DEFINITION OF PERSONAL AND PAYDAY LOANS
Most people feel that payday loans and personal loans are one and the same thing, but this is not at all true. They may seem similar, but they have many big differences which set the two options at opposite poles. One should consider the credit and the amount one needs to borrow to know what one qualifies for before one applies for it.
Personal and payday loans are both useful when one requires an extra boost in finances, but this is the only similarity between them. The factors that vary are the term, cost and the amount among other different finances.
The loan amount also differs when it comes to a comparison between the two. Most banks in the UK do not lend less than 1000 pounds for a 12 month period in case of personal loans.
When it comes to cost … Read More