Advantages of Getting Payday Loans in UK

Payday Loans UK – A One-Stop Solution

All of us have experienced the panic of emergency and unexpected expense at some point in our lives. These are the situations when we look for quick cash from a reliable source to lend us money. When it comes to the borrowing of short-term loans, what can be a better option than payday loans, especially if you are in UK? Payday loans originated in the US, but the phenomenon keeps on growing by leaps and bounds and has become really popular in the UK over the last five years.

Payday loans, in UK, usually offer short-term loans in a small amount of £500. A large number of people use these loans in their time of need.

How Can You Be Eligible For Payday Loans in UK?

Payday LoansIf you wish to utilize this service, the following things are required that will make you eligible for this service. They are:

  • The applicant should be of or above 18 years old.
  • The applicant should have a permanent job, or they should have pension receiving an allowance, any other official benefit.
  • They ought to have a personal bank account with a valid ATM card.
  • The credentials should meet our criteria and affordability evaluation.

How Does It Work?

Payday loans in UK have a very simple procedure of quick money lending:

1.      Apply

  • The applicant has to select their desired amount between 100 – 1,000 using the loan calculator
  • They have to select the installment number (1 -5) they’d like to repay loan in
  • Once the applicant has decided their installment amount, click (Apply now)
  • Fill the application form

2.      Get A Decision

  • Once an applicant is done with their application form, they’ll get the decision.
  • If their application gets approved, they’ll be offered with five loan packages along with installment amounts based on their request; here applicants should select that offer which suits their financial position.
  • Applicants have to ensure that the amount required for repayment is affordable to them
  • After deciding the loan offer, enter the debit card detail and wait for the process.

3.      Get Your Money

  • Read carefully and understand all the official contracts before signing your loan agreements.
  • Sign your loan agreement electronically

instant payday loan

Handy Cash – Enjoy The Benefits

An instant payday loan can really help you in the following instances, such as:

1        Rapid Turnaround

  • It’ll take a couple of minutes to apply for payday loan.
  • Once your application is completed, the money will be transferred to your account within an hour, even faster sometimes.

2        Convenience

  • Payday loans in the UK are very convenient, and you can apply from anywhere as long as you have an internet connection.

3        Greater Choice

  • People applying for payday loans in UK are provided with plenty of options in the selection of loan and installment amounts.
  • Unlike traditional banks that offer fixed amount of loan (£1000), Payday lenders in UK enable applicants to browse the market to find the best rate.
  • Moreover, payday lenders in UK allow applicants to get small loans as low as £75.

Sources

http://www.slideshare.net/handycash/instant-cash-payday-loans-uk-advantages-and-disadvantages

http://financesonline.com/payday-loans-uk-no-credit-check-online-approval-benefits-regulations/

https://en.wikipedia.org/wiki/Payday_loans_in_the_United_Kingdom

https://www.paydayuk.co.uk/how-it-works

https://paydayloans.quiddicompare.co.uk