When some urgent payment has to be made, it pinches the most to not to have the required money at hand. But it, in fact, happens frequently with the salaried people. They tend to spend away the salary cheque well before the next one. However, they also have the option of taking out unsecured cash loans. At the same time one must admit that these are costly loans for the salaried people, and should be availed with cautions.
You do not have to provide anything for security in borrowing the money. A feature of the loan is that its approval comes instantly, without many enquiries. The applicant can receive the money in his or her bank account within 24 hours. However, you must be a salaried person, with a job in hand for past six months at least. You must also be 18 years of age or above, having a valid bank checking account to your name.
The loan amount ranges from £100 to £1500, depending on your monthly salary. You can either repay the amount at the time of your salary cheque, or you can rollover the loan for a few more weeks. Initially, the loan is given for 14 days, until your next paycheque.
However, you should be well prepared to fork out a very high interest payment. A typical interest rate on the loan may be 30 percent for merely two weeks, after which the rate goes further higher once you choose to extend the repayment. Hence, borrow the money only when your next salary permits it. Keep your other expenses also in mind.
Still, it is possible to take unsecured cash loans at competitive rates. To avail such a loan, you should compare plenty of such offers on internet. Some of these offers may be of lower rates, with some conditions attached to it. Do not forget to repay the loan at the first opportunity.