Got an emergency and require cash instantly? Well, instant loans or payday loans are the best ones for you. It is even better and quick, if you apply for it online as the processing of your loan will take place within 15-20 minutes of submitting your application for payday loans. It is even quicker if you choose a trusted direct lender.
Wondering who is the right lender?
You must always look for options when it comes to choosing a lender. You might not be an expert and might even be confused about what kind of loan you should take. The right lender will give you right advice. LoanPig is one such lender who will provide you loans at a minimum possible interest rate.
They are authorized and regulated lenders and brokers by the FCA, which increases their trustworthiness. If you need a loan with the lowest possible late penalty fee from an online UK lender – LoanPig is the one. They ensure that you don’t pay more than double the amount you borrowed.
The application process for instant or payday loan:
For an instant loan, you can apply online on the website and borrow up to 1500 euros comfortably. All you have to do is provide information about the following:
- Date of birth (above 18 years of age)
- Employment details
- Bank details
- Credit score
- Details regarding income and expenses
To be eligible for a loan in the UK, you need to be:
- Over 18 years old
- A resident of the UK
- A full-time employee
What are payday loans?
It is an instant loan where you can borrow money over a short period and pay it back when you get your next paycheck. These are unsecured loans where your assets will not have anything to do with the loan you take. The APR% is calculated over a year while you borrow for a month, it might be higher than the others.
How much time will it take for an instant loan to process?
After the application is submitted, the lenders check if the information you have provided is genuine. If everything is right in place, they will process your amount within 15 minutes of submission. Then, it depends on your bank if they accept faster payments or not. If the documents you have submitted don’t seem genuine, it might take more time.
With an online process, the amount is transferred faster than an offline lender. They will provide you with an instant decision as their checks are automated. The only reason why your loan will be rejected is that you have a bad credit history for paying back the amount you want to borrow or your documents are counterfeit.
Some lenders like LoanPig even provide loans for people with bad credit.
Student payday loans and how much you can borrow?
The borrowing limit is not affected if you take instant loans. Even students need instant cash sometimes and they can also apply for a payday loan. It should only be used on a short-term basis.