The amount that can be drawn against this form of credit ranges from 80 to 1,500. Thus, they fulfill only small needs. They are advances that are approved within a few hours of the same day. However, before applying for the funds, the borrower should know that the repayment term for the advances range from 1 to 30 days.
The borrower intending to avail these advances should make a note of the fact that they may consist of some advantages or disadvantages. First and foremost, these funds are approved within 24 hours of the same day. Hence, they are benefited by a number of small savers. On the other hand, they can be availed by bad as well as good creditors. However, since these finances are offered to people without judging their creditworthiness they carry high interest rates.
The lender grants this form of fiscal assistance only to the people who fulfill the following conditions:
It is important for the applicant to be a UK resident and attain citizenship of the UK.
He should also be an adult.
He must also maintain a bank account for at least 3 months.
Lastly, since these funds are given on the basis of repayment ability, the applicant must be an employee with a regular income.
With the growing use of the net, these finances can be availed easily online. They help the applicant to get an access to the funds instantly. Hence, they save time and effort.