Warning: Late repayment can cause you serious money problems. For help go to moneyadviceservice.org.uk
Rates from 278% APR to max 1576% APR. Minimum Loan Length is 3 months. Max Loan Length is 6 months. Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £559.68 in 3 monthly instalments of £186.56. Interest charged is £159.68, interest rate 161.9% (variable). interest rate 161.9% (APR variable). We are a credit broker not a Lender.
Depending on the lender and their lending technology, all approved payday loans are processed within 1 hour. Being quick and fast is perhaps the most appealing feature of all payday loans.
Within a few minutes!
Once you submit a properly filled-in payday loan application here at Viva Loans, we carefully forward to it to direct and responsible payday lenders. These payday lenders then review and assess your application and decide whether to accept or reject your application. This decision is made known to you typically within half an hour from successful submission.
You will be contacted directly by the lender regarding the status of your payday loan application.
Please note that we, at Viva Loans, are payday loan brokers, and we do not lend money. Our aim here is to connect you with responsible lenders who might be interested in lending money to you.
In almost all cases, you can expect to see the money in your bank account within an hour of your application being approved.
Here’s how it works:
If your bank account is ‘Faster Payments’ enabled, you will receive the funds from the lender within 10 minutes of your application being approved.
If your bank account is not ‘Faster Payments’ enabled, you can expect to receive the funds the same day (for applications approved before 14:30 hrs), or before 11:00 hrs on the next working day.
Viva Loans works round the clock, 7 days a week to find the most suitable lenders for you. So, it should not matter when you submit an application – it will be reviewed within a few minutes, guaranteed!
However, you might want to make sure that you provide all the relevant details of your bank account (including the sort code) so that the lender can transfer the funds immediately.
Traditional bank loans require a whole lot of paperwork. They are all, invariably, secured loans, meaning that you are expected to ‘pledge’ an asset against the loan.
In contrast, payday loans are unsecured and require minimal paperwork, as the loan amount is small (up to £2,000) and loan term short (3 to 12 months). Payday lenders usually review the following before arriving at a decision:
Validity of identity and address documents.
Validity of bank account.
Validity of monthly income reports.
In some cases, lenders can also run credit checks to ensure that the applicant has a sound credit history. This, however, rarely plays an important part in an application being approved or rejected.
All this procedure is largely automated and hence doesn’t take too long to complete.