Have you ever thought that having a cheque book would facilitate you to get immediate fiscal help
? Yes! This is entirely true. If you have a cheque book of your own saving account, then you can apply for cheque book loans that are fast and simple way to get the cash. The lenders of these loans will certainly aid you get quick money with the help of your cheque book only.
There is no requirement of collateral because your cheque plays a very important role for you. These loans are given to you at the basis of your cheque book. Lenders consider your cheque book as the security and allow the loan.
Under this monetary facility, borrowers can obtain amount ranging from 50 to 1500. This monetary option is designed for short-term purpose and you have to repay the loan at you next payday. For this you have to give a post-dated cheque at the name of the lender and at your payday the amount that is borrowed gets deducted from your bank account automatically.
Due to the short-term nature of cheque book loans, lenders charge higher interest rates. However, you can negotiate the interest rate at the basis of your good credit score.
There are some eligibility criteria that you have to fulfil for the approval and the conditions are as follows:
The borrower must be permanent citizen of the UK.
He must have the legal age of 18 years old or above.
The borrower should hold a good monthly income
He must be the owner of an active bank account and also a cheque book.
There is no credit checking procedure perform in the loan and so, people with poor credit history or imperfect credit status like CCJ, IVA, arrears, default etc. can also apply for this credit option.
It is very easy and fast in approval if you apply through online medium. Lenders provide the procedure free from paper work and faxing of document that is surely good news for the potential borrowers.