You woke up one day and saw your electricity bill. After seeing how much it is, you start to worry because you don't have enough money and payday is still a long way off. You asked your parents and friends for the money you need, but they might need it for themselves. What should I do now? Where can you get money right away? These questions arise in your mind. Now, the way the market works is changing, and banks and other lenders offer loans for short-term needs without checking credit.
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The borrower can get cash through these loans, which come in both secured and unsecured forms. The secured form is for people who want to borrow more money at a lower interest rate. The unsecured form is for people who don't have anything to put up as security. But because it is not secured, it has a slightly higher interest rate than a secured loan. Most of the time, this type of loan lets you borrow between GBP 1,000 and GBP 25,000, which you have to pay back over a period of 1 to 10 years. Some lenders let borrowers choose how long they have to pay back the loan.
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