eligible for the finance. They are as follows:
The applicant should hold a valid citizenship of U.K.
The applicant should be an adult of 18 years or above.
The applicant should be employed in any organization and should earn a regular monthly wage.
Lastly, the applicant should have an active bank account.
The attractive feature of this finance is that the cash is received very fast as there is no faxing or documentation involved in the whole process. People who have a bad credit history can also apply for this finance without hesitation. The borrower can remain out of debt if he pays the amount back on time.
However, the borrower will have to settle with a high rate of interest. This is owing to the fact that the advance is short-term in nature. If the borrower is unable to pay the amount back on time, he will have to pay a penalty and will also have his credit rating adversely affected.
The borrower can apply for these service online. The online application form can be filled and submitted instantly. After verification, the money is directly transferred to the borrowers bank account.