It is every persons dream to be educated. Loans for students give the borrower a chance to be educated in which ever field he chooses.
Generally taking a loan is no easy task. The applicant has to stand in a line for hours to get the application approved. This is now become outdated. Loans for students have revolutionized the entire application process. This process has become extremely popular because of its speedy nature and paperless functioning.
The Eligibility criteria are as follows:
The applicant should be over 18 years of age.
The applicant must have an active bank account.
The applicant must be a citizen of UK.
The applicant must be employed.
He should be earning a monthly salary of 1000.
He should have an active debit card.
Loans for students are a quick way to obtain finances for individuals who have experienced bankruptcy or have a bad credit history in the past. The advance when sanctioned, reaches the borrowers account within 24 hours. The amount sanctioned will depend upon the employment condition of the borrower and his financial credibility.
Finances granted to students maybe secured or unsecured.
Secured; - The applicant has to place some asset as a security in order to apply for an advances. Generally, an amount ranging from 500 - 100,000 is granted.
Unsecured;- It offers instant cash advance for a short term period usually for 1- 10years, for an amount ranging from 1000 to 25000.The applicant is not required to place any security against the credit amount. The interest rates are higher as there is no guarantee that the loan will be repaid on time.
This credit advance usually does not require any credit check so your loan application will be approved even though you have a bad credit.
The application form is to be filled online; the entire verification is done through telephone or online resources; even the loan is sanctioned through internet banking. Some lending institutions may also require documents to be faxed for verification. Internet application saves time.