The payday loan is type of financial service with short term period of borrowing. It has several options because it's dedicated to specific type of customers.
The payday loan could be used for different type needs and for this reason there are several specific features that people can need to use.
Of course like any time of loan, this one has to be repaid on time.
In the United Kingdom payday loans are also known as “get a loan until your payday”. This type of lending is part of a rapidly growing industry. A recent survey shows an increase of up to six times of the borrowers in 2013 when compared to those in 2006. Another interesting fact is that in 2009, 1.2 million people in UK took 4.1 million loans.
The total lending amount reached £1.2 billion. The fact that borrowers use the services of payday lenders multiple times in a given year can’t be left unnoticed. In most cases the average loan size is around £300 while two-thirds of the borrowers have an annual income below £25,000.
By law, lenders are required to provide the effective annual percentage rate (APR). This percentage rate is the interest that a borrower needs to pay on the top of the amount that was borrowed. 24Getmoney.co.uk gives you the opportunity to browse with ease the APR rates and quick loan conditions of many payday lenders. Our site saves you valuable time and you can conveniently compare offers. You always need to shop around and find a deal for you. In our opinion, you should never stop on the first ad that you see. It is a simple principle which will most likely save you your hard earned money.
Use 24Getmoney.co.uk to better understand the different payday and fast loans that are available. If you need immediate financial assistance in the form of one of the above mentioned loans, always try to obtain all the information that you need before making a decision.