. Same day loans are devised to cater to the diverse expenses of the borrower. The advance sanctioned is of a limited amount.
Any kind of expenses can be taken care of such as paying utility bills, medical charges and repairing of a car.
As these finances are approved within a day, no documentation is required. An easy and convenient method to apply for this credit is to apply online. The credit is sanctioned within 24 hours. The amount is automatically deposited and transferred to the borrowers account .The interest rates charged are generally higher than other loans, as they are a for a short period.
The following criterion needs to be fulfilled in order to avail same day loans. They are as follows;
The borrower must be a permanent citizen of UK.
He must have an active bank account
He should be a permanent employee of any organization for at least six months.
The income proof should be a recent salary slip.
His monthly income must be over 1000 per month.
He should be over 18years of age.
He should have a debit card.
These finances are granted for a period of 1- 30days. The credit amount granted ranges from 80- 1500. The amount has to be repaid when the next payday arrives.
Same day loans can be applied online. The internet application system works round-the-clock. The lender gets back to you within minutes of your filling up of the application form. Online mode of application makes the whole process easier.
Thus a large number of borrowers prefer to use such a mode to apply. If the application is submitted during the standard business hours, the credit is sanctioned within a day.