People who live on monthly salary have limited funds. These loans are designed for the people with job and immediate needs. These loans are approved in no time without any complex procedures. No credit check is done by the lenders before approving these loans.
As the name suggests, payday loans no faxing are easy loans. These loans are unsecured in nature. Borrowers take these loans for paying medical expenses, paying other repayments, etc. The loan amount is small and does not exceed from £1500.
The rate of interest varies from lender to lender. The interest rate is higher than the other loans of the market. A good shop around can help the borrowers to get cheap loan rates. The loan term is short for these loans. The term within which these loans should be repaid vary from 1 week to 4 weeks. If the borrowers cannot repay the loans within this time, the lenders can extend the loan term for few more weeks. The lenders charges extra for this loan term extension.
Payday loans no faxing is offered to the borrowers with fixed job. The minimum salary should be £1000. Some lenders may ask for minimum salary of £1200. The borrowers should possess bank account. The borrowers should have the repaying ability. People with low credit score are also eligible for these loans.
Payday loans no faxing is offered by the online lenders. Private lending companies also offer these loans. These loans are approved fast with minimal loan procedures. The loan procedures are simple and easy.
Source:http://www.bestsyndication.com/?q=node/23971
