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Short Term Loans
Do you work for a company that has unreliable payment cycles? Do you often find yourself awaiting the next paycheck to make a purchase or to pay your electricity bill?
We have a simple solution to help you tide over till your next pay. The short term loans from Loan in Hands is your answer.
What is a Short Term Loan?
Short term loans are a type of quick-fix loan solution that’s approved and transferred in a very short duration of time, sometimes even within a day. This loan can then be repaid back within the next 3 months to a year. It’s ideal to close these loans within the shortest duration as possible. The longer you take to repay this kind of short term cash loans, the higher the interest rate goes.
Also, another thing you should cross-check about short term loans in the Annual Percentage Rates or APR. Always calculate how much is the interest percentage you’ll be paying for the full term of the loan, compare this amongst 2-3 different financial products. And select the one that best suits your budget and needs.
Why should you choose a Short Term Loan?
Short term loans are ideal for you if you’re confident about returning the money on time. The only catch about these small short term loans is that the interest terms tend to be higher than secured loans and credit card loans. Moreover, short term loans also tend to have additional processing and handling costs due to the quick turn-over time they promise.
It’s different from payday loans because short term loan lenders allow repayment in instalments, unlike payday loans where the whole amount needs to be transferred in bulk. This is one of the key differentiators that make short term loans much more viable for people who rely heavily on their paychecks for daily transactions.
Also, taking short term loans for bad credit ranking can help rectify your score. If you’ve been lagging behind in your credit ranking then taking a short term loan and paying it off in time will give a sudden and swift boost to your credit score. This will come in handy in future if you ever need to take an unsecured or personal loan. So always keep a check on your credit score and try to maintain a good score for a secure financial standing in the long run.
What is the eligibility criteria for Short Term Loans?
There is a certain list of criteria that need to be met to be eligible for short term loans. Most money lenders provide short term loans only to adults above 18 years of age and earning a salary of a minimum of £750 pounds per month. Also for approval of short term loans, UK citizenship in a must. Along with these standard checks, your credit score is a key decider of your eligibility for the loan. While a good credit score doesn’t guarantee a loan approval, a bad credit score will definitely be a cause of concern for the lenders. So it is best to always make all loan payments on time and avoid any sort of default.
How to Apply for a Short Term Loan?
It’s easy to apply for a short term loan at Loan in Hands. Here’s a simple 4 step process to apply for your short term loan at Loan in Hands:
- Visit our online site and fill in the application form with all the basic details.
- Once we receive your inquiry, our customer care will get in touch with you to check your eligibility.
- After cross verifying all the details, you will receive the money in your bank account within the next business day
- Repay the money as per the terms mentioned in the contract
Why Choose Loan in Hands?
Loan in Hands provides short term loans with the agenda to help individuals like you who have the earning capacity but need some extra support to meet expenses. Other than the simple application procedure, you don’t need to spend a long term saving up to clear up the loan. You can pay it back in instalments within 24 hours to 36 months. The schedule and EMIs can also be fixed based on your preference.
We provide a number of customer-friendly options for Short-term loans. Here’s why you should avail credit through us:
- Easy application process
- Quick processing
- Transparent processes
- Affordable rates
- Access to versatile repayment options