subject: Cheque Book Payday Loans Instant Cash Against Your Cheque Book [print this page] A person may face a situation in his/her life where he/she is in urgent need of cash to satisfy certain wants. In such situations, going for any loan is a good option but what about those persons who do not have any thing to pledge to the lender to get loan. They are left with two options. Either their loan application is rejected or they get a loan at a very high rate of interest. Cheque book payday loans prove to be a boon for such persons.
Cheque book payday loans are secured loans in which the borrowers post dated cheque is kept as security. As these are secured loans so they enjoy all the merits of such loans. They have a very low rate of interest and are also approved instantly without much delay.
These loans are currently granted to the residents of UK only. Applicants are also asked to show their salary slips for past 3-6 months. It assures the lender that the borrower is not unemployed and is earning a regular income.
Like other short term loans these are also offered for a very short span of time. This may vary from 14-21 days as per the loan agreement. The amount granted on loan is also small. It may go from 200 to 1500. In some cases this amount may be increased or decreased. Another advantage of these loans is their immediate approval. They are approved within 24 hours. This helps the borrower in solving his/her financial problem in less time. The money borrowed through such loans may be used for various purposes as per the need of borrower.
Today there are various websites providing information about such loans. They also show the comparisons of the rate of interest charged by various lenders. this makes the whole loan process very easy and convenient for the borrower.
by: Malvin Flec
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