Payday loans are short-term loans that are unsecured. These loans need to be repaid within one month usually. But, certain loan companies also offer an option to repay them between one and 12 months. Thus, giving borrowers a flexible option to choose what seems feasible to them and pay accordingly. Some money lenders also give an option of choosing what amount would be suitable based on the other expenses and commitments that the borrower may have. Thus, these loans are known to be extremely flexible.
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However, you need to keep in mind that with interest and other fees, these loans tend to be a bit more expensive than the other loans. So, you need to consider your financial situation carefully before taking this loan. Most people take such loans when there’s an unforeseen expense like a huge car repair bill or some medical bill. It may become difficult to incorporate this expense for some people and hence, they are forced to borrow some money from family and friends or then take a loan.
Pounds to Pocket is one such money lender that offer loans to such people in need of money urgently. The best part about them is that once your loan application is approved, the money will be credited into your preferred within 10 minutes. So, if you’re in need of money urgently, you can apply online at Pounds to Pocket.
Applying online at Pounds to Pocket is quite simple. All you need to do is fill up the application form that is available online via your laptop or PC or your mobile phone. Fill up the relevant information and submit the form. Once submitted, your form will be reviewed by the concerned team and once they approve your loan, the money will be credited into your account.
However, you need to fulfil a few requirements before you apply for the loan at Pounds to Pocket. You need to have a valid bank account. You need to be earning and receiving income through your employer or be self-employed. You need to be a resident of the UK. You need to be 18 years of age. If you meet all the above requirements, you can go ahead and apply for the loan.
You can apply for a loan of up to £2,000. You have the option of repaying the loan anytime between six and 12 months. Pounds to Pocket have no hidden charges. Whatever, you need to pay in terms of fees and interest will be informed to you beforehand. So, you know exactly what you’re paying for.
If you miss a payment, you’ll be charged £12 in terms of late fee per payment. However, they don’t have any annual fee, draw fee, early repayment fee, application fee or fast funding fee. In order, to repay your loan, you can select between two options, pay through your debit card or direct debit authorisation.
Since your payments will be scheduled, whatever your repayment amount is, it’ll directly be auto-withdrawn from your account on the pre-determined due date. Hence, if you choose this option, ensure to keep your account funded before the due date.