By Olivia Maaret
For those urgent and unforeseen needs that come our way anytime or anywhere, there are special loans that can help us. Instead, this is the perfect source that you can use to help you in times of small cash problems. It is called a small cash loan. To have more knowledge on small cash loan, let us discuss it in detail.
A small cash loan can be availed to fulfill any needs like grocery bills, car breakdown, gas bills, window repair, urgent travel expenses etc. Any such needs can be taken care of using small cash loan.
A small cash loan is a very short term, unsecured loan that is given for duration of 14 -31 days. The loan amount can range from ₤100-₤1500 depending upon the repayment ability of the borrower. The rate of interest is slightly higher than the other loans available in the market due to its short term nature. The loan is approved and the money is transferred in the borrower’s account in 24 hours.
As there is no credit check involved in the small cash loan, there are some pre-requisites to qualify for small cash loan like:
- Regular employment
- A running bank account
- Age of over 18 years
- Residential proof
Repayment of small cash loan is very easy. The repayment date for the small cash loan usually coincides with the next salary day. On the due date, the principal plus the interest is automatically deducted from the account of the borrower. If the borrower is not in a position to repay, he can roll over the small cash loan for another term.
Online search for a small cash loan is highly beneficial. The rates of interest that are offered by the numerous lenders that are available online can be compared. Due to stiff competition, the lenders cut down their rates and this helps the borrower.
Small cash loan is available to all the borrowers who have a source of regular earning. It can help them in the times when their salary falls short of fulfilling their urgent need which cannot be delayed till the next payday.
Small cash loan is a very short term, unsecured loan that is helpful in providing for the unexpected needs that require immediate attention. To know more about small cash loan, read the complete article.
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