FAQs
Q. What is an emergency payday loan?
Ans. Basically, emergency payday loan is a short term financial service that is designed for people, who are in need of emergency cash. This loan take very less time for approval, as it does not involve credit check and other time consuming processes like collateral submission, verification and faxing. This loan is pledged against the paycheck of the borrower hence the borrower does not get much time to repay he loan amount.
Q. What are the basic requirements for getting emergency loans?
Ans. Basic requirements for getting emergency payday loans are:
- The borrower should have a regular source of income
- His or her monthly income should be at least ₤1000
- He or she should have a running bank account.
- The borrower should be a UK resident
- He or she should be at least 18 years old
Q. How long does an emergency payday loan take for approval?
Ans. You can expect a mail regarding the approval status within 4-5 hours of filling the loan application. If approved, the loan amount will be transferred in your bank account within 24 hours.
Q. How much can I borrow through these loans?
Ans. With these loans you can borrow up to ₤1000 but in every case the amount should be supported by your monthly income.
