short term loans – get started now!
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Short Term loans – Get Started Now! A payday loan is easy to get and don’t involve too many complications and documentation. They are
a great option when one is running out of cash and an unforeseen expenditure arises. Most of the
people in the UK are acquainted with the situation when it is the end of the month and something
comes up and they don’t have sufficient cash. It may be their friend’s wedding, a sudden illness, an
unexpectedly high utility bill or anything else. In such a situation, the instant cash is the best option
that you have. If you are a permanent citizen of the UK, you can easily apply for an instant cash
online. There are a few basic conditions that must be met. You must be at least 18 years of age or
above. You should have a regular source of fixed income and a current running bank account.
Short term loans allow you to repay the loan in shorter duration. Though the loan repayment
duration depends on the type of loan, but usually payday loans provide finance for the duration that
suits your repaying ability and personal circumstances. Normally, getting these loans is very easy and
not many written formalities are required. There are some banks that also provide the cash
advances on the basis of an SMS or an email from the customer. Some jurisdictions limit the amount
of the annual percentage rate (APR) – the rate at which the customer is supposed to pay the interest
in order to prevent usury. For the lenders on the other hand, payday, loans have a high rate of risk.
They have a default rate of 10-20%.
Here are some advantages that come with payday loans compared to other commercial bank loans:
Easy loan to qualify for: Throughout the UK, most of the payday loan providers only want to know if
you have a regular source of fixed income and have a currently running bank account. If you meet
those qualifications, you can get the money fast. With other types of loans, you have to fulfill
hundreds of formalities.
Instant cash approval: One of the big advantages of payday loans is that they are quick to get. The
processing of payday loan is very simple. You can borrow a small amount of money when you need
the most. This simply is not the case with other types of bank loans.
Flexibility: Another advantage of payday loans is that they are flexible. You can get the money and
spend it how you see fit without any restrictions. With other types of loans, this not the case.
Convenience: In the UK, payday loan lenders are usually very easy to deal with. They have
convenient hours that are typically more flexible that what you’ll find with commercial banks. This
makes it easy for you to get payday loans and easier to make your repayments on time.
One can easily get a payday advance of £100- £400 for a period of 15-28 days (usually till the date
the next paycheck of the customer comes). The general rules and regulations to get a payday
advance include: the person applying should be a permanent citizen of the UK, they should have a
valid bank account, they should be above 18 years of age, they should have a regular source of
income and their income should be above £1000. The person applying for the fast payday loan
should know that these loans have a higher than normal rate of interest. But at the same time they
do not reflect badly on the person’s financial records. Thus, they have proven to be the fastest and
the safest option for small financial hiccups.
Nextcredit is the fastest direct payday loan lenders in the UK, you can be assured that the money
will be in your bank account in a matter of minutes. We at Nextcredit, always try to encourage our
customers to repay their loan in due time. In case you are unable to repay the loan in time, we are
within our rights, to enforce late payment fees and interest as per company policy. For more
information, visit Nextcredit.Co.uk