Slow Processing - Banks take anything between 15-30 days to process the documents and complete other formalities before granting approval.
Tiresome Procedures - Appointments, meetings, interviews, whole lot of paperwork makes one feel exasperated and also takes up a lot of time
Explain Reasons - One needs to explain to the satisfaction of bankers the reason for applying for a loan.
Uncertainty - Even if all the criteria has been met, there is no certainty that the loan would come through.
Bad Credit Disqualifies - There is no chance of getting loans from a bank if one has bad credit rating or bad track record.
Strict repayment schedules - If one misses even one payment on time, his/her track record would take a hit.
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Instant approval - With payday loans, approval is granted within minutes of filling up an online form and cash comes into the borrower’s account the same working day.
Easy to get - Fast payday loans involve paperless, faxless processing. Just fill up the online form, get approval within minutes and start spending the cash same working day.
No explanations - No intrusion of privacy with payday loans; no interviews, nothing. You don’t even need to meet your lender.
You Qualify, You Get - Almost everybody if he/she is employed full time and earns more than £ 750 a month, gets the applied for amount.
Bad Credit? No Problem - People with bad credit history, bad track record, even bankruptcy can get payday loan if they are employed full time.
Easy repayment schedules - One can defer the repayment just by letting us know in advance.
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