The Answer To Your Cash Needs
The Great Things About KnightFinance
Super Fast Process
You could get money directly into your account after just a 15 minutes application.
Get the cash you need without the usual high costs, because of our wide range of lenders.
Low Interest Rates
Compare lenders to make sure that you get the lowest possible rates.
There’s no need to put any collateral against your credit, all our loans are unsecured.
Personal Loans that are Unsecured
It is so easy to get the finance you need today. Here at KnightFinance we pride ourselves on finding the right payment plan to suit anyone’s individual needs. Whether you are looking to borrow a small amount over a short period or are looking for much larger finance agreement we are able to help. Also known as personal loans or signature loans, unsecured loans are becoming a massively popular alternative to the standard bank loan. What unsecured refers to is how the finance is issued depending on the individual’s creditworthiness. Now when that comes to a bank loan, yes this is regarding your credit score, often making it difficult to get the finance you need. However, when we are talking about a loan that is not from a bank this is not the case. Many companies and lenders will not look at your credit score and will gauge your ability to repay on your current employment. So what is an unsecured loan really? This is quite an easy one, all it means is that the loan is not guaranteed by a property or vehicle. Because the lender does not have a source of collateral, just in case you default on payments for whatever reason, the interest for these loans can sometimes be higher than their counterparts. For those with bad credit, though, they are perfect for getting you back on track.
See How Our Competitors Compare
Borrow £500 for 4 Months, Four Monthly Repayments of £215.81 Total repayment £863.24 Interest Rate PA (fixed) 270.10% Representative APR 997%
Need Fast Cash On Benefits
If you find yourself facing an unexpected bill or you’re in need of fast cash on benefits, finding the right lender who offers quick money is an effective solution. The quick loan is usually given within 24 hours – or even in 30 minutes – to meet sudden expenses. Because of the speedy action it provides, the loan is a popular choice. In addition, the loan is less strict when it comes to their requirements. Even without a stable source of income and a bad credit rating, your loan application might still get approved.
Nevertheless, it’s important to know how the loan works even if you need fast cash on benefits now. There are a lot of desperate borrowers who have failed to understand what the loan is about and ended up having a more serious financial dilemma. So before you sign on the dotted line, here’s what you need about quick loans for people on benefits a.k.a. “payday loans”.
Need Fast Cash On Benefits? Take A Payday Loan
One of the fastest financial advances is the instant payday loan. It is unsecured, thus there’s no need for collateral to be qualified. It offers a relatively small amount that can be used on almost anything. However, payday loans are very expensive because of the high-interest rate applied to the loan. Another drawback is the repayment term which usually occurs on the next payday. This means that you need to give back the principal loan amount and interest within the next two weeks or one month.
With payday loans, you can get around £100 to £1,000 when you need fast cash on benefits. But the amount you can have depends on your prerequisites such as your income and marital status. When it comes to repayment, the lender may ask for a postdated check or an access to your bank account.
Here are more advantages of payday loans when you need fast cash on benefits:
- Fast Approval And Payout
You can start the application in the comforts of your own home. All you have to do is fill out an application form, wait for a verification call, and once approved, have the money delivered to your bank account.
- Bad Credit Score Is Not An Issue
Bad credit borrowers are often rejected by lenders, but not with payday loans. Anyone can be approved as long as the borrower meets the criteria set by the lender. Also, it’s important that you can provide a proof of income that would support your capacity to settle the loan.
- Flexible Repayment Plan
With payday loans, you have two options – to pay using a postdated check or grant the lender an access to your bank account. When you choose postdated check, you need to write the name of the lender and the total amount you need to settle. On the loan’s due date, the lender will withdraw the cash as a settlement to the loan. Meanwhile, you can give the lender an access to your bank account so they can take the repayment easily on the agreed repayment period.
- Easy Requirements
With payday loans, all you need to provide is a completely filled out application form. This will require you to share personal and financial information.
- Peace Of Mind
Payday loans are an example of a short-term loan, thus you don’t have to think about monthly repayment. When you need fast cash on benefits , you can have it in the soonest possible time and settle it shortly, thus your obligation with the lender is done. Meanwhile, if you can’t settle the loan yet, you can ask the lender for an extension. Rollover is provided to borrowers as long as they agree to settle additional charges.
But like other loans, payday loans also have its own set of disadvantages:
- Expensive Interest Rate
Payday loans are considered as bad credit loans and like similar advances, it applies exorbitant rates which can go up to 300 or even 500%.
- Small Amount
The amount offered can only be used for minor expenses but not as a part of your long-term financial plans. Nonetheless, it is beneficial when you need fast cash on benefits.
- Short Repayment Term
You need to provide the overall amount – including the principal rate, interest, and charges – in as fast as two weeks. It’s a problem when your income is not enough since late payments are subject for additional charges.
Requirements When You Need Fast Cash On Benefits
When looking for a loan, you can visit a lender’s office or go online – which is a more convenient choice especially when you have a limited time. The 2-minute application form will require you to share personal and financial information, such as your name, contact details, employment information, bank account, etc.
Your bank account is important for two basic reasons – one is to receive money and to give the money back. Once approved, the fund is sent to your bank account immediately, thus making it a good option when you need fast cash on benefits. You can also settle the debt without going out; all you need to do is give the lender an access to your bank account.
The other prerequisites required when you need fast cash on benefits include the following:
– Age ( you need to be at least 18 years old and above)
– Residency (you need to be a UK resident or citizen)
– Proof of income (even if you’re unemployed, you need to provide the lender a proof of an alternative fund such as benefits or pension credits).
Additional Note For Payday Loans When You Need Fast Cash On Benefits
Without a doubt, payday loans are one of the most expensive loans. It is a bad credit loan, thus the interest rate. It’s one of the lender’s way to discourage those who cannot settle the debt.
Meanwhile, you can reduce the costs by choosing the right loan provider. It’s important that you find a loan provider who is legitimate since they will probably follow the price cap rules in the UK. Also, check different lenders to know who offers the lowest rate, most flexible repayment term, and best customer service.
5 most recent personal loan reviews
I love CSC loans I have been with them nearly three years, need a top up as my son is getting married. They where brilliant as usual, no problems, done so quick - they were my life savers when needed most, thank you.
Review posted by Mary Hartnoll, Canterbury
Ease Of Use
Value For Money
As guarantor for my daughters, loan the service we got was quick and efficient, did checks, asked questions and all was sorted very quickly, would definitely recommend Together loans to all.
Review posted by Susan Mills, Darlington
Ease Of Use
Value For Money
Brilliant service. The application process was a doddle, the Shawbrook representative who called me was polite, understanding and cheerful. The whole thing (from starting the application process to receiving the money) took around 3 or 4 hours. Very quick and efficient and no long or silly forms to fill out. Just what was necessary. Am very pleased I chose Shawbrook.
Review posted by John Marcus, Surrey
Ease Of Use
Value For Money
Representative 277.5% APR
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances
Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.