Why are Pounds till Payday So Popular in the UK?
Payday loans in the UK can offer you an immediate respite from all your financial emergencies that crop up in the middle of the month when your payday is still weeks away. We all are dependent on our paycheck and sometimes run out of cash much before our next payday, and are left with no money to address emergency expenses, such as kids school fee, utility bills, mortgage payments, medical expenses, or car repairs. In such circumstances, pounds till payday offer us a helping hand.
How do these cash till payday loans work?
Well, payday loans are offered for a short duration till your next payday when you are required to return the loan amount. You can easily get these loans in the range of £100 to £1,000. For some reason, if you cannot repay the loan by your next payday, you can even request an extension by paying a nominal extension fee.
All those who need some fast cash but are afraid of getting into a debt trap can rely on pounds till payday loans as there is no better option in the UK than these loans. Although you may have to pay a slightly higher rate of interest, but it’s mostly for 30 days, so it won’t pinch you much.
No collateral and No faxing!
Most of the lenders are not interested in the credit history of the borrowers. This is great news for all those who have a bruised credit score and cannot get any loan from other lenders. Aside from this, you won’t have to fax your documents to the lender’s office as the entire application process is on the Internet right there on the website of the lender.
Best of all, lenders do not ask for any collateral for providing pounds till payday loans. Therefore, if you have nothing to offer as collateral, you won’t have to worry as you can still get approved for cash till payday loans. All that lenders want is a stable source of income of borrowers.
You can improve your credit score
All those who have a bad credit score can also improve it by making regular payment of their payday loans. This will help in improving the credit score, which can make them eligible for traditional loans at a lower rate of interest.
Cash transfer to your bank account in 1 business day
The biggest benefit of cash till payday loans is that you can get cash and can use the money to address your financial emergencies. As the entire application process is online, you just have to submit your name, cell phone number, bank account and job details.. An instant decision is provided online. Once everything has been clarified, the cash will be transferred to your bank account in 1 working day
Eligibility for getting approved for a payday loan
* You should be a permanent UK resident and 18 years of age
*You should have checking account in a UK bank.
* You should also be in a stable job in a company since the past six months.
Therefore, if you have some financial emergency, you should not wait and immediately apply for a payday loan.