Quick Cash Loans - Instant Solution to Urgent Monetary Needs

By: Michal John

Are you in urgent need of cash? Well, whatever are your personal circumstances you can get a quick cash loan. And you do not have to worry for providing any security to the lender. The very paycheqe you get each month gives you quick cash. The main attraction and feature of quick cash loans is that lenders approved it instantly within hour. Such instant approval enables lenders to electronically transfer the loan amount in the borrower's bank account within 24 hours. Obviously you can pay urgent medical bills or any expense the same day of applying for the loan.

Quick cash loan ensures you a loan anywhere from ?100 to ?1500. Lender determines the loan amount on what you draw per month as salary. This is because the loan is given against your next paycheque. The lender may take from the borrower a post dated cheque that includes borrowed amount and lender's fee. Otherwise the loan involves no collateral. Main basis of providing the loan is that you must be a salaried person who gets monthly fixed salary.

You are supposed to repay when you get next paycheque as the lender approves the loan for two weeks only. However on paying lender's fee you have the option of extending the loan for couple of weeks. But extending loan results in making the loan highly costly for the borrower and so it is not usually advised.

Quick cash loans are provided without any credit check, which means that bad credit borrowers having late payments, payment defaults or CCJs are given the cash loan instantly without credit enquiries. The loan also improves credit score as you clear it in time.

A disadvantage of quick cash loans is its high cost. Lenders charge high fee on the loan. They charge fee on every 100 borrowed which means the borrower has to fork out high amount of fees in just few weeks. And on extending the loan, lenders further enhance the fees. However there are lenders who have a comparatively lower fee. You can find such lenders on shopping for the loan on internet.

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