Quick Loans
How Much Do You Need?
- Same-day funding
- Loans available up to £5,000
- No late, hidden fees
- Bad credits considered
Representative example: Borrowing: £1,200 Interest: 0.34% per day for up to 75 days (124% per annum, variable) Representative: 49.7% APR (variable).
What Are Quick Loans?
Quick loans are very different from the traditional loans that one can get from typical banks or financial institutions in that most of them require very minimal documentation, as the lending process only involves simple registration and verification before they are paid off to the borrower almost instantly. In fact, these instant loans tend to be carried out through online platforms, instead of applicants having to always look for ‘loans near me’.
In terms of funding, they are generally short-term fast loans for amounts under £5000, with their repayment period, plus interest, set between one to six months on average. However, depending on the lender, they can even be flexible for up to a year. This makes them ideally suited for those in need of quick cash to deal with unexpected emergencies, like home maintenance costs, car repairs, urgent medical or veterinary expenses, etc.
However, since these fast loans are small in nature, there are often a wide variety of easy loan lenders available to choose from. And considering how each one of them comes with its own terms and conditions, this can sometimes make it difficult to pinpoint the right quickloan lender that is best suited to your financial situation.
Different Types of Quick Loans
Payday loans
Payday loans are a type of quick loan that is usually offered by even high street lenders and as such are relatively easy to obtain. However, they often come with very high-interest rates and unlike other types of quick easy loans, the entire loan amount, including interest, will usually need to be paid in one lump sum, once the borrower’s “payday” arrives.
And in most cases, the lender will usually take out the amount from the borrower’s bank account through the use of a continuous payment authority.
Small loans
Small loans are essentially quickloans that are borrowed from a direct lender in small sums, as compared to what most people would traditionally borrow. In most cases, the maximum amount borrowed will not exceed more than a hundred pounds in total and as such, they are most suited to providing borrowers with aid, when an unexpected expense pops up for small things, like utility bills, groceries, personal purchases, etc.
The benefit of these types of quick loans is that they can be easily customised to suit your requirements; which means you can decide just how much you want to borrow and what sort of repayment plan would be best suited for you.
Instalment loans
These are generally quick easy loans lent over a period of three to twelve months with fixed monthly repayments. However, depending on the lender they can also be extremely flexible, as borrowers can make repayments weekly, fortnightly, or monthly, based on their unique set of circumstances.
Plus, the advantage of instalment loans is that you will usually be able to get approved for even higher loan amounts than with most other types of fast loans like payday loans.
Title loans
A title loan is a quick loan that requires borrowers to put up their vehicle title, which is used as collateral, in case they are unable to repay the loan. And usually, the amount of money you are able to borrow will depend on the value of the vehicle. However, if you are unable to repay the loan, the lender can seize the vehicle and sell it to recoup their loss.
And while this type of loan can get you a sizable sum of money, it does tend to come with a higher amount of risk than the rest. It is for this reason that you should always be careful, as taking on a title loan may not always be worth the short-term cash you receive.
Access Different Types of Quick Loans Now
What Are the Benefits of Quick Loans?
Applying for a quick loan offers borrowers a ton of benefits, especially when you need an instant cash influx cash to cover an emergency. For one, the biggest advantage of quick loans is they can be easily applied for online, as all you need is a phone or laptop to submit the online application, which means there is less paperwork involved. The lender will then review your request in a matter of hours and once approved the money will be automatically transferred to your account by end of the day.
Another advantage of quick loans is that they also don’t require you to put up any collateral or even have a good credit score to be approved. And while a solid credit record can help your chances, you can still apply for an easy loan with little to no credit, as long as you have a steady job and income. Also, the advantage of a quick pay loan is that some lenders may even be willing to offer you flexible repayment options, like the option of setting the amount you want to pay each period or even choosing how many repayments you would like to make to pay off your debt.
Do I Qualify for Quick Loans?
If you are worried that your credit score will affect your eligibility to qualify for a credit score, then you can rest assured that this in itself will not stop you from being approved for one, even though it’s no secret that having a good credit score will often help you to access higher loan limits, as well as lower interest rates.
However, regardless of the amount you need, there are still a few eligibility criteria that must always be taken into consideration for anyone applying for quick loans. Luckily, the requirements are often pretty simple and straightforward, as all you need is to show proof that you:
- Are a UK resident;
- Are at least 18 years of age;
- ave a regular income source;
- Have an active bank account and a valid debit card
As long as you meet all of the above criteria, you should be able to qualify for a quick loan from most lenders without much difficulty.
