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Sunday Payday Loans

Sunday payday loans

Even on a Sunday, payday loans can help to give you the money you desperately need. There are many reasons why you may not have enough money to cover you until your next payday. You may have to pay an unexpected bill or there may have been a delay with your work payment. Whatever the reason, payday loans are there to help you through.

What is a Sunday Payday Loan?

Payday loans are a lot different from standard personal loans. The main features of this type of loan you need to be aware of include:

•They need to be paid back on your next payday

•They typically offer anything from £50-£1,000

•You need a bank account 

•Some terms and conditions will apply

Don’t be put off by the high interest rate. Provided you pay the loan back on your next payday, you will only pay a very small amount of interest. Most payday lenders charge around £20 for every £100 that is borrowed. The high interest rates only become a concern if you start to rollover the loan for more than a month. So if you know you can definitely pay the loan back when you say you will, the interest will actually be very reasonable.

The amount you can borrow is less than a standard loan because of the time scale you need to pay it back. They are designed as a short term solution and there are many benefits of opting for a payday loan over standard loans. You will need a bank account to deposit the loan into. That is one of the only requirements a payday lender will insist on.

There are a few other requirements you will need to meet, but these vary between lenders. Standard terms and conditions include age and your employment status. You will need to be at least 18 years of age to benefit from a payday loan. Most prefer you to be in full time employment, though there are lenders who offer loans to those on benefits. The only group of people who sometimes struggle to get a payday loan are the self-employed. This is because they cannot always guarantee their income. However, that isn’t to say that self-employed people can’t get a payday loan – it just means it may be more difficult to find one. 

Main benefits – Sunday payday loans available! 

There are many reasons why people opt for Sunday payday loans. The top benefits include:

•They are available 24 hours, 7 days a week

•Easy to apply for

•Offered for any purpose

•No upfront fees

The fact they are available any day of the week is a major advantage. Sunday payday loans are particularly popular. You can receive the money you need straight into your bank, sometimes within an hour of applying for the loan. At the very latest the money will be deposited the next day. It will depend upon the lender, as well as which bank you are with. 

Perhaps the biggest attraction of a payday loan is that they are available even if you have bad credit. If you’ve fallen into financial difficulty in the past, a lot of lenders won’t even consider giving you the money you need. However, payday lenders don’t carry out any credit checks. They give you the money regardless of your financial past.

The easy online application process is also an advantage. It takes around two minutes to fill in a loan application. You will then receive the decision within a few minutes. There are no difficult questions and no documents need to be faxed over. It’s the simplest type of loan to apply for. You can apply for Sunday payday loans and receive a decision and the money in your bank within an hour.

There are very few questions to be answered when you’re choosing a payday loan. A personal loan lender will usually want to know why you need the money. Payday lenders don’t ask what you want to borrow the money for. All they ask is you pay it back on time. Whether you need money for home repairs, an emergency bill or simply for a holiday; a payday loan is there to help. 

The fact there are no upfront fees to pay is also a huge advantage. When you apply for a loan via a bank, they usually have all kinds of charges you have to pay before you get the money. The only thing you have to pay with a payday loan is the interest fee when the loan is paid back.  

Overall, Sunday payday loans have many benefits and uses. It’s important to only borrow an amount that you are confident you can pay back. While you can extend a payday loan, the high interest rates can soon have your spiralling into debt. Research the different companies on offer and see which ones have the best reputation.   

 

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APR Explained

Rates between 45.3% ARR to maximum 1575% APR

Representative 277.6% APR

Representative Example:

Amount of credit: £850 for 11 months at £146.30 per month.

Total repayment of £1,609.25. Interest: £759.25.

Interest rate: 150% pa (fixed). 277.6% APR Representative.

APR rates range from 45.3% APR to 1575% Max APR. Your APR rate will be based on your circumstances.

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