Sometimes we all need money for emergency purposes in the month end
. Such a money should be instantly available or its purpose will be lost. If you fail to borrow from your friends or relatives, instant decision loans can serve you with timely money within 24 hours as these are specially carved out loans for urgency.
However, the decision on your online application will be taken instantly only if you are currently employed and get a monthly paycheque. These are payday-based loans. You are required to payback shortly on your next payday. Hence, lenders' risks are minimum and they do not make enquiries.
Instant decision loans are smaller loans in the range of 100 to 1500 until the period you get your next monthly or bi-weekly paycheque. Often, these loans are provided against a post-dated cheque from the borrower.
An advantage is that bad credit history is not an issue. These loans do not allow for making any credit checks on the borrowers. They can borrow instantly despite CCJs and payment defaults.
However, even if you have a good credit history, instant decision loans are expensive due to high APR. You should ensure that repayment of the borrowed amount is paid back on the due date without extending it.
Scan the websites of different lenders in order to locate a less burdensome offer of instant decision loans that you can repay without burdening your next paycheque. Surely these are useful loans for combating any emergency situation but these expensive loans should be availed very carefully.