Who are they suitable for?
Payday loans are suitable for any individual who has a regular income and an active bank account with a debit card. They are also designed for people who:
- Need instant cash - Online payday loans or fax payday loans are often paid into your account straight away, though some companies deliver on the next working day.
- Need cash for unforeseen occurrences – for example, frozen pipes in winter.
- Need to pay back high interest debts – A payday loan could help you clear a debt with a higher rate of interest quickly.
- Have a bad credit history - Your credit history will not be taken into account as long as you have sufficient funds available to pay the advance cash loan.
- Want to avoid defaults – Defaulting on a current account with many banks can lead to heavy charges each month. A payday loan can be used as an alternative where you would simply pay a fixed interest charge instead.
| |
| Lender |
Loan Amount |
Employment |
Bank Account |
Faxing Required |
Charges |
|
 |
Up to £750 |
Yes |
Yes |
No |
Various |
|

|
Up to £750 |
Yes |
Yes |
No |
£25 for every £100 |
|
 |
£80 - £750 |
Yes |
Yes |
No |
£25 for every £100 |
|

|
Up to £750 |
Yes |
Yes |
No |
£25 for every £100 |
|

|
£80 to £750 |
Yes |
Yes |
No |
£25 for every £100 |
|
|
|