To make ends meet the borrower will have to keep some money in reserve every month
. This is just a theoretical concept. With the increasing prices the borrower cannot keep aside a part of his income. To help him meet unexpected needs whenever they arise. The borrower can apply for short term cash loans.
These advances can be applied for any reason, such as to pay of outstanding bills and to meet other outstanding expenses.
The borrower gets the freedom to funds that can exceed 80 but should not be above 1,500. This amount can be availed only for a period of 30 days. Therefore, the borrower can fulfill all his immediate needs with the help of these funds.
As these advances are sanctioned quickly, the lender does not have the time to view any documents. Thus no documentation is required to be submitted. These loans also have an absence of credit check. This means that the borrower does not have to prove to the lender his financial soundness. Thus people with bad credit can also avail of fiscal assistance.
The applicant is charged a high interest rate and thus, it may prove to be costly at the time of repayment. Moreover, if there is a delay in repaying the advance or the interest, a penalty fee will be levied. Hence, the borrower should be aware of these conditions.
The Eligibility criteria for short term cash loans are as follows:
To avail these funds the applicant should be a UK citizen.
He must also be 18 years of age or more.
He must have a valid and active bank account in his own name.
He must give the lender proof of employment.
He must be employed for a minimum period of 6 months.