Useful Information about Direct Payday Loans Online

Useful Information about Direct Payday Loans Online

If you can meet the above criteria, we are more than happy to help, just click apply now and we can start to assess your application for alternative payday loans. As part of your application, we will require additional information, such as your income and expenditure and 3 years of addresses, to https://www.paydayloansohio.net/cities/cleveland/ form our decision, starting with filling out our easy to use application form.

You will need to determine the amount you wish to borrow, the frequency of repayment and how many repayments you want to make. We can then provide a quick decision in principle based on this information, then a Customer Care Manager will be assigned to you to confirm a few details. This process should take no longer than 5 minutes and they will call you for a quick chat around your affordability. Sometimes, if we have the information we need from the Credit Reference Agencies (CRA) we use, we may not need to call you. Then once this is all provided, we will send you a digital loan agreement to sign. As soon as we have this back from you, we can transfer the agreed funds into your bank account within just 15 minutes. Click Apply Now to start your application for a quick agreement on direct payday loans in principle.

How Can I Repay a Payday Loan through Fast Loan UK?

Our alternative payday loan repayments are collected using a continuous payment authority (CPA), which means we will directly withdraw the agreed repayment amount automatically from your bank account on the scheduled repayment date. All you will need to do is ensure you have available funds in your bank account for this to go through and to help we will send you a reminder at least 3 days before the payment due date. If you prefer, you can cancel the CPA and pay by direct bank transfer, but you will need to speak to your Customer Care Manager to arrange.

What’s the Maximum I Can Choose to Repay a Payday Loan?

If you are a new customer, you can borrow for a maximum of 241 days (8 months) and choose the frequency of repayment to be weekly, fortnightly, or monthly. You can also choose to pay back one payment just like with traditional direct payday lenders. For returning customers, you will be able to apply for a loan up to a maximum repayment term of 365 days (12 months). We recommend customers to choose repayment terms that will enable them to clear the balance quicker rather than choosing the maximum term available.

Borrow: ?500 over 16 weeks. 4 repayments of ?. Total amount payable ?. Interest rate: 151.4% pa (fixed). Representative .% APR.

How Much Can I Borrow as a New Customer?

We offer flexible terms on direct payday loans up to a maximum of ?800 if you are a new customer to Fast Loan UK. The reason this is capped for new customers is that we need to ensure that you can repay your first loan with us at a lower amount so you can then become a trusted customer of ours. If you then decide to borrow again from us, you will be eligible to apply for up to ?2,000. We take responsible lending seriously and do not encourage customers to apply for the maximum available to them, only what you can afford to pay back.

Will I Be Credit Checked for a Direct Payday Loan?

As part of your application, we will run a credit check using a CRA to provide us with an overview of your current financial situation. To begin with, this will be a soft search and will not show up on your credit file. If you are pre-approved based on this, we will then require a hard search of your credit file which will show on your records. This will form part of your application for an alternative direct payday loan through us but will not be the only deciding factor on our decision to lend.

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