Cash loan are collateral free short term loans. The main feature of this loan is to meet the unexpected financial emergencies that pop up before next payday. This sort of loan is also known as instant loan, cash advance loan and payday loan.
No credit check is done for the approval of this loan. Thus borrowers suffering from bad credit record such as CCJ, arrears, defaults and late payments are eligible for this loan. This loan acts as a bridging loan that will help you to avoid financial shortfall before your next payday.
There are few criteria that must be fulfilled before you apply for this loan. You should be a regular salaried employee. You should also have a valid checking account for the approval.
The amount received as cash loan can vary from £100 to £1,000. The repayment term provided is 7 to 31 days. The amount that you receive through this loan can be used to make any kind of expenses such as grocery bills, electricity bills, tuition fees, home repair and care repair.
Since cash loan are short term loans, its interest rates are slightly higher. For competitive interest rates and better deals, the borrowers can negotiate with the lender.
Applying online is the best way if you want to get hold of this loan instantly. To apply for it you will have to fill in an online form that will hardly take a few minutes. You will have to provide a few personal details to the lenders. Once the lender approves your loan, the amount will get transferred to your account within 24 hours.
Cash loan are offered to all sort of borrowers. No credit check is done for the approval of this loan. It is one of the best and ideal options that will provide you sufficient fund to meet urgent financial requirements.