Online payday loans providers in UK are beginning to offer borrowers who earn well above 750 pounds, a short term advance, usually for a week for an easily repayable sum of 50 to 300 pounds. This offer has achieved a great publicity and appreciation among the masses as it ensures hassle free access to emergency funds without any delay or paperwork requirements.

The highlight of these instant payday loan deal is that for such an amount, loan lenders are nit charging any interest fee. In other words the interest rate for obtaining a quick cash advance for 8 days is zero percent.

This is great news for all those people planning to do shopping for the holiday season. Online cash loans with no interest would facilitate the loaning process to a great extent and is a short term strategy for payday lenders to establish goodwill among target audience.

For those borrowers who fail to repay this payday loans on the due date, a fine of 50 pens per 100 pounds would be charged by the lender for each day. So borrowers should exercise care in using and repaying these friendly advances.

Also those individuals who are planning to apply for such an advance it is highly recommended that they thoroughly review the borrower’s terms and conditions. This would help them avoid any unwanted costs or charges.

With so many households struggling to manage their budgets and failing to save some finances for the rainy day, quick cash loans are becoming a need rather than an option because these are perhaps the only commonly available short term financing tool that is available with no interest charges and lengthy qualification requirements. The only criterion put forward by the lenders is that the applicant should be earning a steady income of minimum 750 pounds a month.

An APR rate of just 400 percent may sound pretty appealing to people as compared to other kinds of online cash advances whose APR goes up to 4000 percent. But these payday loans must not be considered a long term solution to financial problems. These cash deals are ideal to be availed once or twice a year or in desperate times but must not become a habit because there always are chances that you default on loans and paying for the extra cost would shorten your finances for the next month and you would again need a short term finance to fulfill your monthly expenses. So it is wise to take out these cash advances for paying any emergency cost or bill. Unforeseen expenses keep popping up and individuals should try to adjust their expenses with their incomes by either reducing their expenses or increasing finding additional source of income.