York Shire, United Kingdom (PressExposure) March 21, 2009 -- Same day loans relieve the borrowers during temporary financial crunch. With the help of these loans, the borrowers can meet their small and urgent cash requirements with ease. The name suggests that these loans provide short term financial assistance on the same day of applying. Therefore, with these loans, borrowers can easily fix small problems in the mid of month or before upcoming payday.
People tagged with bad credit score such as arrears, defaults, bankruptcy, CCJs, IVA and late payments can easily acquire these loans to overcome their needs and requirements. Both the borrowers belonging to good or bad credit score enjoy same terms and condition without any discrimination. This is because no credit check formality is done. Not only this, these loans do not require any sort of collateral against the loan amount.
Same day loans are small and short financial provision which considers unexpected or unplanned expenses of the borrowers. The loan amount availed under this category of loan ranges from Â£100 to Â£1500. The repayment term is kept short as it varies from 2-4 weeks. For availing these loans, borrowers have to spend little more from their pocket as rate of interest charged on same day loans are relatively higher than other traditional loans. The amount availed can be used for varied purposes. Same day loans can entail various small and urgent expenses that arise unexpectedly such as borrowers can pay off electricity bills, medical fee, credit card bills, monthly installment, ca repair and monthly rent.
In order to avail these loans, the borrowers must fulfill certain perquisite conditions such as:
* Borrower's minimum age must be18 years * Must have at least 3 months active bank account * Borrower's must have earnings on regular basis * Citizenship of the UK
After meeting these requirements, the lenders transfer the loan amount directly into the borrowers account through electronic transfer. To save borrower's time and effort, same day loans are made available through online source. Online mode is the best and cheapest way to acquire the loan when compared with traditional mode.