Same Day Loans
A same day loan is when you apply for the loan, are approved by the lender and receive the funds to your bank account all on the same day.
Pete’s Loan Machine are a same day lender enabling clients to finish an online application in just a few minutes. Successful applicants can be sent the funds to their bank account in minutes of the application been approved, particularly when the lender uses faster payments to send the funds.
Same Day Loans for Emergency Purposes
The motivation behind same day loans is normally to cover a crisis cost that might not have been planned for. It is prudent to make a decent attempt to set cash aside for a rainy day, with some budgetary specialists recommending a measure of 3 months’ pay or possibly £1,000 be set aside or concealed.
However, there are always unforeseen circumstances that we do not anticipate. Common emergencies that incur large costs include:
- Plumbing issues
- Flooding in the house
- Broker boilers
- Hole in the floor or ceiling
- Vehicle fixes
The thought is that you can apply for a same day loan and, whenever affirmed, get the funds straightforwardly into your account inside merely hours. You can utilise the cash that you get to fix any family crises promptly and set your brain calm. You would then be able to repay the loan sum and interest concurred on the repayment dates concurred among you and your lender.
When Would You Need a Same Day Loan?
One of the most widely recognised instances of an unexpected emergency is relating to car repairs. Studies have shown that UK motorists spend around £400 per year on unplanned repairs to their car. (Source: Daily Express)
Since numerous individuals require their vehicles for everyday use, for example, going to work, grabbing the children from school or purchasing goods – they can’t manage the cost of for their vehicle to be out of utilisation. Thusly, applying for a same day loan and being endorsed can enable borrowers to get the cash they require and have their vehicle back out and about in a matter of moments.
How Are Repayments Collected
Same day payday loan collection processes are usually automated using a system known as continuous payment authority. With your permission, this allows them to automatically apply for an agreed amount from your debit card and means that you do not have to worry about calling up or making a manual repayment.
An advantage of applying through Pete’s Loan Machine is that our same day payday loan repayments through our trusted lenders are spread out over flexible regular instalments. Instead of taking out a loan and having to make the full repayment at the end of the month, apply through us makes the repayment process more flexible.You can pick which repayment dates you might want the same day loan UK collections to leave your bank account. We advise these dates concur with your payday (normally the last Friday of the month) to guarantee you have enough cash in your bank account. You are often sent repayment updates on the days just before your repayment dates to remind you what amount is expected.
By staggering the repayments over instalments, you are able to pay for your immediate expense and then have more time when it comes to making the repayments although by extending the repayment term of your same day payday loan, you will pay more overall. You also have the option to repay your same day loan UK early at any time and you may receive a rebate of interest depending on how early you request to repay.
How to Apply
Customers can apply for same day loans online through our application form. The application can be completed on desktop, mobile or tablet through our website, 24 hours a day, 7 days a week.
We ask you to fill in some basic questions including your name, address, income, expenses, employment status and bank details, so we know where to send the money to if your loan is approved.
Your same day loan UK application will be liable to a progression of automated credit evaluation checks enabling you to get an instant choice filling you in regarding whether you have been temporarily affirmed. Sometimes, we may require extra data from you to affirm salary or business. We are committed to dependable loan broking and guaranteeing that we can encourage financing to those that can afford it and using lenders that can provide funds within hours of applying