subject: Same Day Loans - Convenient And Hassle-free Finances! [print this page] People who get their pay only once a month need to use their salary to pay off urgent bills and school fees and so on. However, when they need extra money to satisfy their personal needs, they can apply for same day loans.
They are short-term advances which cater to the immediate needs of people. Same day loans provide immediate funds which can be paid back when one receives the next paycheque.
The lending institutions can sanction amounts ranging from 80 to 1500. The borrower has to pay the amount back in a stipulated time period of 1 to 30 days.
The borrower can get instant cash by availing this facility. There is absolutely no faxing or documentation required in this and the money is received quickly. People who have a bad credit history can also apply for this advance.
The major disadvantage is that the interest rates are comparatively higher. This is due to the short-term nature of the advance. If the borrower is unable to pay the amount back on time, his/her credit scores will be negatively affected and there will be a penalty charged as well.
The borrower should meet certain criteria before applying for this credit. They are as follows:
The applicant should be a permanent citizen of U.K.
The applicant should be an adult of 18 years or above.
The applicant should be employed and should also earn a regular monthly wage.
The applicant should ideally have an active bank account.
The borrower can make life easier for himself by applying for these funds online. These methods are the quickest and most convenient methods available. One has to fill an online application form and with the click of a button, the form is submitted. The lender then verifies the form and after this, the money is electronically transferred to the borrowers account.
by: Stephen Pilgrim
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