subject: Instant Unsecured Loans – Swift Way to Borrow Money [print this page] Instant Unsecured Loans Swift Way to Borrow Money
When needs pop up and we need an instant way out, waiting for some cash help from some friend or relative is not a wise decision. In such critical situations, we should act very fast. We can go for instant unsecured loans.
Instant unsecured loans are small cash loans which are offered to the needy persons of our country. The loan is generally of small amount. The loan amount may vary from 100 pounds to 1500 pounds. This loan amount is usually offered for a very short span of time. This time period may go from few days to few weeks.
Currently these loans are only offered to the people living permanently in UK. A person should have attained an age of 18 years before he or she may apply for such loans. He or she should be working somewhere earning not less than 1000 pounds each month. He or she should also have a valid bank account in any bank of UK. It is very important condition. It is this bank account which will be credited by the loan mount once it is approved.
These loans are offered without any collateral. It means that a borrower does not need to pledge any of his or her assets with the lender to get the money approved. It makes such loans very attractive for a person who is in need of money but do not have any asset to pledge.
Though it may look very alluring, but these loans have one demerit too. The rate of interest on such loans is generally higher than the normal rate being charged by other lenders. So these loans should be taken only when a person is really in need of money.
