Instant cash loans are short term fast cash advances that you can use in time of small emergencies. There are those times, especially in the middle of the month, when you have run out of cash but have to refill your resources. This is when this loan can save you and provide you the money instantly. You can use it to pay off bills or to buy some necessary purchase or simply to help you maintain your expenses till your next paycheck.
Instant cash loans are convenient loans for multiple reasons. Their fast approval makes them reliable during urgent cash needs. The fact that they are unsecured also adds to this fast service. Absence of collateral not only reduces the stress of arranging for one; time is also saved.
If not collateral, then what is the basis of approval? It is simple to be eligible for these loans. You only have to be in a position to meet the following standards:
o You should be 18 years old or above
o You should be currently employed
o Your monthly income should not be less than £1000
o You should have valid bank account with checque book facility. This account should be at least three months old.
Your credit status does not matter for these loans. No credit checking will be conducted.
Instant cash loans are available for an amount in the range of £100-£1500. They are meant to be repaid during a very short term. The tenure is generally set 14-31 days from the date of loan approval. You can request for rollovers but extending loan terms for short term fast cash advances cost extra fee. Try to repay on your first opportunity and don't let it snowball as it could prove costly for you.
Instant cash loans are feasible way of borrowing as they are easily approved and speedily granted. But they are charged high interest rates so use them only when your need is dire and time is short. You can also search for cheaper rates by comparing the loan quotes of different lenders. If you want to perform a quick, cost-free comparison, you can apply to online lenders.