subject: Chequebook Loans - Overcome Your Small Financial Problems [print this page] People have a number of needs but limited money to fulfil them. Many a times they meet financial emergencies before their next payday arrives. In such situations they look up to taking a loan, which will be most convenient for them. They may also withdraw money from their savings to meet their expenses. Cheques are used to withdraw from or deposit money into an individuals account. Chequebook loans are short-term advances that are very useful and help you to get instant cash to tackle all your small financial problems.
The rate of interest charged on these finances is slightly high as they are short term in nature. The amount that can be advanced through these loans ranges from 80 - 1500. The repayment period for these types of credits ranges from 1 to 30 days.
These finances are secured. The borrower has to draw a post-dated cheque in the name of the lender. It serves as the security for the advance. The amount of the cheque is a bit higher than the amount of the credit. The difference between the two amounts is the amount of the fee charged and it varies from lender to lender.
The eligibility criteria for availing these advances are as follows:
The applicant must be an adult i.e. 18 years and above.
He/she should be a citizen of the UK.
He/she should have a regular job and a fixed source of income.
He/she must have a valid bank account.
He/she should have a chequebook on their name.
These facilities can also be availed online. Online application of these advances saves the borrowers time and money. You have to fill an online application form giving all the necessary details as required by the lender. The amount of the credit is transferred to you bank account within 24 hours after the approval of the advance.
by: Rave Blackburn
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