Payday Bank are known for their instant decisions on whether they will provide you with a loan or not, their online application procedure is one of the quickest around, they ask simple questions and couldn’t more simpler to secure a loan. Furthermore it should be noted that Payday Bank operate wholly online, therefore this is why their online website is suited to suit the needs for those who are in need for a quick loan without any major hassle and time delay.
Fast loans from Payday Bank
Typically Payday Bank charge £25 for every £100 borrowed, so you can see that they are not majorly expensive and they operate with a 2689% typical APR. Compared to other companies, this APR rate is very competitive, especially for those who are not looking to borrow huge amounts of money. Therefore in an emergency, this company is suited to be able to provide you with the loan without much APR being charged. Additionally, Payday Bank only offer loans between £80 to £750 therefore these amounts ensure that any potential customer will not be placed under a huge burden, in conjunction with Payday Bank’s APR rate, they appear to be a safe haven for people who are in need for quick cash.
Review of Payday lender Payday bank
An advantage of taking a loan out with Payday Bank is that they allow you to “rollover” twice; therefore if you can’t pay the money borrowed back you have two chances to rollover the balance, which in time scale terms is 3 months. Also Payday Bank is able to BACS transfer the loan to your bank account with no charge, but this may take anytime up to 3 working days. Same day transfers are highly feasible, but it will usually depend on which bank account you are with.
However, it should be noted that credit checks will be in place, but again this is not the sole determining consideration that is to occur, so even if you have a bad credit rating it is still likely that you are able to secure a loan. But in relation towards eligibility customers are usually required to earn at least £750 a month, so you are not required to be employed but you must be able to prove that you can pay the loan. Also you are required to be a holder of a debit card in order to pay back the loan. Compare Payday Bank with other payday lenders on our loan comparison guide.