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People, who are in need of funds for meeting urgent cash needs, can look for lenders that offer same day loans. Many lenders are coming forward to offer loans on the same day for people even with bad credit. They do not charge any fee for granting loan. It is hassle free and quick to offer funds within one hour or 24 hours. They just look at your monthly wages to offer same day payday loans. People can avail instant funds from GBP100 to GBP1000 from lenders online. People can use funds for any purpose including paying stores grocery bills, electricity bills or for car repair etc.
Eligibility for getting loans on the same day
The lenders will not check your credit score for offering loans. You should be at least 18 years old and have employment in that nation for at least six months to get qualified for the loan. You should have a valid bank account with active debit card. You should also show proof of income. Valid mobile number and email id are required to apply for instant loans.
How to apply for Short term loan?
People need to look for trustworthy online lenders online and get quotes from more than three lenders. Compare interest rates apart from reading reviews of lenders online. You need to fill in details including country, name, loan amount, loan purpose (home improvement, Christmas cash, holiday, business, car repair, debt consolidation, IVA, cosmetic surgery, education etc), email and employment status at the lenders website and click on the submit button.
The lender will quickly verify submitted details and conduct online credit check for free. Borrowers with good credit score are offered more funds. They generally offer up to US$400 for initial loans. People, who are repeat customers after prompt payments, are offered higher amounts up to US$1500.
The lenders will inform the borrowers after quick verification of details and approval of loan. On getting the nod for loan, the lender will transfer the funds instantly to the given bank account. People can withdraw funds instantly and meet urgent cash needs. People, who can wait three or four days, can get loans at reduced interest rates.
People should be aware that payday loans are expensive. They should choose these costly loans as a last resort. For instance, you need to pay US$120 for a loan of US$100 on the next payday. The interest rates vary from lender to lender. Comparing loan rates will help to choose low cost payday loan with bad credit.
People can maintain secrecy in obtaining loans for meeting urgent fund needs. They can even pay for sudden hospital expenses. Some people may not keep extra cash for meeting immediate fund needs. Some people may be waiting for the next pay day for clearing credit card dues. It helps to pay for such dues and save few dollars.
Improve Credit Score with Payday loans
Pay day loans help people to improve credit rating. The lenders will inform the credit bureaus if you make the payments promptly. Same day loans can be of much help to people to tide over difficult situations.
Example on a loan of £200 for 30 days:
Amount payable - £258
Interest - £58
Interest rate - 352.8% p.a.
*repaid on your next payday
Amount you pay* - £258