FREQUENTLY ASKED QUESTIONS
What are the advantages of a payday loan over other personal loan types?
Payday loans are typically funded to the borrower's current account via direct deposit within 24 hours or less. These loans are fast, easy and secure. Other loan types can take weeks to be funded to the borrower.
What is the limit on the amount I can borrow if I choose an online payday loan option?
Most online payday loan companies will lend between £80 and £750 to their payday loan customers. Generally first time payday loan borrowers are eligible to receive up to £300. Once you have become a customer in good standing, your loan amount may increase depending upon the amount of your pay cheque.
Most payday loan sites don't provide the information I'm looking for. Can Payday Spot UK recommend a trustworthy site that will give me the answers I need?
PayDay Spot UK has searched numerous lenders to provide consumers with the best options for no fax payday loans. Choose one of the payday lender options, fill out the easy application to get started. You could have cash in your account within 24 hours.
Will applying for a payday loan affect my credit score?
Most payday loan companies do not check credit scores when they are approving the requested loan. This makes payday loans a great way to get quick cash you need without negatively affecting your credit score. Similarly, payday day loans are good for people who have adverse credit and might not receive approvals when applying for a more long term loan option.
What criteria must I meet to qualify for a payday loan?
You must be a UK resident over 18 years of age, have a valid bank account and earn stable income to qualify for a payday loan.
Is a payday loan the right loan option for me?
Payday loans are a great resource for those who need a relatively small amount of extra cash and are able to repay the loans on their next payday. If a payday loan does not suit your needs, please look into unsecured loans where you could borrow up to £250,000 to use for any purpose.
