Sometimes, an urgent bill has to be paid off in the same day, while the money is not in hands. Such a situation, however, can be tackled through cash till payday, especially if you are a salaried person. But these loans also may result in forming of debts, if you do not adopt a careful approach.
You can borrow anywhere from £100 to £1500 for 14 days, until your next payday. However, you are eligible only when drawing a fixed monthly salary for past six months at least. They must also have in their name an active bank checking account. Usually, approval of the loan does not take much time and the loan amount is electronically deposited in the borrower's bank account within 24 hours.
Cash till payday is given without any credit checks or inquiries, implying that bad credit borrowers can also find the loan amount the same day even if they have multiple credit problems.
Usually, the loan is approved against a post-dated cheque of the loan amount and interest payment on it. On the due date, at the time of your next paycheque, the lender will submit the cheque in your bank account to get back the loan. However, on interest payment, you can rollover the loan for a month as well.
A disadvantage associated with these loans is that the lenders charge exorbitant interest on small borrowed amount for merely two weeks, with the interest rate going higher on extending the repayment for couple of weeks. Hence, ensure that you settle for a loan that comes at lower rate of interest.
You can find cash till payday on internet. Some of these offers may come at comparatively lower rate of interest. Ensure that you repay the loan on the due date, without extending it for escaping from debts