Comparative loan rates study reflects that when a person borrows with a quick cash lender he tends to pay more interest rate. It is often seen to be 10% as against 8% of the regular loans. But, you can't over look the benefits of borrowing on instant fund option. You get the money when you desire it the most.
There are no preconditions of clean credit standing or a non bankruptcy or non CCJ borrower. All candidates can apply, whether he is facing bankruptcy, CCJs, IVA or not. People with County Court Judgement are not looked down upon and rejected on grounds on bad credit standing. Hence, these are popular as it does not hold any major conditions unlike the other forms of borrowing.
You are not bound by any collateral pledging. There may not be any fear of losing it when you default on the payments on time. There may be a penalty for not paying on time and associated interest rate will be on a higher side. Lenders are taking a lot of risk in lending funds to you hence it is likely to have higher interest rate.
Short term funds will be paid back on the day of cheque payment paid out to you that is on your salary day. You can borrow at ease and pay back when you get your next cheque. No long waits, nor paper work, you can access the amount approved to you the very next day. You get your cash deposited within 24 hours and you can access them with your ATM cards. Hence, there is a need to have a valid bank account, either current or savings and your money borrowed will be deposited to the same.