Even the employed people often face financial problems because of different reasons like delayed salary, job switchover, leaves etc. The payday loans are designed to help the salaried people facing short- term financial crisis. The loan amount is repaid on the payday or through monthly installments due on payday. It is a low interest rate loan that can be availed at utmost ease with least formalities because the applicant’s credibility is trusted because of being in job.
The payday loans are being made available by the private direct lenders under different names like salary loan, payday advance loan, small loan, short-term cash advance loan, and payroll loan etc. the standard repayment period is 12 months; however, it depends upon your repaying capability.
The bad credit payday loans with no credit checks became more popular during the global financial crisis in 2007–2008 that delivered deep impact over the UK also. The ease in availing makes the bad credit payday loan the most sought after loan product. Even if you are not in job but going to join a job soon, still you are entitled to get it. As being the leading Govt. registered payday loan direct lenders for over the years, we grant the required amount in more than 95% cases. As the repayment is linked to salary account, so, we do not go for credit check.
According to a BBC report, more than 760,000 employed people applied for payday loans in 2016-1017; the average demand was for £300. It means that the people rely on payday loan if they need small cash help for the short period. According to the statistics made available in 2016 – 17, the UK payday loan industry valued around £220 million, while it was £2.5 billion in 2013. Both the statistics show that payday loans are trusted as being the best solution to manage the unexpected expenses. The 100% transparency in online process makes the borrowers confident of paying only the agreed amount. According to report shared online on 07 Nov 2017, 3 in 4 people applied for payday loan more than once in a year. Even if you still need to know the suitability of payday loan for your specific need, call our online customer support representatives.
Financial Conduct Authority (FCA) bounds the direct lenders to charge the fixed APR with a cap of 0.8%. FCA protects the borrowers from paying the double of debt amount. The authorization for private lending is mandatory; it strengthens the borrower’s trust in private direct lenders. The new lending norms limit the profitability of direct lenders; therefore, the direct lenders try to disburse maximum loans with competitive advantage.
Today, borrowers feel better secured than ever before. We are registered direct lenders; so, we follow all the govt. norms. Whatsoever you pay is disclosed by our experts at the very first quote and when you are dealing with OSMoney, you can be sure of paying nothing as unseen expense. We are committed to provide the cheapest payday loan without forcing you to compromise with your repaying comfort or money usage.
Although the complete deal with offer at OSMoney is transparent and easy to understand, still, we always encourage our customers to ask as many questions as they want to be satisfied. Our friendly support team is quick in responding to your queries with authority; it helps you decide fast for taking 6 months to 12 months payday loan from the trade leader – Online Super Money (OSM).