Instant decision loans, as the name suggests, are approved instantly. These loans are designed in such a way that the borrowers can arrange their funds without any hassle in no time.instant decision loans are tailor made for the immediate need of the borrowers. These are payday loans, also known as cash advance loans. The best part is that these loans are approved instantly.
The loan amount you can borrow through these loans are small. The loan amount varies from £500 to £1800. The loan amount can be increased if the lender is convinced by the borrower with his repaying ability and justified need.
These are short term loan and unsecured in nature. These loans are taken in between two paydays and repaid when the next payday comes. The loan term varies from 2 weeks to 4 weeks. The loan term can be extended if the borrower can not repay the loan in time. This is not free. The lender charges extra interest rate for that borrower. The loan term is extended for 15 days more. But it should be informed to the lender three days prior to the due date of the loan repayment.
These loans are unsecured and this enables the lender to approve the loan faster. The interest is little higher for the short term. The loan market is full of competition. This lowers the interest rate for the borrowers to attract them. The interest rates are different from lender to lender.
Anyone with proper citizenship, age and job status proof can apply for these loans. You must be an adult with a full time job. Your salary must be enough to convince the lender to get your loan application approved.
Instant decision loans are generally offered by the online lenders. They are faster in approving the loan than the offline lenders. You just have to fill the application form and submit it. You can search for the suitable lenders in their websites.
source : http://www.articlesbase.com/
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