Short term loans- Smooth cash aid for short span
Today time has changed and it has become easy to avail the financial help without any formality or going through lengthy procedures with short term loans. These loans help you out at the time of urgency and fulfill your requirements without any delay. These cash advances are the most suitable way to get monetary aid for the small emergencies.
Characteristics
Short term loans are available for all kind of borrowers. It means that people with bad credit history like late payment, arrears, default, insolvency etc can easily go for these loans. Under these cash advances you can fetch the cash up to £1500 for the period of 14 to 31 days. There is no hassle of faxing of bank statement or documents etc. So these are totally hurdle free loans. The raised fund can be easily used for any household expense or any other requirement.
Application procedure
The application procedure for these loans is very easy as you are only required to fill an online application form with some basic details like name address, loan amount, account number etc. the amount gets deposited in your account just with in 24 hours of approval. This online facility makes these loans more fast and convenient.
Eligibility condition-
In order to get financial help from these loans the borrowers are required to fulfill certain conditions-
1. The applicant should be permanent citizen of UK and should be an adult with the age of 18 years or above.
2. He should have permanent bank account under his name in UK itself which should not be more than six months old.
3. The borrower should also be a regular employed from the past six month within the same organization.
4. He should earn the minimum salary of at least £1000 per month so that will be able to repay back the loan amount on time.
5. He should have permanent residential address in UK itself
Summary
As the name only suggest that these loans are short period by nature so the rate of interest for these loans is comparatively high but you can easily search for the lower rates on the internet. Usually loans are grated to you against security but these cash advances are unsecured so there is no requirement of placing your expensive property for collateral.
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