Sudden Cash Quick Solution
As the name speaks, these loans are basically very fast loans that can be approved within 24 hours or less. Because it does not include certain activities such as hectic paper work, credit checking and above all, it does not require on part of the borrower to pledge any collateral against the loan amount.
The amount that can be borrowed ranges from 100-1500. The repayment term period of these loans is generally very short i.e. varying from 15-31 days. As these are short-term loans, the repayment term is short and made to collide with the payday of the borrower. These finances owing to their short term and free from collateral nature are accessible at somewhat higher rates of interest.
In order to be eligible for these loans, one needs to fulfill the following criteria that is laid down by the lenders:
The borrower must be at least 18 years of age or above.
The borrower must be a legal citizen of UK having a proof of the residence for a period of minimum 6 months
He must be having a permanent job. His impending pay cheque would play the role of the collateral.
He must be earning a minimal monthly income of 1000.
He must possess a valid bank account