Somewhere or other, there is always some needs or emergency to take care of. For the same matter it is not possible for you to be financially prepared. These circumstances are faced most of the individuals. In this aspect, lenders have come up with a unique financial plan. With cash loans, now you can easily tackle any emergency or urgent needs without worrying about the finances.
You can term these loans as emergency loans, where in you get the finances in an instant. These loans are short term loans which are made available till your next payday arrives. This means that the amount is available for a period of 14- 31 days. Under the provision of the loans, you can obtain amount in the range of £100-£1500. The amount obtained can be used to cover the expenses on paying medical bills, credit card bills, shopping, accidental car repair, repairing of house, meeting traveling expenses and so on.
These loans are approved only if you fulfill certain guidelines laid down by the lenders. The amount can be availed only if you are employed with a suitable job for the past few months. Your salary should be fixed and not less than £1200. Moreover you should have completed 18 years. Along with it, an active checking account is also required which must be at least 3 months old. If you fulfill all these criteria, the lenders do not waste any undue time and approves the amount without any delay.
The only disadvantage with these loans is its interest rates which are comparatively high. It is because short term loans usually have a high rate of interest.
Borrowers with bad credit problem such as CCJs, IVA, arrears, defaults etc can also apply for the loans. These loans provide an opportunity to the borrowers to improve their credit ratings, if they repay the amount within the specified time period.
Cash loans are available with almost all the lenders. But to obtain the best rates, you should opt for online mode. The application process is simple and due to less paper work, the amount gets approved instantly. By comparing the quotes you will also be able to select a raw deal that suits your prevailing circumstances.