Same Day Payday Loan – Get the Cash on the Day of Applying

Sept. 25, 2014 - PRLog -- Some times we are faced with crisis where not only money matters but also time plays an important part. We can’t turn down the emergency due to our incapability of coping up with the situation. So lenders have introduced loans called same day payday loans which are granted on the very same day you apply i.e. simply in less than 24 hours.

As the very name implies they are payday loans. Money will be provided to you for a period of 10 to 20 days and you have to repay the amount on or before your next payday arrive. You can meet any type of your personal urgent need with the money. You can pay medical bills, an unpaid credit card bill or can go for weekend holiday trip.

Eligibility

As you need the money urgently so lenders have remove the process of evaluation of your credit status. Even bad credit holders also can get the cash easily. These are unsecured loans. So due to the risk involvement you have to be employed for the last six months and provide the company with your last three income statements. You have to have a personal checking account which is active for the last three months.

Important figures

Sameday pay day loans are short termed in nature. So an amount in between £100 - £1500 will be provided to you and you have to repay the amount before your next payday arrives. Annual percentage rate or APR involved is quite high and varies in the range 10% to 25%. Money will be deposited in your account electronically and at the time of repayment also it will be deducted automatically from your account through the post cheque provided by you to lender.

Procedures to attain these loans

You have to meet certain criteria to be eligible to apply for. You have to be a legal UK citizen and have to have a regular source of income for the last six months at least. And if you fulfill those then go online to fulfill application form. The whole process has been made online to make it possible to transfer the amount to your account within 24 hours.

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