People, who are employed, depend greatly on their monthly income to sustain themselves through the month
. But certain financial emergencies come without prior notice. In order to fulfill these needs the borrower applies for 3 month payday loans. These grant easy credit to the borrower in times of need.
These advances are granted for a short period of time, in this case for 90 days. The borrower can get credit to satisfy all his financial emergencies. The amount that he is allowed ranges from 80- 1500 for a maximum period of 90 days. This limit for satisfying critical needs is quite sufficient. At the same time the period for which the borrowed amount can be put to use is also reasonable.
3 month payday loans do not require compulsory credit checks. Thus people who have defaulted in paying previous loans can also apply for financial aid. Thus a good as well as a bad creditor gets an access to the advance due to the absence of credit check.
Before granting monetary aid, the lender of the credit must be certain that the borrower will repay the credit when the repayment period ends. To convince himself of this he checks the employment standing and credibility of the borrower.
3 month payday loans are advances granted for a maximum period of 90 days. Thus the interest rates charged are high. If the borrower does not repay this credit in time, he is charged a fine.
Eligibility criteria are as follows:
The borrower must be a citizen of UK.
The borrower should be above 18 years of age.
The borrower must have a stable job.
The borrower should earn at least 1000.
The borrower must have an active bank account.
The borrower should also submit his residential proof of his home.