London, UK -- (SBWIRE) -- 01/10/2012 -- According to online loans specialists “Payday 24 Hr,” people who need money fast are choosing online payday loan providers over storefront banks in record numbers. Payday 24 Hr is a service that connects eligible borrowers with its network of trusted cash advance lenders in the United Kingdom.
As the global economy gets back to its feet a number of banks in the UK are offering direct-deposit loans to trusted account holders. Although the offer seems attractive, more and more borrowers are avoiding these types of loans for several reasons. Recent studies show that direct deposit loans can have staggering interest rates, sometimes as high as 400% based on the expected lending time of ten days and depending on the amount borrowed.
Payday 24 Hr cautions borrowers concerning the risk of shopping for a payday loan without professional assistance- especially for bad credit loans which are increasingly more difficult to acquire. Instead, the website offers applicants the option of borrowing from the comfort of their own home and to do it while providing as little invasive information as possible.
“Our service is free of charge,” says a Payday 24 Hr representative. “We are not lenders or brokers. But thanks to automatic system your details will be passed to lenders who then will give you a loan (it all takes just a few minutes). We do not have access to the data provided by you.”
With no credit check necessary, borrowers simply fill out a short online form and within minutes they can get payday loans of up to 1,000 pounds. Eligibility requirements are minimal, applicants just have to have a job, bank account and be at least 18 years of age. Once the application has been approved the borrower simply accepts the terms of the loan and the cash advance is wired directly into his/her bank account.
The expected repayment parameters are specified during the application process and are contingent upon the applicant’s personal loan eligibility but all applicants are considered eligible and most are approved: “The idea behind the advance cash loan service is that money can be loaned in a fast way without having to oblige to a long list of requirements,” says the website.
According to their clients, it’s their security and ease of use that has made Payday 24 Hr one of the most popular online loan providers in the United Kingdom. To learn more about Payday 24 Hr, please visit their website at: http://www.payday24h.co.uk
About Payday 24 Hr:
Payday 24 Hr is a national service that matches those in need of short term loans with the right lending institutions based on client applications. As a service provider rather than a lending institution, Payday 24 Hr maintains some of the strictest standards in the industry for the loan institutions it chooses to work with.