Every UK citizens might have experienced some financial ups and downs in their day to day life. And because of their poor financial status people hesitate to apply for any kind of loans. Thus, now no need to worry about all these queries because, here is a loan which is offered to you without any check for your creditworthiness. This is a very good opportunity especially for the tenants, non-homeowners. With payday loans a person can satisfy his/her day to day needs such as for paying the pending bills, servicing your vehicles, repairing of your musical instruments and so on.
Pay day loans are a short term loans. The amount offered in pay day loans range from 80-1500. Pay day loans are offered for a period ranging from 1-30 days. High rate of interest is applicable to these types of loans. If the loan is not repaid on maturity date a fee as a penalty is charged along with the total amount. If the borrower is not able to repay the loan on time he may extend the repayment period but with a prior notice to the lender. The borrower has to fill in the prescribed application form with the necessary information. The lender then goes through the details and after finding it true the funds are transferred to your account within the time span of 24 hours.
In order get avail to this type of loan a borrower has to satisfy some terms and conditions. The following are some of the conditions that are to be fulfilled by the borrower for applying for this type of loan:
1.First and foremost the borrower should be a permanent citizen of UK.
2.The applicant must have completed 18 years of his/her age.
3.The applicant should be working with a reputed organization and must be earning fixed monthly income, with an active bank account.
The applicant can also apply for this type of loan through online.