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Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
Not all loan types and amounts are eligible for 20 minute payouts. Your chosen bank may increase the time you receive the funds.

Home » Guarantor » Guarantor- No guarantor payday loans

Payday loans no guarantor: Things one needs to know

Payday loans no guarantor has become one of the most common forms of the loan in the 21st century. One of the key reasons behind this is the fact that these loans don’t ask for any sort of co – signers or guarantors. A guarantor refers to a person who takes the responsibility for a loan in the event that a person for whom he or she was the guarantor fails to repay the loan. Since a lot of responsibility is involved, most individuals don’t prefer being a guarantor or a co – signer.

Things to consider

Well, one thing for sure that an organisation or a bank won’t grant a loan to anyone and everyone. There are numerous things that lenders consider at the time of approving a loan. This aspect must be considered in order to be certain about the fact that the borrower will be able to meet the decided terms and conditions. Listed below are some of the major things to consider:

Credit score

One of the first and foremost things individuals look for before approving a loan is the credit score or the credit history of the borrower which tells the lender about the history of the borrower as far as the repayments of his or her past loans are concerned. This becomes extremely crucial especially in the event that a large amount of money is involved.

Under most circumstances, the lenders will decline a loan application without even going through the other details in the event that the individual has a bad credit score. So, it becomes extremely important for individuals to maintain a good credit score.


Another major aspect that lenders of payday loans no guarantor consider are the job of the borrower.

This is done in order to figure out as to whether the individual is capable of repaying the loan amount or not.

Also to estimate the outcome of the entire transaction. Individuals with secure jobs will get loans more easily than individuals who don’t have any sort of secure jobs.

 Bank Statement

The various financial transactions carried out by the borrower in the last couple of years are also considered in order to ensure his or her annual turnover in the event that he or she is a business man or a business woman.

Hence, next time you go for payday loans no guarantor makes it a point to carry the passbook of your bank. Even a legal e-statement shall suffice for the purpose.


This is another aspect that lenders consider.

The impact of the duly repayments on the finances of the borrower is something the borrowers must definitely consider.

If the repayments lead to more loans, then the purpose of the loan will certainly not be served.


The budget amount is another major aspect that ought to be taken into consideration.

If the amount is low, then the risks involved are less and hence, the list of the terms and conditions won’t be too large.

For any sort of further details and queries, just Google it!