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It is getting harder and harder for a salaried person to cope up with emergency needs because ever increasing living cost. Hence to cope with these needs one can opt for payday loans. These loans provide instant financial assistance to its applicants to fulfill their uninvited expenses.
Feature-
These cash advances act as a financial support at the time of need. Borrower can fulfill their small needs like telephone bill, medical bill, grocery bill, school fee, sudden car repair etc. before their payday. The main advantage of these loans is it provides you immediate cash before your payday. Under these loans you can fetch the amount ranging from £100 to £1500 for the short period of 14 to 31 days. The repayment amount can be adjusted according your payday.
Application requirements-
To meet above advantageous processes, there are some mandatory prerequisites of payday loans. The prerequisites are indicated blow:
1. Your age must not be less than 18 years.
2. You must be named UK citizen.
3. Your residential proof must be past for 3 months.
4. You must be permanent earner at least £1200 per month.
5. You must have an active checking account at least 90 days old.
How to avail these loans?
The most convenient and best way to apply for these loans is online mode. You are just required to fill online application form with personal details like name, address, bank account number etc. you can save yourself from visiting the lender’s office or standing in long queues. The credit amount is transferred to your account with few hours of approval.
Summary-
Payday loans are short term loans, so the rate of interest charged on these loans is comparatively higher than other loans. These loans do not require you to put valuable properties as collateral, since these are unsecured loans. Bad credit history like CCJ’s, default, late payment, arrears, insolvency etc are not hurdles at all. Thus if you have bad credit record then no need to worry! You can easily apply for these loans.

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