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What Are The Rates For A £100 Loan?

Minor emergencies can lead you out of cash for the month. If you ever face such kind of a situation, you can borrow an instant £100 Loan to get out of the financial crunch and help you survive through the emergency. Moreover, these types of loans are non-secured and do not require any kind of credit score or guarantor to get processed. If you have ever faced such a situation and wish to know more about these types of loans, you can go through the detailed information provided below.

How Long Does It Take For The Loan To Be Processed?

Sometimes, one can not wait till the next payday to get your finances sorted. Moreover, sometimes, you may not even be able to wait for a few days for the banks to process their formalities and credit the amount into your account. A 100 pound loan gets processed within a short period and you can get the amount credited to your account even on the said day of your application.

How Much Credit Score Do You Need?

These types of loans are termed short-term loans and usually charge a higher amount of interest rates as compared to traditional long-term loans. Therefore, the lenders do not consider the credit score of the applicant while granting the loan amount. Even if you have bad credit, you can qualify for this loan.

Types Of £100 Loans:

You can either borrow a 100 pound loan, which will have to be re-paid, the day your next salary gets credited into your bank account. Alternatively, you can also look out for other short-term £100 loans, which have to be re-paid in instalments, usually over the next few months. The most general tenures last from 3 months to 12 months. However, the longer the period you opt for, the more interest you may need to pay on the principal amount borrowed. Therefore, you must try to opt for the shortest span of re-payment possible.

How Much Would You Have To Pay Back?

The total amount that you may need to pay back for a £100 Loan may vary based on the interest rate and the period over which you plan to repay the amount to the lender. For instance, if you borrow a 100 pound Loan over a 75% interest rate, you may have to pay back £175 in total.

If you ever feel the need of borrowing a small amount of money for a short period and do not have any dear ones to help you out, you can seek the help of these amazing short-term loans to get you out of a bad situation.

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