Are you looking for online loans? In a time when it seems like every other option for borrowing money is either too expensive or difficult to obtain, payday loans UK offer an easy and convenient way to get the cash you need. These short-term loans can be a lifesaver in a pinch, but it's important to understand how they work before you apply. Here's everything you need to know.
Types Of Online Loans Offered By Payday Loans UK
A payday loan is a short-term advance that is provided to a borrower against the money which the latter will receive from her or his next pay. In order words, it is more or less similar to the concept of cash loans. With so many things being done through online nowadays, there are also more and more people who need this type of online loans. Payday loans online have been gaining popularity since it offers many advantages over other types of loans such as:
Can be used for immediate needs and can be availed without much paperwork with soft credit score check requirement
You can borrow an amount that's within your means
You can choose your own repayment plan that's comfortable for you.
There are different types of online loans being offered by Payday Loans UK. Here are some of them:
1. Personal Loan
This type of payday loans online are unsecured, which means that you don't need to put up any collateral in order to qualify for it. The amount that you can borrow usually ranges from £50 to £5,000, and the repayment term would usually be 3 to 36 months.
2. Vehicle Loan
This type of payday loans online are secured, meaning that you need to put up an asset such as your car as collateral. The amount that you can borrow usually ranges from £50 to £5,000, and the repayment term would usually be 6 to 36 months. The APR and loan repayments will depend on poor or good credit history and you can repay the loan early as well.
3. Travelling Loan
This type of online loan is for people who need to finance their travel expenses. For this kind of loan, the applicants do not have to pledge any asset but still, credit checks are done at the initial stage in order to approve or reject the application form. Usually, it takes only 2 hours before transferring the funds into your bank account with a simple processing fee structure.
4. Startup Loans
Are you looking for some financial help in order to start your own business? If yes, then this type of online loan is perfect for you. At Payday Loans UK, we offer startup loans with different time durations so that you can easily get the funds required for starting your business. The amount that you can borrow usually ranges from £50 to £5000, and the repayment term would usually be 12 to 36 months.
5. Student Loans
These types of online loans are specially designed for students who want to pursue their higher studies but they lack financial resources for this purpose. This type of online loan is unsecured so no need to pledge your assets as collateral against the money received as student loans. The processing fee is also low as compared to other types of loans and these funds can easily be used for different kinds of educational expenses like tuition fees, books etc.
Why Choose Payday Loans UK For Online Loans?
There are many reasons why people might choose to take out payday loans online from us. Perhaps you need money urgently for an emergency expense, or may not have access to traditional forms of credit. Whatever the reason, payday loans online can be a convenient and easy way to get the money you need quickly.
We offer fast, easy and confidential online loans to our customers, and we have a reputation for providing excellent customer service.
1. Fast Application
The whole application process takes place online, starting with the title which you use to describe your requirements. Then you have to fill out a few simple forms with requested information and documents that will need to be emailed over before the request is processed.
The best part about this is that all of it can usually be done free from home or work. It's also quick! Once you hit submit, the money can often arrive 48 hours later after approval.
2. Confidential and Secure
We understand that many people feel uncomfortable about applying for loans online. That's why we take pride in our commitment to providing a confidential and secure service. We will never share your personal details with any third party, including your employer or family members.
3. Quick Decision Making
The people working the payday loans online desk are usually highly trained to blend efficiency with discretion. The goal is to provide you with a great service, which is why they make their decisions quickly and without too much ado, so that you can get your online loans as swiftly as possible.
4. Short Term Loans
Most payday loans online are designed for short term solutions, meaning that it won't take long before you're back on your feet again. Of course this still depends of what you need them for but in general, we will provide help until an agreed date about two weeks after application where possible. This makes more efficient use of resources than traditional loans or credit cards.
5. Soft Credit Check
The beauty about payday loans online is that, as the name suggests, that there is only soft credit check. This is great news for those who may have had some money troubles in the past and can't quite seem to shake off their poor credit history. It also makes it much easier to get a hold of emergency cash when you need it most!
6. Debt Consolidation Loan
One way to use your payday loan effectively is by consolidating all of your smaller debts into one larger sum, which can then be repaid over a longer period of time at a lower interest rate. This can be especially helpful if you're currently in debt with several companies or have multiple mobile contracts that are being charged at a higher rate than your usual credit card. Also, we are authorised by FCA (financial conduct authority) and added on financial services register.
7. Make Your Money Work Harder
It can be very easy to turn to payday loans online in times of need, which is why it's important not to use them too often, if only for the sake of keeping yourself accountable. However they are also great when you want them to work hard for you.
Let's say for example you don't have any savings built up and would like some extra spending money but will need more later on down the road? A payday loan can help keep your emergency funds safe by using it for day-to-day expenses then paying it back two weeks later.
With a little help from Payday Loans UK, you could be on your way to securing the funds you need for whatever life throws at you. The online loans are an easy way to get money when you need it most. The application process is fast and secure, so there's no reason not to take advantage of the convenience we offer. Don't delay and contact us today