The problem with an unbudgeted expense is we are not at all prepared to handle it. They can arise in many forms say for example there is suddenly an emergency medical attention required or we have to clear bills like telephone bills or electricity bills failing which we may be penalized on the stipulated date. These are some situations, which often haunt us if we are not financially prepared. Well with the availability of same day cash loans these situations have not remained problematic. Same day cash loans are loans involving small amount disbursed for smaller period, which can be availed within 24 hours of application. These loans have gained sufficient popularity in recent times in the UK loaning market.
Same Day Cash Loans: Information & Availability
Internet seems to be the best medium to either get informed or obtain these loans. A fierce competition among the lenders have forced them to provide online loaning facilities. You can simply fill an application form quoting your requirements and potential to repay. The lenders will come back to you with their offers. It is suggested here that you try different lenders to acquaint yourself with the variety available in the market. This is the most convenient method and is economical too as it saves your time as well as some money. Howevere you can always visit the high street bankers, financial institutions and lenders but it is usually avoided. Same day cash loans are available to good or poor credit scorer or no creditors without any significant discrimination So you need not worry if you are a poor creditor i.e. having CCJ’s , arrears ,payment defaults or bankruptcy filed against you, then also you will get these loans quite easily.
Same Day Cash Loans: Features
The amount available under this loaning scheme is small and is around £1000. The interest rate lies between 9% APR to 20% APR. An APR includes interest rate, processing fee and other liens. The interest rate is kept high because of following reasons:
· The loan is very short termed in nature so effectively you don’t have to shell too much as interest.
· The loan is provided very swiftly within 24 hours .So its urgent availability makes the rate go higher.
· The loan is unsecured in format so no security is necessitated.
The repayment period is from 15 to 30 days. A post dated check equaling the total amount is taken from you at the time of providing the loan. The lenders are legally eligible to withdraw the check in case of non-payments. However keeping up with your repayments help you better your credit score, which proves helpful in obtaining further loans.
Thus concluding, same day cash loans are the perfect antidote for all the unanticipated financial expenses driven out of uncalled situation. These loans are hassle free to obtain. But it is advised not to develop a taste for it and go for it when genuine expenses demand attention.