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How to get an online payday loan

When you need a cash loan now, it's time to consider turning to a payday lender. Pay advances are available for up to £1,000, without the need to pass a credit check. Credit approval is guaranteed, even if you have a very poor credit history. You just need to meet some very basic eligibility criteria to be accepted.

How to qualify for a payday cash advance loans

Proof of citizenship In order to get cash now from a payday store, you'll need to be a UK citizen. Minimum age requirements You shouldn't apply unless you're at least 18-years-old. Employment requirements You'll need a full-time job that pays at least £1,000 per month. It doesn't matter if you're in your probationary period or are on a temporary contract because you're only been offered a short-term credit facility. You can prove your income with a copy of your pay slip or by producing a bank statement that displays the payment of your monthly wage. Bank account in your own name Online lenders are vigilant, especially when it comes to the prevention of fraud. Given that you're been offered credit on an unsecured basis, you're going to need to comply with several verification checks. Payment must be made to a bank account in your name, not that of a third party. They will not make a cash payment. Two forms of identification A payroll advance requires the provision of two forms of identification, one of which must be a form of photo I.D. Popular sources of I.D. include your passport, bank statement, driving licence or a utility bill. All forms of proof must be current.

Information about payroll advance loans

What's the cost of a fast cash advance? You should expect to pay up to 25% per month. For example, a loan for £1,000 will accrue £250 of interest in 30 days. Rates do vary between lenders so perform loan comparisons prior to signing the dotted line. How soon will the cash arrive? It depends on how early in the day your application is accepted. If you apply for a payday advance prior to 2.30 pm, you're likely to receive payment on the same business day. Regardless of your timing, you'll get the money within no more than 24 hours. When does the money have to be repaid? Most fast cash advance are for 30 days. If you pay off the interest at the end of the term, the agreement can be extended for another month. Talk to the lender if you experience difficulty making repayment.

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