. They depend on their monthly pay check to fulfill their needs. There maybe some needs that cannot be fulfilled as they come at times when finances are slim. For all such situations urgent cash loans are available in the market.
These advances like all others can be used for any need of the borrower. There are no restrictions from the lender regarding the usage of the credit.
The fiscal aid which can be availed ranges from 80 to 1500, for a repayment term ranging from 1-30days. The lender decides the amount to be lent depending upon the borrower credit standing and employment condition. People with bad credit histories can also avail of urgent cash loans. The only difference would be that these people will be charged a higher rate of interest. If these borrowers default in repaying the credit lent, a fee is charged.
The eligibility criteria to avail of such finances are as follows;
-The applicant must be over 18years of age.
-The applicant must be employed.
-He must be employed for over 6 months.
-The applicant must be a permanent citizen of the UK.
-He must have a bank account in his own name.
-He must also hold a credit card.
Once the borrower meets these requirements, the loan amount will be transferred in his bank account within 24 hours.
The borrower should remember to pay back the loan amount within the stipulated time period or else these financial advances add to ones debt. This makes it easier and worth-while for the borrower to opt for this loan.