How Do I Get a Quick Loan in the UK?
It can often be a frustrating experience when you urgently need money quickly but are limited in the range of choices available to you. This is especially stressful when most banks require you to have a good credit score, in order to give approval. Luckily, there is now a large number of UK credit lenders that offer quick loans to borrowers and with much less stringent requirements, compared to most other financial institutions.
In this respect, the best way to secure yourself a quick loan in the UK is by using our online broker service, which offers a seamless process of finding quick loans UK lenders with excellent credit flexibility, good reputation, as well as funding speed so that you don’t have to waste time looking for them yourself. However, you should always keep in mind that every easy loan provider comes with its own terms and conditions that vary from the rest, so make sure to consider each one wisely before submitting an application for a quick loan.
Why Should You Use PaydayLoansUK to Apply for Quick Loans Today?
Here at PaydayLoansUK, we aim to make it easy for anyone to apply for a quick loan and get the money that they need as fast as possible. It doesn’t matter if you have good or bad credit scores, as with our service, we work to ensure that you are able to browse and find the right quick loans lender that will offer you ideal borrowing terms that are best suited to your situation. In fact, the main benefit of using us as a credit broker is that our system will automatically eliminate any lenders whose requirements are not best suited for your details.
This way, you don’t have to waste time searching through hundreds of potential providers and can quickly pinpoint the right lender for you that also offers the best terms. At this point, you can quickly enter into a loan agreement with them, and after they cross-check and verify your information, they will approve your application. In most cases, you can also expect to see the funds deposited directly to your account within the same day.
FAQs
How can I borrow money instantly?
PaydayLoansUK is a credit broker that allows you to easily find legitimate credit lenders that you can borrow quick loans from after filling out the necessary application that usually takes just a few minutes to complete. If you are approved, you will receive the cash amount in your bank account within an hour, all without having to show a perfect credit score or having to submit endless forms with your easy loan application. This makes it a great solution should you need to deal with an emergency expense and need a cash influx as soon as possible.
What is the easiest online loan to get?
Quick loans are the easiest online loans to secure, purely because you can take one without necessarily having a good credit score, guarantor, or any collateral for that matter. Moreover, anyone can apply for one, as long as they are above age and have a steady income source. Plus, the credit approval process is almost instant, as you will often get your loan deposited in your account within the same day, if not within the hour. And there are no extra fees that are needed to apply for one either!
How can I get a quick loan online?
You can easily apply for a quick loan through our online credit broker service, which allows you to browse through all the local easy loan UK lenders, review the ones that offer the terms best suited to your financial situation and then send out an application to the lender directly. Once your application is reviewed and approved, you will then receive your money almost instantly. It’s as easy as ABC!
What is the maximum I can borrow?
We can help you get access to some of the best fast loan lenders in the UK, with the minimum amount that you can borrow set at £100 and the maximum amount being £5000, without having to deal with any unnecessary hidden charges. However, it is always important that you make sure to check the lender’s terms and conditions before you agree to and finalise your quick loan application.
Should I apply for quick loans?
Absolutely. If you find yourself short on cash and in need of financial aid to cover an urgent expense, like a broken-down boiler in the winter, sudden car breakdown, or an unexpected medical bill, and are in dire need of access to quick cash, quick loans can be depended on since they don’t require you to fill out numerous application forms, don’t need you to put up collateral and can be secured even with a poor credit score, making them the perfect alternative to traditional bank loans.
Can I get a quick loan with bad credit?
Yes, you can. However, it is important that you first realize that while some lenders may claim that they can offer loans without credit checks, that is often misleading because UK lenders are required by the FCA (Financial Conduct Authority) to carry out credit checks on all applications. So, even if you have a bad credit history, you can still apply and be accepted for a quick loan, because while some lenders may use your credit score to decide whether to lend you money or not, other lenders will also take into consideration other criteria like your employment status, when reviewing your application.
Apply for a Quick Loan Today and Get Cash Now!
There are times when an unexpected emergency happens, and you may not be in a position to go through lengthy loan procedures or even sit around waiting for a slow cash pay-out. Luckily, the benefit of applying for a quick loan is that if you act now, you can easily apply for and quickly receive an influx of cash today!
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