subject: Salary Advance Loan Get Monetary Help And Get All Your Problems Solved [print this page] One thing that is more difficult than getting a job is managing your salary. It may look strange but this is true. Most of people get their salary exhausted before their next payday. In such critical situations, they are left with only one option and that is going for loan. One such loan is salary advance loan.
It is short term money given to a person to finance all his/her expenses. Once he/she receives salary, he/she may easily repay the loan. Thus it is just a salary that is obtained in advance. The amount of salary advance loan may range from 100 to 1500. This amount may seem small but is very useful when given without any credit check. Lenders usually do not go for any verification before granting loan.
This loan is usually granted to the persons of UK only. The age of applicant should not be below 18 years while applying for such loans. He/she should also have a valid checking bank account in UK. This will help the lender in crediting the loan amount directly into your account. Some lenders may also ask for salary slips. This is because they do not want to give loan to an unemployed person.
This loan is generally granted without any collateral. It means that the borrower need not keep any of his/her assets with the lender, if he/she wants to take money. As this increases the risk of default to the lenders, so in most of the cases, lenders charge high rate of interest on this loan.
This high rate of interest may appear to be a hurdle but seeing all the merits of this loan it is not so high. A borrower may also get his/her interest reduced by selecting the right lender for his/her loan.
by: Gamin Kils
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