Tag Archives: apr
Fast loans help quicken the dating process
Ever wondered how you could impress the person who has left you love smitten in a while.The easiest way is to put on your best clothes and ask them confidently for a date. Cash restraints troubling you thanks to this date falling in the middle of the month. Not to worry. It is easy now with the global availability of short term loans in the form of payday loans. Fast cash is all that people want in life and they generally go to any extent to grab opportunities. When everything is available online and so easily, why fret over unnecessary things. Dates are hard to get, why lose them for silly reasons.
For those in desperate need of money for emergency purposes, the most practical solution would be to opt for instant cash loans. These loans come in handy when suddenly expenses come in and there is a strict budget to stick to. The good thing about such instant loans is that they come at a very minimum cost, while they serve the purpose of the immediate need. Instant loans come at an optimum cost of £15 or so. This is a very insignificant amount when compared to the amount of trouble these kinds of loans help people avoid. Running to the closest bank, waiting for hours together and then hearing that the loan has been rejected is the last thing anybody wants from a the amount of effort put into it.
Fast loans can be very flexible when one does not see it as a rigid option to turn to. This is the specialty of such loans, nobody knows much about them. It is easy to misunderstand the lenders intentions, since the rates of interest are pretty high when compared to other financial sources. A logical explanation can be given even for such a high apr since a lot of risks are involved behind lending to just anybody who satisfies just the basic few criteria. But sometimes it is indeed misleading to judge a lender by the apr, because the apr is something like a whole years rental. For instance , it is like renting a car and asking for the entire days rental rather than choosing to ask the rental for a day, or however long the car is needed for.
Dating can be fun even in the middle of a crisis, thanks to the power of instant cash loans and online fast cash. The borrower can grab his money in a matter of minutes after the need arises, or the date agrees to go out. Nothing can else can make a romantic candlelight dinner by the banks and great wine to go with the flow seem better, but an instant cash loan. Choose it wisely and use it well.
Low Interest Rate Does Not Always Mean Cheap Loans
Summary: Cheap loans are a reality and not a myth. However, a low interest rate in itself does not mean that the loan is cheap because there may be many other costs involved apart from the interest rate.
The general perception is that a loan that involves low rate of interest is beneficial. This, however, does not hold true in every case. Sometimes, manipulative lenders offer you very low interest rate but they raise the total cost of borrowing by charging loan arrangement fee and early repayment penalty. In this way, a consumer who is not aware of these things may think that he has got a good loan deal from the lender whereas the reality is very far away.
There is a concept of annual percentage rate or APR that has been specially introduced to counter the manipulative tactics adopted by some lenders. APR helps borrowers to compare different loans on an equitable basis. APR is the total cost of availing credit that a borrower has to pay to the lender, expressed in simple annual percentage. APR includes interest rate and all other costs and fees relating to a loan.
Since all the loans are expressed in terms of an APR, a standard practise in the UK loan industry, the loans have become comparable on equitable basis. Any borrower who wants to take a loan should compare it on the basis of APR, the best available measure of finding out cheap loans.
The low rate loans available with the banks and other financial institutions may require you to fulfill some conditions. The banks may ask you to provide a loan guarantee by placing your home as a security. This requirement becomes indispensable for the lenders when you want a large amount of loan, say £100,000. Lenders want to ensure that the loan that they are advancing to the consumer is backed by a concrete security. If you are ready to oblige a lender by giving your home as security, you can easily get low rate loans. In such a situation, the lender may also overlook any other shortcoming that you possess like a not so good credit rating.
In a bid to take cheap loans, you should not forget the real purpose for which you are taking a loan. It is very important that the loan fulfills your entire financial requirement and the ultimate purpose, whatever it may be. If you are confronting a situation where two loan offers are available, one slightly expensive than the other, then you should decide on the basis of collateral benefits that you are likely to derive out of two offers. The interest rate becomes unimportant in such a scenario.