subject: Cash Till Payday: A Boon For The Salaried People [print this page] Everyone knows that valuable possessions like a home or a piece of land is used as a pledge when a person applies for finance in the secured variant. It is good to know that paychecks for the next month are treated as security in a form of loans which is cash till payday. Cash till payday is for the benefit of the salaried people in United Kingdom. People, who have a fixed earning in every month, may face necessity of immediate cash, sometimes. They are to arrange for the payment of a medical bill or things like this.
Cash till payday is more like a short term loan and a short loan. The loan-seeker can avail an amount between 100 and 1000. The repayment period is just within two to four weeks, but the rates of interest are relatively high. The salaried people availing of this kind of loan are escaped from acute financial crisis surfaced in the middle of the month. It should be borne in mind that the borrower must clear the loan amount within the promised period.
The loan-seekers applying for cash till payday get some advantages. First, in cash till payday, credit report of the borrower is not checked. Therefore, people whose credit score is less than 580 as per FICO are eligible for this kind of loan program. Second, the borrower can submit his loan application online. The process for online submission is easy and time-saving. It should be noted that the applicant can maintain his privacy regarding debts. Third, the lender does not require the documents containing the personal details of the applicant to be faxed to him by the borrower. Fourth, payment is made as fast as possible. The lender verifies the loan application and approves it if it is all right. He instantly sends the loan amount to the savings account of the applicant.
This is why the loan-seeker must have checking account. There are some other conditions which he must fulfill to be entitled for cash till payday. He must be a citizen of England. He must be at least 18 years old. Another important thing is that his monthly income must be at least 1000 and he must submit documents in support of his present employment.
