Sometimes, necessary documents are missing, while the papers are required for sending them to the lender for a loan, or it may be that your fax machine is not in a working condition. Hurdles like these pinch the most when the loan is for urgency. However, no fax payday loans can relieve you from the stress of quickly arranging for the missed papers. Still, not all the borrowers are qualified for the loan.
Only salaried people, who are getting fixed monthly salary for past six months, are allowed to take out the loans. No documents of earnings, employment and residential proof are to be faxed to the lender at the time of making the online loan application. Still, the loan amount is electronically deposited in the borrower's bank checking account within 24 hours.
The loan amount ranges from £100 to £1500. Its approval comes for 14 days, with the option of extending the repayment for couple of weeks. Bu the rollover option should be carefully explored as it involves higher costs. No security is required from the borrower, except a post-dated cheque of the borrowed amount and interest payments.
No fax payday loans are costly for the salaried people. Usually, the loan is given at high rate of interest. If you extend the repayment, then the rate will only go higher. Hence, you should avail the loan only for emergency and prefer repaying it at the first opportunity.
Bad or poor credit history of the borrower is not a concern for the lenders, as no credit-checks are made on the borrowers. For them also, the loan approval comes instantly.
To find these loans at competitive rates, you should make a good search on the internet. Some lenders need to beat the competition and offer the loan at comparatively lower rates with certain conditions. Make sure that you repay the loan on time to escape high interest payments.