Cash Till Payday Loan in the UK

By: Ryan Arsendatama

Cash till payday loan UK is a small loan which is given to a borrower for a few weeks. They are known as payday loans as they are usually repaid on salary day. Payday loans are also known by other names like a cash advance loan, check advance loan, post-dated check loan or deferred deposit check loan.

Along with the advancement of technology, payday loan lenders have gone online to provide electronic facility to allow people to submit their loan application via the Internet. This facility cuts short a lot of hassles and importantly increases the approval turnaround so customers can get the loan money in 24 hours.

How to Apply For a Payday Loan

The first step towards applying for cash till payday loan UK is to select the lender you wish to use. This you can do by comparing different interest rates and amounts which can be loaned. Select the company that can lend you the highest amount for the lowest interest rate.

The next step is filling the online application form. These forms have to be filled in accurately with the right information to get you fast approval. Do not lie about your job or income as this is easy to crosscheck for the lenders. If you are found out you could face severe embarrassment.

Some of the information you would have to provide are:

- Details of your source of income, your monthly salary and the company you work for. You will also have to prove you have a full time job and have been holding it for some time.

- Personal details like your full name, home address, age and social security number. Contact information like phone number and email address should always be mentioned.

- Bank Details like your bank account number, bank branch, city and other bank details. This is to ensure funds are deposited and withdrawn in time through electronic bank transfer facility.

Approval within Hours

Payday loan lenders can approve your loan within a few hours as all they need to do is verify that the information you submitted was correct. There is no credit check as the loan is for a short duration. The companies will then call you with loan approval details like the interest, amount approved and other repayment details.

Some lending companies need you to write a personal check with the amount you wish to borrow plus a fee. A few lenders may also ask you to fax them proof of your identity and salary you are currently getting. Very soon, the funds will be transferred to your bank account.

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