UK Pay day loans

Payday loans can help you by providing the money you need for your financial emergencies with a wide range of financial situations.

Terms and conditions that often apply for a payday loan are:

  • Be over 18 years old.
  • Be in a permanent employment.
  • Earn more than £500 net salary per month.
  • Have a bank account with a valid debit card.
  • Meet credit criteria and affordability assessment.

Borrowing a payday loan is straightforward and not that difficult. You can make online decisions, normally without fax or post. Payday loans can help you with various types of financial circumstances such as paying an unexpected bill, organizing emergency child care for your children or paying your unforeseen MOT repairs. An important fact to be kept in mind is, before borrowing a payday loan make sure you can afford to repay it on your next payday.

You can borrow from £100-£1000 depending on the circumstances. You have to pay a daily interest rate so you will only be charged for the number of days you borrow the loan and minimum number of days can be 15 days.

In addition, there are no arrangement fees to set up the pay day loan and no hidden charges. If you fail to repay your loan within the agreed time, you may have to pay a missed payment fee. You can repay the amount from your debit card on your payday for the agreed amount and no other charges will occur during repay. Only late repayment can cause you to pay an additional amount of extra money spend.

Furthermore, you can renew your loan according to request. Although it can be renewed, these loan systems are designed for short term financial needs and are not appropriate for longer term borrowing for any financial matters. If you have serious financial difficulties, you can get advice from any financial consultant regarding taking payday loans for long-term purpose.

According to your request, the company can allow you to renew payday loan to a maximum of two times by paying the interest. For that, you must repay the original amount borrowed and the relevant interest amount on the following payday.

There are no set-up or admin fees may be charged on your payday loans.

Only APR should be paid for borrowed amount. The APR stands for Annual Percentage Rate and is the interest payable on the amount you borrowed and other charges expressed as an annual rate charge. You have to tell what your APR is before you sign the agreement.

In some circumstances if you are not be able to repay the loans, due to personal and financial issues, you must let your financial company, who lent you the money, know as soon as possible.

We advise you to not to borrow money if you think that you can’t pay the loan back as it will end up with serious financial disaster. Payday loans are for short term and also you cannot borrow that for longer term financial difficulties.

 

One Response to UK Pay day loans

  • GenevieCOhlsson says:

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