Most of the people in the UK belong to the working class
. Thus a majority of the people depend greatly on their monthly pay check. During the course of the month, he may have some problems in meeting his emergency needs. For the satisfaction of these special needs, small personal loans are granted.
Lenders offer a loan with a short repayment period to take care of those expenses. It is a fairly simple process. Lenders offer amounts ranging from 80 - 1500 with a repayment period of 1 to 30 days generally. The repaid amount will also have to carry a small interest sum.
The application for credit is approved instantaneously, and the credit is received within a day. As there is no documentation or credit check, people with previous poor credit history can also apply for the same. The applicant must read the terms and conditions before applying for this credit. If he fails to repay the amount on the specified date, a fee is charged. The rate of interest charged is slightly high; this is because the advance is lent for a short time period.
The eligibility conditions are as follows;
1.The borrower must be a permanent citizen of UK
2.He must be an adult .i.e. he must be over 18 years of age.
3.He must be employed.
4.His monthly salary must be over 1000 per month.
5.He must posses a valid bank account and credit card in his own name.
Small personal loans can be applied for online. This process allows speedy availability if finances. The application forms for this advance are available online. This makes the process even simpler and faster. One can fill these forms at the comfort of ones home or office and does not have to submit any documents along with the form. For those in desperate need of cash, this facilitates them even more.