Quick Loans - How and Why

Quick loans are an easy way to get some quick cash when you need it most. They’re designed to be for smaller amounts in order to be easy to repay when you get paid. You can apply for up to £400 with KwikPayday, which is an amount that will usually be enough to help even with emergencies, but still be affordable for most to repay at the end of the month.

Quick loans for affordable borrowing

Usually, quick loans are for around 28 days, and you can expect them to cost around £25 per £100 borrowed. This may vary depending on the lender that you go with and your personal circumstances, but it’s the most common amount that is charged. It’s always worth checking if there are any extra charges on top of this (KwikPayday does not make any extra charges on the loan that you find).

It’s worth noting that quick loans are often cheaper than an unauthorised overdraft. Which Magazine recently compared the two and found that payday loans can be cheaper than an unauthorised overdraft, which is good news for anyone who is unable to extend their overdraft.

Quick Loan Requirements

Applicants for quick loans should meet the following criteria:

• Quick loan applicants should be UK residents
• Be employmed
• Salary paid into a UK bank account
• Be over the age of 18

If you meet the above mentioned requirements, you’re almost certainly eligible to apply for quick loans. They’re the requirements you need to meet. You don’t need to talk to anyone on the phone or explain why you need to borrow the money. All that the lender needs to know is that you need it.

Simple Loan Application

When you apply for quick loans, the application process is designed to be as simple as possible. All you need to do is to enter your address, phone numbers (including your work number – don’t worry, it’s only for confirmation that you work there), information about your pay amount and frequency, and finally your bank details.

The whole process of applying for quick loans shouldn’t take any more than a couple of minutes. After that, you’ll get a fast decision as to whether or not your quick loan application has been accepted. The speed is because of our automatic approval system, which quickly checks points of data and allows for an accurate decision quickly.

Same Day Quick Loans*

If your application is successful, you’ll receive a loan agreement with no obligation for you to accept. If you do accept the agreement, you’ll be sent the cash quickly – usually in the same day and often in the same hour. You then repay it, along with the interest, when you get paid.

You can use quick loans for anything you want. Our customers use them for anything from emergency plumber or electrician visits, early Christmas shopping, or even holiday expenses. The whole point is that they can be in your bank account in order to be used. We understand that you can’t always wait for your cash, and this is why payday loans exist!

Quick Loans aren’t designed to get you stuck into long term repayment plans. They’re designed to be dealt with quickly, and repaid as soon as you receive your salary. They’re a way to use your payday money earlier than usual, in order to allow you more financial freedom. They’re a way for you to be able to have more choice, now.

KwikPayday is available for you to use any time, day or night. Because our system is automatic, you don’t need to worry about opening times – you can apply right now. In the next two minutes, you could arrange the cash that you need to be in your account today.