Urgency has to be met instantly. And, you must get the monetary help without delay. Instead of running to your friends for a delayed help, it would be better if you take a loan against the very salary cheque you draw each month. In other words, you have the option of taking out a payday loan. This is especially meant for salaried people in order to provide them a loan for urgency.



The main advantage is that the lenders approve the loan application instantly, just on verifying that the borrower is a salaried employee of past six months at least. Once it is done, the lenders electronically deposit the loan amount within 24 hours in your bank account. Clearly, you can pay off any urgent bill the same day.

Under payday loans, you can borrow £100 to £1500 as per your monthly salary. You will get the loan against your next paycheqe for two weeks, implying that you will repay the loan at the time of getting next month’s salary.

For bad credit history borrowers these are perhaps the easiest to avail. Lenders approve them a loan without any credit checks. This implies that these loans can also be used as a tool for improving the credit score in short period on timely repaying it.

But be prepared to pay very high fee of the lenders on payday loans. Being unsecured one and of short period, the lenders tend to charge high fee on each £100 borrowed. Therefore, go for the loan only to meet an urgent expense.

One way to find suitable payday loans is to compare different online lenders for a lower fee. These lenders have displayed their fees on their websites. Though you have the option of extending the loan for a month, but avoid it as in involves further hiked fees of the lenders. You must have a bank checking account before applying for the loan.