Pixie Loans Offer Short Term Loans To Help the UK Residents

Pixie loans are a short term provider of loans. Pixie loans provide short term for solutions of finance for the residents of the United Kingdom. People borrow from Pixie as they are assured of this financial product quality. Pixie loans are dedicated to lending and it aims to assist the clients in getting back financially on their feet at the earliest after facing obstacles for short term cash.

There are some requirements to be met by applicants to avail this loan. The loan is approved as installment loan by the Pixie Loans. However, to avail the loan, the applicants must be older than 18 years. Apart from this, they must be the United Kingdom residents having a UK bank account. The approval for the loan at paydaypixie.co.uk is available only if the applicant is employed permanently. In addition, people will undergo a check for credit history and meet the requirements of creditworthiness.

With Pixie loans, the borrowers get to borrow a loan amount of £150 and £1,000. The installment loans will include an interest that will be charged at 0.8%. It means the loan life can be longer such that the borrower will pay more interest. For instance, for £150 loan for two months, there will be a requirement of £55.95 altogether in the interest charges.

A pixie loan gets approved only when the applicants submit an online application and undergo an affordability assessment and credit check. Generally, the pixie loans are assessed by the situation of the applicant to decide if the loan must be offered or granted or not. The borrower decides if they have to finalize it or not. A loan agreement is handed to the borrower and on signing the agreement; the funds are deposited shortly into the account of the borrower. Generally, the funds will reach the account of the borrowers once the application is finalized and it comes mostly on the same day.

The repayments for the loan amount can be debited directly from the account of the borrower so that the loan is repaid. However, there is another option also to repay such that the borrower can set the payments as automatic and it will get deducted on a particular set date. The borrowers, if required can pay the loans off before the date and thus try saving money as per the date. This can be done if you have extra funds to clear the loan.