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Short term loans are exactly as their name suggests. Loans that have a very limited term, and therefore a higher rate of interest. Another factor in the higher interest rate for these financial products, is the fact that there is no credit check required to get the loan. The actual qualifications are very few in most cases and the loan is generally based solely on the amount of ones income. These loans take on other names also, such as cash advances, payday loans, paycheck advances and so on.
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loans are a link between pay day periods. They are designed to help you through tough financial times. These loans can cause trouble if you borrow more than you can afford to repay. Always borrow responsibly!
- You must be a U.K. Resident
- You must earn £750 per month
- You must have a valid banking account and debit card
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