The name of the loans itself suggests that amount under these loans get approved within the same day of application i.e. in less than 24 hours. These loans have been designed to get approved without any formality or documentation. In fact the loan to a certain extent bridges the cash gap that occurs in between your two consecutive paydays. You have to repay the amount when your next paycheck arrives.
Under the provision of the loans, you are entitled to borrow any amount in the range of £100-£1500. The amount is approved for a period of 14 – 31 days. As these loans are advanced without any security for a short term period, these loans carry a slightly high rate of interest. Although a proper research of the market will help you derive the loans with competitive rates.
To be eligible for the loans, you will have to fulfill certain conditions.
•Employed for the past few months with a fixed monthly income •A valid and active checking account •Age must be above 18 years with a citizenship of UK
Once you are able to fulfill the details, the amount is transferred in to your bank account.
Borrowers with a history of bad credit such as CCJs, IVA, arrears too can avail the loans as lenders approve the amount without any credit check. Moreover by systematically repaying the amount, these borrowers have a chance to improve their credit score.
The best way to avail same day cash loans is by using the online mode. Because of online processing, there is no scope any paper work or documentation, which then results in its quick approval. Further, you also have the option to compare the quotes of various lenders and select a deal that suits your circumstances most. Robin Gatting is a well known author and has been writing content for samedaycashloans. His content is
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