1 Month Loan

Life is quite complicated and it can seem to be an endless cycle of paying a seemingly never ending round of bills. Bill after bill, all demanding a portion of your hard-earned cash. Maybe you get by through paying a little bit towards each one just to keep the wolf from the door. However, sometimes a spanner gets thrown into the works and you find yourself with an unanticipated extra expenditure one month that can totally throw your finances off balance. Something like an unexpected household repair bill, perhaps an appliance like a cooker suddenly stops working and you need to buy a replacement immediately but you quickly realise that you just won’t have enough money available to pay your other on-going monthly commitments. This is where a one month loan or payday loan can really come to your rescue.

Nowadays, there are numerous one month loan providers on the internet that can be accessed and who are prepared to offer short-term loans until the next pay day. Commonly, an applicant will be required to have a valid UK bank account, be over the age of 18 and be in active, verifiable employment. Applications are processed very quickly, generally within a 24 hour period. The funds requested will be transferred electronically direct to the receiving bank account very quickly, usually no more than 48 hours, after approval.

Repaying the loan is very straightforward, with many companies taking a direct debit from the recipient’s bank account on the agreed date after the usual monthly pay or salary has been paid in by the employer. In this way, there is no long- term commitment and relatively small sums are involved in the lending process. Typically an amount as low as £75 can be lent up to a maximum of £600. Bear in mind though, that this does vary slightly from lender to lender.

A very attractive benefit of a one month loan is that it doesn’t involve lengthy application procedures. As long as the individual meets the main three criteria of the bank account, employment and age, then it is very likely that a one month loan will be granted. This is unlike many other types of loans that involve credit reference checks which are time consuming and quite fraught if you have a slightly undesirable credit history. Having a poor credit history will not necessarily preclude anyone from obtaining a one month loan and thus makes this type of loan very appealing for anyone who has previously experienced trouble with a loan application in the past.

A further benefit to the one month loan application process is that the finance company will not require the money to be guaranteed in any way. That is to say, it will not ask for the loan to be secured on any of the applicant’s assets such as home or car, for example. All they ask is that the money lent out is repaid as agreed, once the monthly salary or wage has been received.