You don’t have to take out a large amount with the loan cost hanging over your head for months or even years. Substantial, long-term loans also take a while to process, making it impractical for your immediate financial need. When faced with an urgent expense, 100 loans could help cover the cost in no time.
What are 100 loans?
If you have an unexpected bill or urgent expenditure, you might only need £50 or £100. Just because it is a small amount, it doesn’t mean the need for it is less substantial. 100 loans can be a huge help.
100 loans are micro loans, which are also known as quick cash or fast loans. Small as they are, 100 loans can give you room to breathe when you’re in a tight spot. These loans are a cash advance type of credit that’s usually due to be settled within a short period, usually the borrower’s next paycheck. But, there are also lenders who allow a longer repayment period.
In the recent years, more and more people are seeking for quick cash that is hassle-free such as 100 loans. 100 loans are ideal because they’re designed to quickly provide small amounts of cash to those who need them as soon as possible. Many people prefer 100 loans over huge, long-term bank loans because they’re practical and easy to pay.
You may need to take out 100 loans to spend for groceries when you lack the funds or when the car is low on gas, and payday is still days away. 100 loans will get you covered for small, unforeseen expenses like a medical bill, urgent repairs, or just enough to fill in your pocket until payday
Although the amount is very small for 100 loans, make sure that you’re confident that you can make repayments on time before applying. Because of these loans are fast and hassle-free to obtain, they usually come with high interest rates than that of regular loans.
Since 100 loans are small in quantity, these loans are unsecured type of credit. You won’t need any collateral to obtain 100 loans. Most 100 loans are quite popular for those with poor or bad credit as well.
Where to get 100 loans?
Short-term lenders online usually offer small loans such as 100 loans. You’ll also find 100 loans offered by nonbank institutions, credit unions, and other independent creditors, but not with mainstream lenders. You can hardly find 100 loans in banks because banks usually ask you to borrow twice or even four times as much as you intend to borrow. Majority of banks have minimum loan amounts to borrow that far exceed £100.
Taking out 100 Loans
Because the rates vary from one lender to another, a rate comparison will show you which 100 loan works for you. If you can repay the loan in just for a few days, many lenders have what they call cooling-off period. This is usually for a week or less than a month, depending on the lender, where you can repay the entire loan amount without any interest or fees added.
That is why it is important to take your time to shop around and not jump into whatever is offered to you right away. Look into the interest rate and other fees, and the features of the loan that you can benefit. It can really make a huge difference on the total cost of your loan.
To get an approval, you must meet the lender’s minimum income requirements. You can get 100 loans without a credit check, which is why most people prefer them instead of getting bank loans. However, these lenders will review other personal details you provide to determine whether you are fit for the loan or not. Personal information they need from you may include your address, employment history, your monthly income and expenses, banking details, and so on.
Furthermore, to qualify for 100 loans, you must be of legal age, usually 18 or 21. You must have some earnings whether as part-time or full-time work, but some lenders also consider those who are unemployed or on benefits. The most basic requirement is for you to be earning some sort of income to qualify for 100 loans. Credit history is still a requirement for most lenders, but you can still get a loan even if you have a low credit score.
100 loans are quick to obtain without any hassle or delay. 100 loans be processed within a couple of hours, and money will be in your account within 24 hours or less. You don’t need to wait for weeks to get the money you need urgently. With no strict requirements, 100 loans are known for the leniency of their approval process.
If you are struggling with a low credit score, you can count on 100 loans. These loans are designed to help those who are in dire need of instant cash, and cannot get it from traditional lenders.
Many lenders offer 100 loans for people with poor or bad credit. Whilst lenders offering 100 loans with no credit check online may tempt you, take extra caution. Know that all UK lenders are required to conduct credit checks. Lenders who do not check your credit record or ask any information from you that could help them assess your creditworthiness could be fraud.
A lender offering such a loan is either a loan shark or not being honest with you. These lenders may not be a legally recognised. However, responsible lenders offering no credit check loans may look past your bad credit, but they would actually run checks and other assessments on you.
To ensure you get safe 100 loans, look for lenders that are approved by FCA. These lenders provide full transparency in every aspect of their financial products. These lenders not only implement FCA practices, but their rates and fees are also capped. This way, you can be assured that you are not paying more than what you should.
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You must also have a monthly income (from benefits or a job) and a UK bank account.
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)
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Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances